Participated · Seed · Mar 2025

BlueShift is a Boston-based climate-tech company building redox-based, membrane-free electrochemical systems that process alkaline industrial waste and seawater to recover critical minerals such as nickel and rare earth element neodymium. By leveraging infrastructure already found at desalination and power plants, the platform both isolates valuable materials and captures CO₂ directly from the ocean, addressing supply-chain security and climate mitigation simultaneously. The company operates out of Greentown Labs and MIT’s The Engine accelerator, two leading North American climate-tech hubs. Recently raised capital will fund its first pilot installation in Boston Harbor, a key milestone toward commercial deployment. BlueShift positions its technology as a means to create alternative, sustainable mineral supply chains while enabling gigaton-scale oceanic carbon removal. The pre-seed round provides the company with $2.1 million to advance this objective, although no revenue or user metrics have been disclosed to date.

Participated · Equity · Jul 2023

Avnos is commercializing its proprietary Hybrid Direct Air Capture (HDAC) system, a water-positive approach that simultaneously captures atmospheric CO₂ and produces clean water, eliminating two major cost barriers—external heat and water consumption—found in conventional DAC systems. HDAC’s efficiency and geographic flexibility allow deployment across diverse industries and locations, and the technology is now being scaled through Project Cedar, a flagship U.S. facility slated to be operational by the end of 2026. The plant will deploy four HDAC modules capable of removing 3,000 metric tons of CO₂ and generating over 6,000 tons of water annually. Backed by partnerships with Shell, Mitsubishi Corporation, the Office of Naval Research, and the U.S. Department of Energy, Avnos has secured more than $100 million in combined private and public funding to date. The company is headquartered in Los Angeles and positions its water-generating, energy-efficient process as a repeatable blueprint for global carbon-removal infrastructure.

Participated · Equity · Feb 2022

Ekona Power Inc. develops a pulsed methane pyrolysis (PMP) reactor, branded xCaliber™, that dissociates methane into hydrogen and solid carbon using combustion and high‑speed gas dynamics. Its system is catalyst‑free, uses minimal electricity and no water, requires no carbon‑dioxide sequestration, and is designed to be low‑cost, scalable and compatible with existing natural‑gas infrastructure. Ekona states the process can reduce greenhouse‑gas emissions by up to 90% compared with conventional hydrogen production methods. The company is expanding its Burnaby test facility and will build and test a pilot Customer Demonstration Plant called Ekona Gold Creek, a 1‑tonne‑per‑day unit to be deployed at Arc Resources' Gold Creek gas plant. That plant is planned to be built, commissioned and tested in 2025 for operations in 2026. NRCan has supported Ekona since 2020 and the current project is intended to validate performance against commercial targets and explore decarbonization of British Columbia's natural gas network. Ekona Power is a Vancouver-based venture developing a novel methane pyrolysis platform that disassociates feedstock methane into hydrogen and solid carbon, substantially reducing CO2 emissions. The technology is built on principles of combustion and high-speed gas dynamics and is designed to be low-cost, scalable, and flexibly sited wherever natural gas infrastructure exists. Ekona says its solution can produce hydrogen at costs on par with conventional steam methane reformers while considerably reducing greenhouse gas emissions. The company plans to use the recently raised capital to advance commercial readiness and commercialization of the technology. Ekona was selected by Breakthrough Energy Solutions Canada in 2020 and was named to the 2022 Global Cleantech 100. Fort Capital Partners acted as financial advisors and Blake Cassels & Graydon LLP served as legal counsel on the transaction.

