Dealflow | May 4, 2021

Breakthrough Energy Ventures backs three climate-tech startups

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, May 4Breakthrough Energy Ventures collected another $1 billion at the start of this year to invest in up to 50 startups with game-changing climate solutions (see, “Breakthrough Energy Ventures doubles down on cleantech). The billionaire-backed venture capital firm is backing sustainable cement and concrete startup Solidia Technologies, carbon-capture verification service Pachama, and Fervo Energy, which designs geothermal energy systems.

Low-carbon cement

Solidia says its cement and concrete technology can eliminate more than 1.5 gigatons of CO2. The New Jersey-based company raised $78 million from BEV, Imperative Ventures, Zero Carbon Partners, BP and others.

Nature-based tech

San Francisco-based Pachama uses satellite imaging and AI to measure carbon captured in forests. BEV led $15 million in financing for what Pachama’s Diego Saez-Gil calls “a tech-enabled platform that can unlock climate-meaningful funding for mass restoration and conservation of nature.” BEV’s Peter Turner will join Pachama’s board of directors.

Clean energy

Fervo’s Tim Latimer said the company’s geothermal energy systems “can make 100% carbon-free energy a reality around the world.” BEV backed the Houston-based company’s $28 million Series B investment round.