Insights

Iontra Closes $45 Million Series C to Deliver Launch of the Industry's First Integrated RISC-V Charge Control and Fuel Gauge Microcontroller

DETAILS

- Iontra Inc has completed a $45 million Series C funding round, bringing total funding to $120.3 million. - The funding positions Iontra as a leader in battery charging technology, supported by a recent $2.15 million DOE ARPA-E circular grant. - The Series C funding was led by Volta Energy Technologies, with contributions from various investors. - CEO Jeff Granato expressed gratitude for investor support and stated that the financing underlines the market potential of their technology. - Iontra is focused on the development of a charge control technology utilizing electrodynamic principles to enhance lithium battery performance and safety. - The funding will help advance Iontra's microcontroller products designed for efficient battery charging across consumer and industrial devices. - Iontra's microcontroller includes cybersecurity features and advanced peripherals to aid in system integration and cost reduction. - The company expects to deliver initial samples of its custom microcontroller by mid-2025 and enter production in 2026. - Volta Energy Technologies' CTO David Schroeder highlighted Iontra's innovative approach to charging as significant for improving battery performance and sustainability. - The funding will support notable customer product launches, including Salom Europe Ltd and Spectralink. - Iontra's battery charging technology minimizes failure modes, supports enhanced charge speed, and is effective in extreme temperatures. - Their technology has demonstrated reliability through extensive in-house testing and validation by multiple independent labs.

COMPANIES

Iontra Inc, Volta Energy Technologies, Salom Europe Ltd, Spectralink, National Renewable Energy Laboratory, Novonix, University of Michigan

TAGS

Battery Technology

Tokamak Energy raises $125m to commercialize transformative fusion and magnet technologies

DETAILS

- Tokamak Energy has raised $125 million to advance its plans for commercializing fusion energy and developing high temperature superconducting technology. - The funding round was co-led by East X Ventures and Lingotto Investment Management with participation from new investors including Furukawa Electric Company and British Patient Capital. - This investment acknowledges Tokamak Energy's expertise as the only private fusion company with over a decade of experience in designing and operating tokamaks. - The total funds raised since its establishment in 2009 amount to $335 million, including $275 million from private investors and $60 million from government sources. - The funding will accelerate the growth of TE Magnetics, addressing demand from the fusion energy market and expanding into other sectors like mobility and renewable energy. - Tokamak Energy plans to advance its fusion pilot plant design and conduct experiments using its ST40 tokamak in Oxford. - Warrick Matthews, CEO of Tokamak Energy, emphasizes the importance of strong partnerships to achieve the company's mission of making fusion energy a reality. - The company aims to tackle climate change and energy security challenges while commercializing its HTS technology through TE Magnetics. - Dr. Geri Richmond from the Department of Energy highlights Tokamak Energy's role in advancing fusion energy as crucial for clean electricity. - Hideya Moridaira of Furukawa Electric expresses excitement about the collaboration potential with Tokamak Energy. - Murat Oğuz Arcan from Sabanci Climate Ventures sees the investment as a strategic step toward clean energy transitions. - Tokamak Energy is the first private company to achieve a fusion-threshold plasma ion temperature of 100 million degrees Celsius in a spherical tokamak. - The company is working on a fusion energy pilot plant under the Department of Energy's Milestone-Based Fusion Development Program. - TE Magnetics is focused on deploying HTS magnet technology to enable efficient fusion energy operation and various industrial applications. - Fusion energy is described as a clean and efficient source, generating higher energy yields without harmful emissions. - Tokamak Energy is recognized as a leader in developing commercial fusion energy and HTS magnets, aiming for transformative applications globally. - The U.S. subsidiary of Tokamak Energy was established to play a key role in the Department of Energy's fusion innovation efforts.

COMPANIES

Tokamak Energy, East X Ventures, Lingotto Investment Management, Furukawa Electric Company, British Patient Capital, BW Group, Sabanci Climate Ventures, SuperPower Inc, U.S. Department of Energy.

