We have been investing in climate-related startups as angels in the UK and USA for almost 5 years. Our angel portfolio has a current unrealised valuation multiple of 2.3x based on most recent funding rounds. You can see a small selection of our investments below. They illustrate the type of companies in which the Zero Carbon Fund invests.
Investment: H2 2017, Pre-Seed
Technology: Lilac has developed a new ion exchange technology for lithium extraction which cuts capital and operating costs, accelerates project startup, boosts lithium recovery, and unlocks new resources.
Value: Increasing the supply of battery grade lithium available at a reasonable price will be required to meet the forecasted EV demand levels.
Latest News: $20M Series A led by Breakthrough Energy Ventures.
Investment: H1 2017, Seed
Technology: Rebound’s IcePoint® supercharges industrial freezers. Using a proprietary freeze point suppression cycle designed around a natural refrigerant, the technology integrates into legacy refrigeration systems at cold storage or food processing facilities, and deploys bursts of on-demand, high capacity, low temperature cooling – using 35% less electricity than legacy, ammonia-based systems and 55% less electricity than thermal or chemical batteries.
Value: The food ‘cold chain’ uses approximately 17% of global electrical consumption, and is growing rapidly with demand for refrigerated and frozen foods. Rebound’s technology could mitigate up to 681 MMT of GHG emissions by 2050, equivalent to 144 million cars.
Latest News: $5M Series A led by Skyview Ventures and the Clean Energy Venture Group.
Investment: H2 2019, Seed
Technology: E-Zn's zinc-based reactor technology system has the potential to provide long-duration, low-cost grid-scale energy storage. Electricity is turned into physically free zinc material.
Value: Increasing renewable energy sources on the electrical grid will require grid-scale storage to help smooth supply, respond to peaks in demand and maintain safe voltage and power levels.
Latest News: E-Zn's oversubscribed $3.4m CAD seed round was led by Energy Foundry and the MaRS Investment Accelerator Fund. They have also won multiple awards and grants, including $1.6m from Breakthrough Energy Canada.
Investment: H2 2019, Seed
Technology: Gravitricity’s system suspends heavy weights down deep shafts using winches and cables, and raises and lowers them to store and release gravitational potential energy. The system has a long design life, rapid response time, high efficiency and levelised costs of storage well below lithium ion batteries.
Value: As a greater proportion of the grid’s electricity comes from intermittent sources , we have a need for grid-scale energy storage. Gravitricity’s system is competitive with the current dominant solution, pumped hydropower, on cost and performance, but can be located more flexibly. With its rapid response time, it is particularly suitable for frequency regulation applications.
Investment: H2 2018, Seed
Technology: Room air conditioner and heat pump that is twice as efficient and more accessible, that uses refrigerants with massively lower global warming potential.
Value: Space heating and cooling is responsible for 10% of total US primary energy use, and releases refrigerants with high global warming potential. As emerging markets achieve greater income levels, emissions will accelerate. Refrigerant management was chosen as the #1 solution by the Drawdown team.
Investment: H1 2019, Seed
Technology: Building a platform for rapid domestication of novel bacteria strains, genetically modifying them to perform useful tasks more efficiently, for example – creating biodegradable plastic feedstocks from organic waste, making jet fuel from wastewater, making fertiliser using the nitrogen in the air.
Value: Microbiological chemistries are already deployed broadly in industry. MicroByre can improve the economics and reduce GHG emissions by better understanding what is producing the bacteria’s behaviour and optimising it to be more efficient.