Participated · Series A · Jul 2026

Hephae Energy Technology develops ultrahigh-temperature robotics, including drilling systems designed to enable precise well positioning for geothermal projects by overcoming temperature and reliability limitations of conventional drilling tools. Its technology aims to access deeper, hotter rock to support expanded geothermal energy development and to increase drilling speed and reliability. The company is led by CEO Steve Krase and is based in Houston, TX. Financially, Hephae has now raised a total of $24.7M following its $17.8M Series A. The newly raised funds are intended to accelerate commercial deployment of its advanced drilling systems and move the company toward broader market commercialization.

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.

Led · Series D · May 2023

Gradiant develops and deploys proprietary water and wastewater treatment technologies and integrated digital solutions for industrial customers. The company serves industries including semiconductors, pharmaceuticals, food and beverage, lithium and critical minerals, and renewable energy. Its solutions aim to reduce water usage, reclaim resources, and convert wastewater into freshwater, and it counts customers such as Micron, TSMC, GSK, Pfizer, SLB, Rio Tinto, AB InBev, and Coca-Cola. Gradiant was founded at MIT by Anurag Bajpayee (CEO) and Prakash Govindan (COO) and has grown to over 900 employees worldwide. With the new Series E financing, the company plans to expand globally, pursue strategic acquisitions, accelerate R&D, scale operations, and prepare for an eventual IPO.