TAGS

fundraising

Tokamak Energy raises $125m to commercialize transformative fusion and magnet technologies

DETAILS

- Tokamak Energy has raised 125 million dollars to expedite plans for commercializing fusion energy and advancing its high temperature superconducting technology called TE Magnetics. - The funding round was co-led by East X Ventures and Lingotto Investment Management and included participation from new investors such as Furukawa Electric Company, British Patient Capital, BW Group, and Sabanci Climate Ventures. - This investment acknowledges Tokamak Energy's expertise as the only private fusion company with over 10 years of experience in designing, building, and operating tokamaks. - The total funds raised since its inception as a spin-out from the UK Atomic Energy Authority in 2009 has reached 335 million dollars, consisting of 275 million from private investors and 60 million from government sources. - The recent funding will facilitate the rapid growth of TE Magnetics to cater to the fusion energy market and expand its applications in various fields such as science, mobility, renewable energy, and security. - The investment will boost the company's fusion pilot plant design program and support the development and testing of new fusion technologies using the ST40 tokamak near Oxford. - Warrick Matthews, CEO of Tokamak Energy, emphasized the importance of global partnerships in advancing fusion energy and addressing climate change and energy security challenges. - Dr. Geri Richmond from the Department of Energy highlighted Tokamak Energy's commitment to advancing fusion energy, a crucial step towards clean, sustainable power. - Hideya Moridaira from Furukawa Electric noted the emergence of opportunities through their strategic investment in Tokamak Energy. - Murat Oğuz Arcan from Sabanci Climate Ventures commented on the importance of Tokamak Energy's work in energy transition and sustainability. - Tokamak Energy achieved a fusion-threshold plasma ion temperature of 100 million degrees Celsius in its ST40 spherical tokamak. - The company is involved in designing a fusion energy pilot plant under the U.S. Department of Energy's Milestone-Based Fusion Development Program. - TE Magnetics aims to deploy high temperature superconducting magnet technology for clean and affordable energy and other industrial applications. - The innovative technology enhances the operation of fusion energy devices by confining extremely hot plasma. - Fusion is based on fusing two forms of hydrogen, resulting in energy release that can be transformed into electricity and heat without harmful emissions. - Tokamak Energy aims to commercialize clean fusion energy while also focusing on expanding the performance of HTS applications across various industries. - The company's U.S. branch was selected as one of eight to receive an award from the Department of Energy as part of its Milestone Program.

COMPANIES

Tokamak Energy, East X Ventures, Lingotto Investment Management, Furukawa Electric Company, British Patient Capital, BW Group, Sabanci Climate Ventures, SuperPower Inc, Department of Energy

TAGS

fundraising

DevvStream announces completion of business combination with Focus Impact Acquisition Corp.; Secures up to $43mm to execute growth plans

DETAILS

- DevvStream Holdings Inc. has completed its business combination with Focus Impact Acquisition Corp. - This completion makes DevvStream the first publicly traded carbon credit generation company on a major U.S. stock exchange. - The newly combined entity will be renamed DevvStream Corp. and will begin trading on the Nasdaq under the ticker "DEVS" on November 7, 2024. - DevvStream has secured up to $43 million in additional financing to accelerate its growth plans in the carbon market. - The financing aims to help organizations meet climate and decarbonization targets while improving financial stability. - Sunny Trinh, CEO of DevvStream, emphasizes the commitment to global growth and the alignment of sustainability with profitability. - Focus Impact CEO Carl Stanton expresses excitement about the merger and confidence in DevvStream's management team to drive shareholder value. - DevvStream focuses on co-developing and generating technology-based carbon offset credits in collaboration with global partners. - The company has a systematic approach to generating high-quality carbon credits through partnerships and project investments. - DevvStream has made significant strides since announcing the merger, including acquiring a 50% stake in a major carbon sequestration project in Louisiana. - This project is expected to capture a significant portion of local CO2 emissions and generate revenues from federal tax credits and carbon credit sales. - DevvStream has signed an agreement to purchase carbon credits from an Amazon conservation project, aiming to reduce emissions and support indigenous communities. - The company has established an Electric Vehicle Charging Carbon Offset Program to help charging station networks generate carbon credits and fund expansion. - DevvStream is also launching a program to help building owners in North America generate carbon credit revenue through energy efficiencies. - DevvStream's mission is to create alignment between sustainability and profitability while facilitating access to carbon markets for various organizations.

