Participated · Series E · Dec 2025

Fervo Energy develops next-generation geothermal power using innovations in horizontal drilling, fiber-optic sensing and advanced reservoir engineering to make geothermal scalable and competitive. Its flagship Cape Station project in Beaver County, Utah is slated to deliver first power to the grid in 2026, reach about 100 MW of operating capacity by early 2027 and has plans to scale to 500 MW. Cape Station is fully contracted through power purchase agreements with Southern California Edison, Shell Energy and community choice aggregators. The company secured long-term non-recourse project financing for the first phase of Cape Station to fund remaining construction costs and meet counterparty credit support requirements. Fervo positions its technology and commercial contracts as enabling Enhanced Geothermal Systems to be treated as a bankable, utility-scale infrastructure asset.

Participated · Equity · Dec 2024

1KOMMA5° operates Heartbeat AI, a virtual power plant that buys electricity on the spot market when prices (and CO2 emissions) are low and sells excess power back to the grid when prices are high. The company charges a flat software fee rather than margins on electricity and enables real-time individual electricity prices instead of conventional fixed tariffs. It positions Heartbeat AI as a grid-stabilizing solution amid rising renewable generation. Less than four years after its foundation, 1KOMMA5° has expanded through several acquisitions, including Arkana Energy, Solaray Energy, ZEWO Energy and Zonduurzaam. The company has secured a €150M Pre-IPO round, bringing total funding to over €650M. With the new funding it plans to accelerate growth, roll out Heartbeat AI across Europe and Australia, allow customers to become shareholders, and pursue an eventual IPO while building a European “New Energy” household brand. 1KOMMA5° develops a vertically integrated service platform for clean energy deployment, aiming to serve millions and replace fossil fuels and high energy costs. The company says it is executing toward a long-term 2030 trajectory and plans to become subsidy independent. Management is preparing for a public listing and has announced new U.S. investors joining as shareholders. The LinkedIn post cites Hamilton Lane and one of the largest U.S. pension funds as new shareholders and highlights continued interest from tier‑1 U.S. investors. Customer comments in the thread reference live installations (battery and wallbox) that have fed power into the grid and plans to use smart meters and Dynamic Pulse. Management thanks teams, partners, and customers and frames the investor additions as part of scaling the business internationally. 1KOMMA5° offers a one-stop shop for sale, installation and services for solar panels, energy storage, EV charging infrastructure and heat pumps, supported by its Heartbeat energy IoT platform. Heartbeat delivers centralized intelligent energy management to help homeowners optimize power consumption and increase grid independence. The company is pursuing aggressive European expansion through acquisitions and investments in portfolio companies in photovoltaics, charging infrastructure and heat pumps. 1KOMMA5° operates 68 locations with around 1,700 employees across Germany, Sweden, Finland, Denmark, Italy, Spain and Australia. It publicly targets €500M in revenues in 2023 and aims for €10B by 2030, planning to convert 1.5M buildings by then and to build capacity to convert 500,000 buildings per year. 1KOMMA5° provides carbon-neutral energy systems and the proprietary "Heartbeat" energy IoT platform that delivers centralized intelligent energy management to optimize home energy in response to price fluctuations. It operates a virtual power plant that pools customers' photovoltaics, electricity storage, heat pumps and charging columns to increase the profitability of networked customer systems. The company also invests in electrical-sector companies—focusing on photovoltaic systems, charging infrastructure and heat pumps—and offers partner entrepreneurs its software, centralized services, bundled purchasing, growth capital and a reverse shareholding in 1KOMMA5° Holding. 1KOMMA5° currently operates over 65 sites with around 1,500 employees across Germany, Sweden, Finland, Italy, Denmark, Spain and Australia and has capacity to convert 500,000 buildings per year to climate-neutral power, heat and mobility. Financially, the company became a unicorn in June after previously raising €630 million and this week closed an undisclosed double-digit million euro deal with VC firm 2150. It will use the funding to further develop and expand Heartbeat software and to open an R&D centre in Berlin with over 100 employees for software and product development and a test laboratory. 1KOMMA5° develops home-focused sustainable energy solutions, centered on its Heartbeat energy manager and companion app that give real-time visibility and optimisation of household energy flows. The company is pursuing vertical integration across the value chain and investing in device connectivity, virtual power plants, and broader energy management technology. It has expanded geographically via the acquisition of Viasol and operates with regional partners across 40 locations in Germany, Sweden, Finland and Australia, with further market entries planned. 1KOMMA5° announced a high double‑digit million investment in a new R&D site and team in Berlin to accelerate product and IoT development. Heartbeat is slated to be compatible with existing energy devices by 2024, supporting the company’s ambition to create the largest virtual power plant. The firm emphasizes reduced carbon footprints and energy cost savings for homeowners as core customer benefits.