Participated · Equity · Jan 2019

Modumetal leverages a patented nanolamination manufacturing process to bring advanced metal coatings to industrial-scale applications. Its initial products include NanoGalv, a zinc-nickel nanolaminate deployed for corrosive service and high-strength applications, and NanoPlex, a nickel-cobalt nanolaminate for corrosion and wear resistance in subsurface applications. Led by CEO Dennis Creech, the company operates a production facility in Houston, Texas. Modumetal raised $14M in a Series A-2 financing to accelerate commercialization of its oil and gas coating solutions and to scale operations. The company intends to expand its customer base into automotive and sustainable energy end markets and grow its production capabilities. It also added two independent board members — Tushar Porwal (BrightDrop/GM) and Robert Workman (PSS Industrial Group) — to support industry expansion. Modumetal produces nanolaminated alloys through an electricity-powered, layered manufacturing process that configures raw materials at scale to achieve enhanced strength, corrosion resistance and wear properties. Its first commercial products are fasteners and connectors for high-pressure systems; it is also developing an alloy to protect pumps and valves from adhesive wear and aggressive corrosion. The company’s metals are already being used by major oil and gas firms including ExxonMobil, Chevron, BP, ConocoPhillips, Noble Energy and ADNOC. Modumetal operates a 30,000 square-foot production facility in Maltby, Wash., and the recent financing will be used to scale production there. The company plans to license its manufacturing process with partners globally to meet international demand and to expand into sectors such as construction, infrastructure and transportation. CEO and co-founder Christina Lomasney, a University of Washington-trained physicist who previously worked at Boeing, leads the company after more than a decade of development and testing. Modumetal develops and applies nanolaminated metal alloys—ultra-thin layered metal coatings—that increase corrosion resistance for pipes and industrial equipment. The company's process can "grow" metal over parts in layered rings, producing a metallic plywood‑like structure that can enable higher-temperature operation and improved efficiency in turbines and propulsion systems. Its coatings are being piloted by major oil and gas firms including Chevron, ConocoPhillips and BP, which have also invested in the company. Modumetal acquired related intellectual property from a Midwestern firm that went bankrupt and seized the opportunity to build the technology further. CEO Christina Lomasney, a fourth‑generation physicist, leads the company and has emphasized changing how metallurgy is studied and applied. The company says production costs for the nano-laminated alloys are comparable to existing market alternatives and is positioning the technology for broader commercial deployment. Modumetal develops non-corrosive nanolaminated coatings that the company says are stronger, lighter and more durable than steel. The technology, developed by co-founder Christina Lomasney, originated from her earlier company and is claimed to be 200–300 times better than the next best alternative. Modumetal works with partners in the transportation and energy sectors; Chevron is both an investor and a customer. The 20-person startup is headquartered in Seattle’s Fremont neighborhood and is led by UW‑trained physicist Lomasney. The company is currently in a pre-specification phase, scaling up production and hosting trials to meet industry consensus-based standards. Leadership says it plans to compete on pricing, expects a major turning point in the next year to 18 months, and has recently added Concur CEO Steve Singh to its board.

Participated · Equity · May 2014

Skyonic develops SkyCycle™, a thermolytic chemical process that captures CO2 emissions and converts them into marketable, carbon-negative chemical products. The process is reported to capture CO2 at an estimated cost of $16–$25 per ton, below industry averages. Products from the process include hydrochloric acid and calcium carbonate (limestone), which can be used in glass, paper, cement, paint, PVC pipe and other applications. Skyonic is testing the technology at a demonstration scale at the Capitol Aggregates Cement Plant in San Antonio and is building a commercial-scale plant using its SkyMine® technology. Led by founder and CEO Joe Jones, the company is pursuing commercialization and international growth. Financially, Skyonic recently raised $12.5M and also joined a CAD$500k grant from the Climate Change and Emissions Management Corporation to support development toward commercialization. Skyonic develops technologies that extract and mineralize carbon dioxide from industrial flue gas into commercial products such as baking soda, hydrochloric acid and limestone while scrubbing SOx, NOx and mercury. The company builds new and retrofittable plants designed to produce carbon‑negative chemical products at low cost. Skyonic plans to use the recent financing to build a commercial‑scale carbon capture and mineralization plant at Capitol Aggregates Cement in San Antonio, Texas, which is expected to enable the profitable removal of more than 300,000 tons of CO2. The company also intends to advance its global IP portfolio of carbon chemistry solutions and fund R&D and operations. Skyonic was founded in 2005 by inventor and CEO Joe Jones. Its recent financing and grant activity indicate capital support for commercialization and scale‑up. Skyonic has developed an electrolytic carbon-capture technology, SkyMine, that selectively removes CO2, acid gases and heavy metals from flue gas and recycles them into hydrochloric acid, sodium bicarbonate and other byproducts. The company is based in Austin, Texas and was founded in 2005 by CEO Joe Jones. Skyonic is building a carbon capture and utilization plant at Capitol Aggregates in San Antonio, Texas; once operational in 2014 the facility is expected to capture 83,000 short tons and offset an additional 220,000 short tons of CO2 annually. The firm intends to use the recent funding to support construction costs for the U.S. plant, advance its global IP portfolio of green carbon chemistry solutions, and for R&D and operations. Financially, Skyonic has received the first portion of $9M as part of a committed $35M Series C financing. Backers on this tranche include Northwater Capital Management, ConocoPhillips, BP and PVS Chemicals alongside existing investors such as Carl Berg and Zachry Corporation.