COMPANIES

DevvStream Holdings Inc., Focus Impact Acquisition Corp., Monroe Sequestration Partners LLC, Crestmont Investments LLC, OK2Charge, E-Fill Electric LLC, Green Energy Technology, Go-Station, Cohen & Company Capital Markets, J.V.B. Financial Group, LLC, Morrison & Foerster LLP, McMillan LLP, Kirkland & Ellis LLP, Stikeman Elliott LLP

TAGS

Carbon markets

Microsoft builds first datacenters with wood to slash carbon emissions

DETAILS

- Microsoft is constructing its first datacenters using superstrong ultra-lightweight wood to reduce reliance on steel and concrete, significant sources of carbon emissions. - The hybrid approach incorporates cross-laminated timber, a fire-resistant wood material that decreases embodied carbon footprint by 35 percent compared to steel and 65 percent compared to precast concrete. - These hybrid datacenters illustrate Microsoft's commitment to decarbonizing its operations, aiming to be carbon negative by 2030 and remove all emitted carbon by 2050. - Microsoft achieved a 6.3 percent reduction in direct emissions over three years, though indirect emissions rose significantly due to datacenter growth. - The company is implementing various strategies, including updating contract language for low-carbon materials and requiring suppliers to use carbon-free electricity by 2030. - Investments in low-carbon building materials are being increased to accelerate supply and to include innovations like hydrogen-powered steel production. - Microsoft launched a $1 billion Climate Innovation Fund to invest in companies developing climate solutions, having already committed $761 million to transformative technologies. - The fund seeks to enhance commercial availability of low-carbon materials across key areas like carbon-free electricity and advanced materials. - Microsoft is also investing in companies like Sweden’s Stegra and Boston Metal, which focus on new methods of steel production with significantly reduced emissions. - Investments in low-carbon concrete technologies include CarbonCure, which injects CO2 into concrete, and Prometheus Materials, which uses microalgae for zero-carbon cement. - Cross-laminated timber is being used in Microsoft's new datacenters, promoting its benefits as a strong and stable alternative to conventional materials. - The installation of prefabricated CLT can be more efficient and safer compared to traditional materials, despite its higher costs. - Microsoft is positioned uniquely to influence the adoption of green building technologies due to its scale and sustainability priorities. - Ongoing planning reflects the complexities of integrating low-carbon technologies into datacenter construction while aiming for a net-zero carbon future. - Microsoft's strategy emphasizes a comprehensive approach across the entire value chain to ensure the effectiveness and durability of new materials.

COMPANIES

Microsoft, Stegra, Boston Metal, Electric Hydrogen, CarbonCure, Prometheus Materials

TAGS

Industrial decarbonization

Microsoft builds first datacenters with wood to slash carbon emissions

DETAILS

- Microsoft is constructing its first datacenters using superstrong ultra-lightweight wood to reduce reliance on steel and concrete. - The use of cross-laminated timber, or CLT, aims to decrease the embodied carbon footprint of the datacenters by 35 percent compared to conventional steel and 65 percent compared to precast concrete. - This initiative is part of Microsoft's broader commitment to achieving carbon negativity by 2030 and removing all carbon emitted since its founding by 2050. - Microsoft reported a 6.3 percent reduction in direct emissions but faced a 30.9 percent increase in indirect emissions attributed to datacenter expansion. - The company is implementing various strategies to enhance decarbonization, including updating contracts to enforce low-carbon material requirements. - Key suppliers must adopt 100 percent carbon-free electricity by 2030, and investments in low-carbon building materials are being increased. - Microsoft perceives its datacenters as pioneering examples of engineered wood use in the U.S. hyperscale market. - Companies across industries, including Microsoft's suppliers, are aligning their sustainability goals to reduce embodied carbon in materials. - Microsoft's Climate Innovation Fund, with over $761 million committed to climate solutions, aims to foster markets for low-carbon materials and clean energy. - The fund focuses on addressing gaps in supply for carbon-free electricity, advanced materials, sustainable fuels, and carbon removal technologies. - Microsoft has invested in companies like Stegra, which is developing a green steel plant that significantly reduces carbon emissions. - Innovative approaches include producing steel using renewable hydrogen instead of coal, leading to water vapor emissions. - Microsoft's investments extend to carbon-free concrete technologies such as CarbonCure and Prometheus Materials. - The company is leveraging its significant market presence to drive the adoption of sustainable building materials more widely. - Cross-laminated timber is praised for its low carbon footprint and faster installation compared to traditional materials. - CLT is produced from sustainably harvested timber, offering significant structural advantages over traditional woods. - While CLT may add 5 to 10 percent to material costs, its efficiency in large projects may offset these costs. - Microsoft emphasizes the importance of ensuring new materials meet safety, resilience, and performance standards for datacenters. - The transition to low-carbon building materials presents multiple challenges, necessitating a comprehensive approach to supply chain management. - To achieve net-zero carbon goals, Microsoft recognizes the complexity of adopting new technologies and the necessity for systemic thinking across the value chain.

COMPANIES

Microsoft, Stegra, Boston Metal, Electric Hydrogen, CarbonCure, Prometheus Materials

TAGS

Industrial decarbonization

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