Clean Energy Ventures

Massachusetts is quickly becoming a global hub for climate tech innovation, and thanks to organizations like the Environmental League of Massachusetts (ELM), regional leaders are pushing for continued investment in the local workforce and innovative technologies to advance the US’ leadership in key energy sectors.  As a member of the #ELMCorporateCouncil, we’ve joined more than 50 other institutions in calling on the Massachusetts Legislature to fully fund Massachusetts Clean Energy Center, which plays a key role in training our equitable clean energy workforce, as well as fostering technical innovation. Let’s work together to ensure that Massachusetts becomes the best place to start, staff, and scale climatetech companies. Read our shared letter: https://bit.ly/3EhcKQ0

We are thrilled to welcome Markus Kritzler to the team as Carbon Upcycling’s new Chief Revenue Officer 🎉 With over 20 years of strategy and executive experience, most recently serving as Head of Group Strategy at Holcim Group, Markus joins us at an exciting moment as we approach the launch of our flagship commercial-scale project at one of Canada’s largest cement plants. Here’s what our CEO, Apoorv Sinha, has to say: “Markus’ deep industry knowledge in both developed and emerging markets, proven leadership, and strong strategic thinking track record will be invaluable as we expand our market presence globally. With Markus at the helm of our business development efforts, Carbon Upcycling is well-positioned to forge critical partnerships and accelerate the adoption of our low-carbon solutions with our partners in the cement and building materials industry.” Welcome, Markus!

What’s in store for the climatetech sector in Massachusetts? Scott Kirsner spoke with leaders including CEV COO Ted Dillon and Transaera, Inc. CEO Sorin Grama to hear their outlook for the next four years. Working with some of the most innovative climate companies across the US and Europe, Ted believes that though we’ll see some uncertainty in the market, there will be new energy opportunities that will need investment from Boston’s VCs. Despite the US scaling back on climate, there are avenues for energy investments right here in the states and endless opportunities abroad. More on what the Massachusetts investor community is keeping an eye on: https://lnkd.in/e8mtJZDd

Why did we make a significant investment in DG Matrix? In our latest “Why We Invested” piece, CEV Investment Partner Peter Sopher dives into why CEV couldn’t pass up DG Matrix’s innovative approach to solid state transformers, which will be a critical technology in the future of transformers. Without needing to rely on utility or OEM customers, nor capital-intensive manufacturing facilities, DG Matrix’s compact transformers are able to support electrification, EV charging, and buildings at scale, from hospitals and grocery stores to gas stations and data centers. More from Peter on why DG Matrix is transforming power distribution: https://lnkd.in/efF68XkG

Highlights from the ARPA-E Energy Innovation Summit ✨ Back for another insightful conference and expo, CEV’s Micha Ben-Naim and Dr Charlotte Kirk spent a few days hearing about the next wave of innovation already making an impact across critical industries from manufacturing to recycling to sustainably establishing domestic supply chains for energy industries. Check out a few snapshots below of our team and our portfolio companies in action.  

Another great CERAWeek in the books for the CEV team, where we sat in on insightful conversations on the next era of energy innovations from leading industry voices, including CEV portfolio CEOs from DG Matrix, OXCCU TECH LTD, and Transaera, Inc. Thanks to all who also joined us at our event, it was great to see you all in Houston! 

Voting for the Climate50 is open! 🌍 Highlighting companies making bold bets in climate, the Climate50 list is rounding up the top 50 investors in the sector. If you love the work we’re doing, make sure to vote for CEV in the Public’s Favorite VC category. Check out the comments for the link to vote! 

Meet the latest company in our portfolio, DG Matrix! Introducing a new approach to grid management, DG Matrix’s novel Power Router technology replaces the need for multiple electrical systems with one solution – a critical technology to meet rising load growth. Recognizing that sectors across AI, EVs, and electrification are struggling to manage the rise of more complex electricity configurations, DG Matrix developed a versatile, cost-effective solution to integrate multiple AC and DC energy sources and loads simultaneously without sacrificing grid integrity. With plans to scale commercially this year, DG Matrix’s decarbonized energy system will enable the U.S. to lead AI delivery and electrification, while alleviating grid pressure globally. We’re grateful to be joined by our powerhouse cohort of co-investors: ABB, Cerberus Ventures GmbH, Chevron Technology Ventures, and Piedmont Capital. Congrats to Haroon Inam and the DG Matrix team on this milestone! More on how DG Matrix is transforming grid management: https://bit.ly/4iH54oE

⚡DG Matrix raises $20M in funding to revolutionize global energy infrastructure with the world’s first multi-port solid-state transformer⚡ The oversubscribed seed round led by Clean Energy Ventures with participation from ABB, Chevron Technology Ventures, Piedmont Capital Investments, and Cerberus Capital Management will enable DG Matrix to accelerate progress on achieving key milestones, including: - Deploying second-generation Power Router units - Ramping our Raleigh-Durham facility - Executing on our backlog of $43M of POs - Hiring all-star team members - Driving forward further innovations as we tackle multiple multi-billion-dollar markets The DG Matrix Power Router platform is a step change for this industry, replacing a legacy solution of 15-20 devices and enabling integration of multiple AC and DC energy sources and loads in a single solution that is more versatile, efficient, and compact than any product on the market. Delivering on the tens of millions of dollars’ worth of purchase orders already secured and capitalizing on accelerating commercial momentum, DG Matrix is excited to team up with this renowned group of investors to push the boundaries of what’s possible for the AI datacenter and electrification industries. As we reach this major milestone, we continue to look toward the future. Thank you to our customers, partners, investors, and team for your support on our mission to enable electrification and decarbonization everywhere. 🔗 Read more here: https://lnkd.in/ebtjXveB #EnergyInnovation #AI #PowerRouter #Electrification #Decarbonization

👋 On the ground at CERAWeek: Catch Daniel Goldman, Peter Sopher, and Dr Charlotte Kirk on site all week! And if you’re interested in connecting with a great group of award-winning companies, our portfolio companies including Ayrton Energy, LineVision, Advanced Ionics, Carbon Upcycling Technologies, Transaera, Inc., OXCCU TECH LTD, Noon Energy and Electrified Thermal Solutions, can be found at the event too.