Participated · Series D · Dec 2024

Amp Robotics builds AI-powered robotic sorting systems that use cameras and robotic arms to identify and pluck recyclables from conveyor belts. The company shifted its business model from placing robots in existing plants to running entire sorting facilities as a service. Amp handles operations, maintenance, and upgrades while contracting partners handle waste sourcing, offtake of valuable materials, and disposal of non-recyclables. The company charges customers per ton of waste sorted. The decade-old company has deployed around 400 robots and operates three facilities with another in the works. Amp recently raised $91M in a Series D, a round that was slightly smaller than its prior Series C, which raised $104M per SEC filings, highlighting fundraising headwinds for mid- to late-stage startups. AMP Robotics develops AI-powered robotic sorting systems (its flagship product is AMP Cortex) to pick and reclaim plastics, cardboard, paper, cans, cartons and other packaging types. The company says Cortex can perform 80 to 120 picks per minute and its AI platform has identified over 75 billion objects to date. AMP offers a more compact AMP Cortex-C and an integrated, standalone facility offering, and also resells recyclable commodities to end-market buyers. The startup employs around 200 people and reports a robotic fleet of roughly 275 units deployed in over 100 centers, with Waste Connections as its largest customer. AMP plans to grow its secondary sortation business across three U.S. production facilities in the Denver, Atlanta and Cleveland metro areas and pursue larger fleet-wide and international deployments. The company says new capital will help scale operations, retrofit existing recycling infrastructure and build technology and team capacity for upcoming opportunities. AMP Robotics develops AI-driven computer vision and high-speed robotics systems (AMP Cortex and AMP Neuron) that identify and sort recyclables from mixed material streams. Its technology recognizes materials by color, size, shape, opacity, and brand, and can recover items as small as bottlecaps or specific items like Keurig pods. AMP has hundreds of deployments across North America, Asia, and Europe and a coast-to-coast U.S. presence spanning more than 20 states, and signed its largest contract to deploy 24 systems with Waste Connections. The company will use the new funding to scale operations, develop new AI product applications for materials recovery facilities, and support market expansion with CPG partners such as Keurig Dr Pepper to help meet recycled-content goals. AMP's technology aims to improve material quality, worker safety, productivity, and reduce costs and greenhouse gas emissions while increasing recycling rates and resource recovery. Headquartered and manufactured in Colorado, AMP positions itself as the leading provider of AI-guided robotics systems for recycling globally. AMP Robotics is a Denver-based company that builds recycling robots combining computer vision, machine learning and robotic automation to improve sorting efficiency and material quality. Its systems can identify branded packaging and are used to sort plastics, cartons, fiber and metals, with deployments across multiple U.S. states. In October the company completed a 14-robot installation at Single Stream Recyclers, the largest single deployment in the recycling industry, and its robots can sort and pick about twice as fast as people with higher accuracy. AMP has two revenue streams: a robotics-as-a-service offering and a direct sales option, and it has made installations in California, Colorado, Indiana, Minnesota, New York, Pennsylvania, Texas, Virginia and Wisconsin. The company plans to use new funding to expand manufacturing capacity, broaden its market scope and push into international markets, and it is building out reporting capabilities tied to its vision systems. AMP is also exploring applications beyond recyclables, including automotive scrap and construction waste.

Participated · Equity · Oct 2012

BrightSource Energy designs and develops concentrating solar thermal technology to produce electricity and steam for power, petroleum and process markets. The company operates a 6 MW thermal demonstration facility in Israel and a 29 MW thermal facility for Chevron in Coalinga, California, and is constructing the 377 MW (net) Ivanpah solar project, which is more than 60% complete and expected to provide power to over 140,000 California homes by the end of 2013. Its next two projects, the 500 MW Rio Mesa and 500 MW Hidden Hills, are under review by the California Energy Commission with permitting decisions expected in 2013. BrightSource is collaborating with partners including Alstom on expanded geographic deployments in India and Australia and previously announced partnerships in the Mediterranean Ring and Africa. The company is also pursuing R&D on thermal storage and hybridization with fossil fuels. Financially, BrightSource has raised more than $80 million in additional equity financing, bringing total equity financings to over $615 million to support U.S. builds and international growth. BrightSource Energy develops large-scale solar power tower projects such as the Ivanpah Solar Electric Generating System in the Mojave Desert. The company focuses on utility-scale solar thermal generation and has secured power purchase agreements with major utilities, including Southern California Edison. BrightSource received a $168 million investment from Google’s Green Business Operations team that will be applied specifically to completing the Ivanpah project rather than the company’s broader operations. Google.org had previously invested $10 million three years earlier and took an equity stake. Ivanpah is expected to be completed around 2013, operate for 25 years, and produce about 392 gross megawatts — nearly doubling U.S. solar thermal output when finished. Conservation and Native American groups have filed lawsuits expressing concern about the project’s environmental impact on Mojave habitat and endangered tortoises. BrightSource Energy develops utility-scale solar thermal power plants for utilities. The company has contracts totaling 2,610 megawatts with Pacific Gas and Electric Company and Southern California Edison to build 14 solar power plants in the US southwest by 2016. It raised an additional $150m in its Series D equity financing to support those contracts and to execute international expansion plans. The Series D was led by VantagePoint Venture Partners, Morgan Stanley and Draper Fisher Jurvetson, with new investors Alston (which committed to invest up to $55m) and the California State Teachers Retirement System participating. The new round brings total capital raised to date to more than $300m. BrightSource has operations in the United States, Israel, and Australia.