mHUB's 2024 Climate & EnergyTech Demo Day was an inspiring showcase of climate innovation and progress. On April 11, the 2024 cohort emerged from mHUB's rigorous six-month Accelerator program to present their groundbreaking technologies to a captivated audience of investors, industry collaborators, and hardtech innovators.
These startups are at the forefront of revolutionizing the way we address pressing environmental challenges. From energy storage devices to carbon capture solutions, renewable energy advancements, and novel materials, each company is poised to make a significant impact in combating the climate crisis.
Since their induction into the program in October 2023, these startups have been immersed in intensive programming that provided mentorship, industry engagement, and product development. Led by Executive Director Thierry Van Landegem, the program began with a sharp focus on customer discovery, guiding startups to identify target markets and refine their prototypes.
Integral to the program is the emphasis on business acumen and financial strategy. Through mentorship, startups honed their business models, unit economics, and go-to-market strategies. At the program midpoint, they pitched to program partners and stakeholders, paving the way for continued growth and scalability and initial investments from program partners, Constellation and Invenergy.
The culmination of the cohort’s efforts was apparent during their Demo Day pitches and product showcase. Keep reading for a snapshot of the remarkable progress and milestones achieved by the 2024 cohort startups during their time in the accelerator program, and what’s on the horizon for them next:
Aeternal Upcycling: Aeternal Upcycling is revolutionizing the circular economy by transforming plastic waste into low-carbon chemicals. They've secured a Clean Energy Tech voucher and a $1.5M Pilot Plant Demonstration grant, along with a Multicultural Innovator Award. Currently, they're initiating a $2.5M pre-seed raise to bolster team expansion and scale operations.
Carbon SeaQuest: Carbon SeaQuest is at the forefront of decarbonizing the maritime industry with their innovative carbon capture systems. They've onboarded ship owners as customers and secured patents, setting the stage for a $1M pre-seed raise and an SBiR grant application.
Cryocellar: Cryocellar's technology stores captured CO2 by creating mineralized biochar rocks, benefiting both American family farms and smallholder farmers worldwide. They're seeking a $500K pre-seed SAFE to advance their mission.
Farm to Flame Energy: By converting biomass waste into clean energy, Farm to Flame Energy aims to install 100-megawatts of capacity within five years. They've raised $625K and forged partnerships with multinational companies like Georgia Pacific.
FurnaQuantum: FurnaQuantum's focus on improving SiC wafer yield for the EV industry has garnered attention. They're currently raising $2M in venture capital funding to further develop their technology.
Metasorbex: Addressing point source emissions, Metasorbex has made significant strides, including hiring a vice president of business development, and designing a carbon capture prototype. They're seeking a $3M capital raise to reach TRL 5 in 24 months.
Next-Ion: Next-Ion's rapid-charging batteries for electric vehicles have attracted federal grants and customer pilots. They've raised $300K and are in the process of closing a $10M funding round, while also raising $250K for new equipment.
Rushnu: Rushnu integrates carbon capture and sequestration processes efficiently, with a focus on reducing energy usage. They've secured two signed LOIs for commercial pilots and are raising funds to further develop their unique technology.
Sensatek: Sensatek offers continuous monitoring for wind turbines, optimizing energy production and reducing downtime. They're in the process of raising $3M, having completed the NextEra Energy Resources Florida Power and Light Accelerator.
Tikal Industries: Tikal Industries is developing an industrial water IoT platform to optimize energy plant operations. They've raised $251K and are currently raising a $500K pre-seed round to fuel their growth.
Each startup's journey through mHUB's Accelerator program exemplifies the power of innovation and collaboration in tackling global challenges. Earlier in the day during the Demo Day on April 11, mHUB hosted an event for the U.S. Department of Energy to announce $5M in funding towards clean energy manufacturing, as part of the MAKE IT prize. After recipients were unveiled, the DOE hosted a panel conversation about growing the new clean energy manufacturing base in the Midwest.
With continued support and investment, these hardtech ventures are poised to drive meaningful change in the climate and energy sectors, shaping a more sustainable future for generations to come.
Learn more about the 2024 mHUB Climate & EnergyTech Accelerator teams here and schedule a meetings 1-on-1 meeting with them here.
Missed the event? Catch the livestream here.
Thank you program partners:
