Looking for insight on cleantech investment deals? Find out more about the latest investment trends here.

Agriculture & Food 

Protix, developer of insect-based nutritional products, raised $57 million in growth equity from European Circular Bioeconomy Fund, BNP Paribas, Prince Albert II Foundation, The Good Investors, Aqua-Spark, Rabo Ventures and Invest-NL. Using larvae from the black soldier fly, Protix produces pet food, fertilizer and lipid oils. The company also offers sustainable insects as chicken and fish feed. Protix aims to use the funds for international growth as well as continued research and development.  

Energy & Power 

Ekona Power, developer of process for production of industrial scale hydrogen, clean power and pure carbon dioxide, raised $62 million in equity financing from Baker Hughes, Mitsui, Severstal and other undisclosed investors. Ekona’s solution involves a methane pyrolysis platform that converts natural gas into hydrogen and solid carbon. The start-up is on the verge of commercializing its technology, and will use the funds to scale its pyrolysis technology to produce turquoise hydrogen. 

Materials & Chemicals 

Kobold Metals, developer of digital mineral exploration software for critical metals used in electric vehicles and energy solutions, raised $192 million in Series B funding from Apollo Project, Bond Capital, BHP, Canada Pension Plan Investment Board, Breakthrough Energy Ventures, Andreessen Horowitz and Equinor. The artificial intelligence-based software uses data models to guide exploration efforts. The company does not offer its solution to external customers but uses the software to invest in mining projects. 

Resources & Environment 

Verdox, developer of direct air carbon capture technology based on electro-swing adsorption, raised $80 million in equity funding from Breakthrough Energy Ventures, Prelude Ventures and Lowercarbon Capital. Verdox’s solution can reportedly capture carbon from air as well as any industrial source and uses 70% less energy than conventional carbon capture systems. Funding will go towards further development of technology, as well as its successful deployment.  

Transportation & Logistics 

Cruise Automation, developer of self-driving vehicles and provider of ride-hailing services, announced an investment of $1.35 billion from SoftBank Vision Fund for commercializing its fleet. The company is introducing its robotaxi service in San Francisco currently, testing out performance between 11 pm to 5 am. Previously, the company raised $900 million from SoftBank Vision Fund.