Energy Capital Ventures
400 N Aberdeen St, Suite 900, Chicago, IL, 60642, United States
Overview
The only early stage venture capital fund focused on the ESG imperatives and digital transformation of the natural gas industry. In addition to the unique focus that advocates for innovation in green molecules (tm), the firm further differentiates with its customized engagement and deep integration with its strategic limited partners, all of whom are publicly traded utilities. This model enables the firm to be a platform of innovation bridging the technology of the start-up ecosystem with the scale of the natural gas industry.
- Total investments
- 10
- Lead investments
- 7
- Investments · 12mo
- 2
- Active investors
- 3
Sector focus
- Energy
Investment portfolio
- enaDyne
Led · Seed · Sep 2025
Founded in 2021 in Leipzig, enaDyne combines expertise in plasma physics, catalysis, engineering, and materials science to create containerised non-thermal plasma reactors for on-site chemical synthesis. The technology integrates proprietary electrodes with plasma-active catalysts to transform CO₂ and other process gases into products such as syngas, methanol, and ethylene, while also tackling persistent pollutants like CF₄ and PFAS. Current lab results show CO₂ conversion rates above 70 % with competitive selectivities, and the equipment can be switched on and off like a light switch, enabling deployment wherever renewable electricity is available. The company’s modular architecture supports rapid scaling across industrial sites, aiming to decarbonise conventional chemical production and valorise waste CO₂. With its €7 million seed financing, enaDyne plans to build and deploy a 20-foot modular pilot plant at an industrial customer by mid-2026 and develop its first commercial plasma-based PFAS abatement product. Longer term, management targets the rollout of tens of thousands of containerised units by 2050, positioning the firm as a global platform for non-thermal plasma chemical synthesis.
- Sapphire Technologies
Participated · Series C · Sep 2025
Sapphire Technologies develops and manufactures modular power generation equipment for pressure-energy projects, including its FreeSpin® In-line Turboexpanders. Led by CEO Freddie Sarhan, the company aims to drive global decarbonization by adding clean generation capacity to grids. FreeSpin units have been deployed since 2021 in assets such as high-pressure wells and natural gas pipelines and are scalable from kilowatt- to megawatt-class installations. Sapphire says its turboexpander systems help infrastructure owners maximize efficiencies, improve productivity, reduce carbon emissions, offset electrical costs, and generate cash flow. The company will use the new capital to increase capacity at its new Cypress, California manufacturing facility, grow the installed base in key geographies such as Japan, and expand into new applications. Investors in the round include Mitsubishi Heavy Industries and existing backers Equinor Ventures, Cooper and Company, and Energy Capital Ventures. Sapphire Technologies designs and manufactures energy recovery systems for hydrogen and natural gas applications, centered on its FreeSpin® In-line Turboexpander. The FreeSpin® system captures energy from gas expansion and converts it into reliable electricity without interrupting operations. Each FreeSpin® system generates about 2.6 GWh of clean energy annually and reduces atmospheric CO2e emissions by roughly 2,000 tons. The company has secured and begun development on installations in Japan and across the U.S. since launching in 2021. Led by CEO Freddie Sarhan, Sapphire positions itself as a contributor to global decarbonization. The company experienced 220% employee growth over the past year and plans continued expansion. It intends to use new funding to accelerate development of its clean energy solution. Sapphire Technologies develops, manufactures and sells energy recovery systems for industrial and commercial natural gas and hydrogen applications. Its FreeSpin In-line Turboexpanders (FIT) convert waste pressure energy from pressure reduction processes into clean electric power without interrupting operations, offsetting carbon emissions. The company is led by CEO Freddie Sarhan and is a spin-off from Calnetix Technologies, based in Cerritos, California. Sapphire recently closed a Series A funding round of undisclosed size. The company intends to use the funds to scale up manufacturing and distribution of its energy recovery systems for pressure let-down applications. The article does not disclose revenue, user metrics, or prior financing amounts.
