Led · Equity · Apr 2024

SWAT Mobility provides AI-driven mobility solutions focused on generating efficient travel routes for clients in the mobility sector, including transport operators and government agencies. Its core offering leverages artificial intelligence to optimize routing and operational planning for customers in the mobile mobility space. The company recently secured a $3.8M strategic investment. The financing was provided by NEC & Translink Orchestrating Future Fund, NX Global Innovation Fund and Chubu Electric Power. The funding was disclosed in an article dated April 19, 2024.

Participated · Series A · Mar 2024

Arkhel Technologies develops digital services to enable a decarbonized society, centered on two core products: AAKEL eFleet (smart charge/discharge management for EV fleets) and AAKEL eCarbon (GHG visualization and reduction simulation). AAKEL eFleet automates EV charging and fleet management using AI and IoT to optimize charging during low-cost periods; AAKEL eCarbon calculates, visualizes, and simulates emissions-reduction measures. The company also offers consulting that covers GHG measurement, strategy formulation, and implementation to provide end-to-end decarbonization support. Arkhel has received recognition including APAC Cleantech 25 selection, B Corporation certification, and several Japanese awards. It regularly engages in local sustainability activities (beach cleanups, tree planting, SDGs contests) and is positioning its products for wider social implementation. Following a pre-Series A raise of ¥225 million, Arkhel plans to expand system functionality, strengthen its platform for global deployment, and scale marketing to accelerate service rollout.

Participated · Equity · Oct 2023

Eavor Technologies develops and deploys patented Eavor-Loop™ closed-loop geothermal systems that circulate a benign working fluid through underground drilled passages to create a continuous heat exchanger. The technology is designed to provide a consistent, resilient source of clean energy without the intermittency of some renewables and with a smaller environmental footprint than traditional geothermal. Led by President & CEO John Redfern, the company aims to scale deployment of its technology using the newly raised capital. Eavor intends to use the proceeds to accelerate development and deployment of its geothermal solutions. No operating metrics were disclosed in the article. Eavor Technologies, headquartered in Calgary, Alberta, develops Eavor-Loop™, a closed-loop geothermal system that circulates a benign working fluid isolated from the environment through a massive subsurface radiator to collect heat via conduction. The company positions the solution as scalable, clean, dispatchable, baseload-capable and flexible for heat and power. OMV AG has entered a commercial agreement with Eavor to pursue large-scale deployment in Europe and beyond, receiving preferred licensing terms, access to services and development support. OMV will initially focus on deployment in Austria, Romania and Germany. Eavor and its project partners will begin drilling operations at the Eavor-Europe site near Geretsried, Bavaria this summer, the world’s first commercial implementation of an Eavor-Loop™. Financially, Eavor completed the first close of a €34m (C$50m) Series B equity funding round with follow-on investments from bp Ventures, Eversource Energy and Vickers Venture Partners, and Chubu Electric Power concurrently converted its debenture. Eavor develops the Eavor-Loop, a closed-loop subsurface radiator that circulates a benign working fluid isolated from the environment to collect geothermal heat by conduction. The company positions the technology as the world’s first truly scalable form of clean, dispatchable, baseload-capable and flexible power. In 2022 Eavor completed the Eavor-Deep™ demonstration in New Mexico, drilling a two-leg multilateral well to 18,000’ TVD and ~250°C and achieving key technical and operational milestones. Eavor says those results, together with prior proof of concept at the Eavor-Lite™ site in Alberta, validate the elements required to construct and operate commercial Eavor-Loops. The company has a stated goal of reaching sub US$60 per megawatt-hour costs and enabling widespread global scalability. Eavor has received equity support from a range of energy and venture investors, including bp Ventures, Vickers Venture Partners, BDC Capital, Temasek, Chevron Technology Ventures, BHP Ventures, Helmerich & Payne, Precision Drilling and Chubu Electric Power. The recent disclosed financings include a CAD$10M follow-on from bp Ventures and additional equity from Helmerich & Payne. Eavor Technologies commercializes the Eavor-Loop™, a completely closed-loop geothermal system that circulates a benign working fluid through a large subsurface radiator to collect heat via conduction. The design avoids conventional geothermal exploration risk by relying on conduction rather than resource-dependent reservoirs, aiming to provide long-term, predictable, and dispatchable baseload power. Eavor positions the technology as highly scalable and independent, suitable for global deployment and local energy autonomy. The company is moving into first projects and a global commercialization phase and says strategic partners will be important in that transition. Eavor has received equity support from multiple global energy and investment partners, which it cites as endorsements of its commercialization strategy. The article does not disclose revenue, user, or other operating metrics. Eavor Technologies builds and commercializes Eavor-Loop™, a closed-loop geothermal system that circulates a benign working fluid through subsurface wellbores to harvest the Earth’s natural heat and generate zero-emission dispatchable power. The technology is described as a ‘‘go anywhere’’ scalable solution that can function as both baseload power and a form of energy storage complementary to wind and solar. Eavor says its system can directly replace traditional baseload sources such as coal and nuclear because of its consistent heat harvesting. The company completed a USD$40 million (CAD$50.7 million) funding round to support commercialization and to scale its project pipeline. Proceeds will also bolster ongoing R&D aimed at driving Eavor-Loop’s cost down to universally competitive levels. Eavor has stated a goal to power the equivalent of 10 million homes by 2030 and is headquartered in Calgary, Alberta.

Participated · Equity · Jul 2019

DeCurret provides financial services involving transactions and settlements of digital currency and operates a virtual currency exchange service. The company positions itself as the “Main Bank of Digital Currency” and intends to extend its services beyond virtual currency to broader digital currency use. DeCurret is developing a new settlement platform designed to enable real-time, direct exchange of value with superior traceability, aiming to reduce social costs and invigorate economic activity. To accelerate that development it is acquiring corporate partnerships and strengthening its development system. Following a private placement that raised ¥3.4 billion, the company’s capital (including capital reserve) stands at ¥8.63 billion. Founded in January 2018 and based in Chiyoda-ku, Tokyo, DeCurret is an equity-method investee of Internet Initiative Japan and is a member of the Japan Virtual Currency Exchange Association.