Off-grid energy storage monitoring, feedstock-agnostic battery recycling, and permanent carbon removal using organic waste: Recent Deals worth looking at 

Agriculture & Food 

Elicit Plant (2017) develops phytosterol-based biological inputs for broadacre crops. Elicit Plant’s technology enhances plant resilience against potential environmental stressors and decreases crop water use.  

On November 14th, Elicit Plant raised $48M in Series B funding from Carbyne Equity Partners, Sofinnova Partners, European Circular Bioeconomy Fund, and BPI.    

The funding will be used to enter the U.S. market next year and expand commercially in Europe and Brazil. The funding will also be used to expand strategic partnerships with agri-input players and accelerate research and development activity. 

Energy & Power  

Ampd Energy (2014) manufactures off-grid energy storage systems and connectivity software with real-time monitoring and diagnostic capabilities to optimize the industrial and construction sectors. Their energy storage products can reduce caron footprints by 90% and eliminate risk associated with diesel handling and usage. 

Ampd Energy’s oversubscribed November 5th round raised $27.3M in Series B funding from Kibo Invest, Openspace Ventures, Taronga Ventures, 2150, and MTR Labs.  

The funding will be used to further expand decarbonization across new verticals like mining and manufacturing in 2025.  The round, in addition to the support of their partnership with Kibo Invest and Openspace, will also be put towards targeting new regions, including the Middle East, Europe, the U.S., and Southeast Asia.  

Materials & Chemicals 

Ecoelectro (2015) develops alkaline exchange materials for hydrogen production and storage. Their anion exchange membrane (AEM) electrolyzers use recyclable, readily available materials that replace the rare earth metals and harmful chemicals like PFAS that are typically used in proton exchange membrane electrolyzers.  

Ecoelectro raised $10.5M in Series A funding on November 14th from Toyota Ventures, Starshot Capital, DNX Ventures, Energy Revolution Ventures, New Climate Ventures, Banco Popular Impact Fund, Techstars, and other undisclosed investors.    

Ecoelectro will use the investment to accelerate the development and deployment of their AEM electrolyzers. The company has previously received grant funding from the U.S. Department of Energy, the National Science Foundation, and the New York State Energy Research and Development Authority.  

Resources & Environmental Management 

Vaulted Deep (2014) develops slurry sequestration technology that injects organic waste underground for permanent carbon removal. A spinoff of Advantek Waste Management Services, Vaulted Deep processes a range of pathogenic and contaminated organic wastes that captures CO2 via biomass.  

On November 14th, Vaulted Deep closed a $32M Series A round from investors Prelude Ventures, Lowercarbon Capital, Earthshot Ventures, WovenEarth Ventures, Fall Line Capital, and Rethink Impact.   

The capital will be used for the development of additional injection well sites, including beginning to move forward on the company’s next U.S. facility, Monarch Fields. Vaulted Deep has already issued 7,000 tonnes of CDR since it launched in 2023.  

Transportation & Logistics 

Beta Technologies (2017) develops electric aircraft, eVTOL, and infrastructure for commercial, cargo, and passenger applications.  

Beta Technologies’ November 6th round raised $318M of Growth Equity funding from existing investors Fidelity Management & Research Company, TPG Rise Climate, Qatar Investment Authority, and new investor United Therapeutics, a longtime customer.  

The round will support production and commercialization of their electric aircraft ALIA evToL and charging infrastructure build-out. Currently, BETA is seeking certification of two variations of its all-electric aircraft, the ALIA VTOL and CTOL, which enables 83% and 75% emissions reduction, respectively.  

Waste and Recycling  

tozero (2022) provides lithium-ion battery recycling technology. The company takes a feedstock-agnostic approach that accommodates a variety of battery types and reduces emissions by around 70% when compared with conventional mining.  

The company closed an extension of their September 2022 Seed round valued at $11.5M from Nordic Ninja, IQT, Honda Motor Co, Atlantic Labs, Verve Ventures, Possible Ventures, and JGC Holdings Corporation. The extension brings total Seed funding to $14.9M.   

The investment round will be used to build tozero’s first-of-a-kind industrial deployment plant following the first commercial delivery. It will also support team expansion and scaling operations to process 30,000 tonnes of battery waste annually by 2026.