- Capture6
Participated · Series A · Mar 2025
Capture6 develops integrated carbon dioxide removal and brine-to-freshwater recovery technology that captures atmospheric CO2 emissions, converts brine waste into usable freshwater, and produces green chemicals. Its Monarch project, currently in demonstration in Palmdale, California in partnership with the Palmdale Water District, is designed to process brine from a 0.68 MGD purification plant. Once scaled in Phase 2, Monarch is expected to remove about 25,000 tons of CO2 per year and recover roughly 400,000 m³ of freshwater annually, while lowering regional brine disposal costs by up to 40%. The company has secured project-level, non-recourse financing to advance Phase 2 and previously raised $27.5 million in earlier funding. Beyond Monarch, Capture6 is pursuing a global pipeline of projects including sites in Western Australia, South Korea, the U.S. Midwest, and the United Arab Emirates. The company positions its offerings to address both climate targets and regional water stress through commercial deployments.
- CarbonQuest
Participated · Equity · Feb 2025
CarbonQuest develops a modular, solid-sorbent Distributed Carbon Capture™ system that captures CO2 from buildings and onsite power generation, liquifies it, and transports it to local users. The company has proven its modular, stackable process in six commercial deployments. CarbonQuest plans to scale deployments across North America and address markets that rely on onsite power or reuse CO2 onsite. It aims to achieve the lowest $/ton in the carbon capture industry and to improve system efficiency. The company will use new funding to hire industry talent, expand its project pipeline, and accelerate commercialization. CarbonQuest has pursued partnerships to accelerate deployment, including a December 2024 MoU with Carbfix to identify sites for capture and mineralization.
- C-Zero
Led · Series A · Sep 2024
C-Zero builds methane pyrolysis reactors that heat natural gas in the presence of a proprietary catalyst to break hydrogen’s bond with methane, producing hydrogen and solid carbon. The company positions that hydrogen for today’s industries such as ammonia and petrochemical production and for potential future uses including transportation and steel. The solid carbon byproduct could be reused in applications ranging from asphalt to lithium-ion batteries. C-Zero says its process uses just a few kilowatt-hours of electricity per kilogram of hydrogen, which it argues enables lower-cost, low-carbon hydrogen compared with electrolyzer-based green hydrogen. By using readily available natural gas and existing infrastructure, the company aims to make low-carbon hydrogen anywhere customers have natural gas or LNG. C-Zero previously raised a $34 million round in 2022 that PitchBook valued at $124 million post-money. CEO Zach Jones says the current raise should extend runway toward a Series B next year and help the company reach cash-flow positivity. C-Zero has developed a proprietary process for transforming natural gas into clean hydrogen and a solid carbon co-product using methane pyrolysis. The company closed a $34 million financing round to build its first pilot plant, expected online in Q1 2023. The pilot is planned to produce up to 400 kg of hydrogen per day from natural gas with no CO2 emissions. The round was led by SK Gas and included new investors Engie New Ventures and Trafigura, alongside participation from existing investors Breakthrough Energy Ventures, Eni Next, Mitsubishi Heavy Industries, and AP Ventures. C-Zero positions the technology as a pathway to decarbonize natural gas and as a producer of “turquoise” hydrogen. The financing will support piloting and demonstration work to scale the technology. C-Zero is commercializing a proprietary thermocatalysis process that transforms natural gas into hydrogen and a solid carbon co-product. The technology, developed at the University of California, Santa Barbara, uses methane pyrolysis to split methane into hydrogen and solid carbon. The hydrogen can be used to decarbonize applications such as electrical generation, process heating and the production of commodity chemicals like ammonia. When renewable natural gas is used as the feedstock, the process can be carbon negative by extracting CO2 from the atmosphere and storing it as solid carbon. C-Zero plans to accelerate its first commercial-scale deployment of this drop-in decarbonization technology and is hiring in the Santa Barbara region. The company raised $11.5M in Series A financing to support these efforts.