The Venture Codex Logo

The Venture Codex

Fortistar

One North Lexington Avenue, White Plains, NY, 10601, United States

Overview

Headquartered in White Plains, New York, Fortistar is an opportunity-oriented, private investment and energy asset management firm that is distinguished by its experienced people with a deep understanding of energy operations, financing and development. Fortistar owns and operates lower carbon energy generating companies in The United States and Canada that support the transition to a low carbon economy. These companies include cogeneration facilities; compressed natural gas fueling stations; landfill power plants; projects that reduce carbon in industrial facilities, and biomass facilities.

Total investments
9
Lead investments
0
Investments · 12mo
1
Active investors
1

Sector focus

  • Energy
Visit website

Investment portfolio

  • Nanoramic

    Participated · Equity · Nov 2025

    Nanoramic, led by CEO and co-founder John Cooley, builds energy storage and advanced material solutions for battery applications. Its core technology, Neocarbonix, is designed to boost energy density and cell longevity while lowering costs and enhancing sustainability across lithium-ion and other battery chemistries. The company collaborates with strategic partners such as Samsung SDI and General Motors to commercialize its materials platform. Recent capital will help scale manufacturing capacity and accelerate product development for automotive and other high-demand sectors. By positioning Neocarbonix as a drop-in solution for multiple battery formats, Nanoramic aims to capture OEM and supplier demand for higher-performance, lower-cost cells. Although revenue and user metrics were not disclosed, the firm’s backing from prominent strategic and financial investors signals commercial traction. The latest financing strengthens its balance sheet and supports broader operational expansion.

  • Rise Robotics

    Participated · Equity · Apr 2025

    RISE Robotics develops Beltdraulic™ technology: a fluid-free, zero-emissions, autonomy-ready linear actuator that aims to deliver hydraulic-like power with lower maintenance. The company says Beltdraulic is three times faster and three times more efficient than traditional hydraulics, improving operational efficiency and resilience for defense logistics. RISE plans to refine and field its Beltdraulic SuperJammer vehicle platform for testing and demonstration in operational environments. The firm highlights collaborative work with Air Force stakeholders to address modernization of a 60+ year old lift truck platform. RISE is backed by MIT’s The Engine, Techstars, and Fortistar Capital, and runs a Reg CF campaign on Wefunder that allows both accredited and non-accredited investors to participate. The company recently earned a Guinness World Record for the “World’s Strongest Robotic Arm Prototype.” RISE Robotics is an electrification and automation company based in Somerville, MA that develops electric linear actuation solutions. Its designers build Beltdraulic systems intended to compete with hydraulic cylinders in medium- and heavy-duty machines. The Beltdraulic product line targets fuel and emissions reductions while improving productivity and extending machine life. The company is led by CEO Hiten Sonpal and COO Tom Phelps; founders include MIT mechanical engineers Blake Sessions, Aaron Acosta, and Toomas Sepp, and RISD’s Kyle Dell’Aquila. RISE raised $1.5M in funding and intends to use the proceeds to expand operations and its development efforts. The team emphasizes high-efficiency, fuel-saving actuation solutions as alternatives to traditional hydraulics. RISE Robotics develops zero-emission heavy machinery built around its patented RISECylinder, a fluid-free electromechanical alternative to hydraulic cylinders (US Patent 11255416; WO2019/014259 pending). The RISECylinder delivers hydraulic-like forces with up to 90% less energy, improving efficiency, precision, speed, and weight for medium and heavy-duty applications. The company says its machines reduce fuel, emissions, and sound while improving productivity and extending machine life. RISE targets support vehicles and handling equipment and has been selected to modernize Air Force ground support gear. Founded in 2011 by MIT and RISD graduates, the company is based in Somerville, Massachusetts. It is backed by The Engine, Greentown Labs, and Techstars. RISE recently received a $1.7 million TACFI award to modernize the MHU-083 Jammer, underscoring a market opportunity the company estimates at more than 2,000 units in service. RISE Robotics develops high-performance, cost-effective electric linear actuation solutions designed to replace hydraulic cylinders in medium- and heavy-duty machinery. Its core product, the RISE Cylinder, targets fuel and emissions reductions while improving productivity and extending machine life. The technology enables a shift from diesel-powered hydraulic systems to electric motor-to-movement solutions across industries such as construction, agriculture, waste management, and material handling. RISE has two commercial agreements—one with a major manufacturer of lifting machinery and another with the U.S. Air Force—and is working with a leading forklift manufacturer to increase performance of existing electric forklifts and enable electrification of larger diesel-fueled machines. The company was part of the Techstars accelerator and has received angel funding from Boston investors and advisors including John P. Strauss, William J. Warner, and Walter A. Winshall. Recent additional capital will support continued product deployment and electrification partnerships.

  • Vestaron

    Participated · Series C · Aug 2022

    Vestaron is a Kalamazoo, Michigan–based global leader developing novel peptide-based crop protection solutions. Its core products are peptide-based bioinsecticides in the SPEAR® portfolio, including BASIN, a second active ingredient recently approved in the U.S. and Mexico. The company has commercial traction, having surpassed 1 million acres of product sprayed and entering Europe via emergency use authorizations to control Tuta absoluta (tomato leafminer). Vestaron recently closed a funding round of more than $20M to expand commercial presence in key U.S. and European markets and to advance development of additional peptide-based products. It signed ADM as a contract manufacturing organization to increase production capacity and reduce costs, supporting near-term commercialization and scale-up. Vestaron plans to secure full regulatory approvals and begin sales of BASIN by year-end, further strengthening its SPEAR® bioinsecticide product portfolio and pursuing additional global market opportunities. Vestaron develops peptide-based biological insecticides under its SPEAR® brand, offering a novel mode of action comparable in efficacy to synthetic options. Its products are designed to be soft on honeybees and other pollinators as well as safe for fish and mammals. The SPEAR family provides an opportunity to incorporate the new IRAC Group 32 into resistance-management rotations. Led by CEO Anna Rath and headquartered in Research Triangle Park, North Carolina, the company is focused on expanding its product pipeline of additional peptide-empowered solutions. Vestaron plans to expand from specialty fruit, vegetable and nut crops into broad acre row crops and into new insect pest categories. The company recently raised additional capital to support these development and expansion plans, bringing its total funding to date to $92M. Vestaron is a Durham, NC-based company that develops peptide-based biological crop protection solutions. Led by CEO Anna Rath, the company has developed biological insecticide technology that enables a wide variety of biologic crop protection products. The firm markets product lines based on that technology. It closed an $82M Series C in January 2022. Vestaron said it will use the funds to expand operations and its business reach. As a result of the financing the board will add Ariel Barack (Ordway), Mike Wilbur (Cavallo) and Craig Herron (iSelect) as board observers. Vestaron develops peptide-based biopesticides using a proprietary platform to optimize and produce peptides that aim to match the efficacy of traditional synthetics while improving safety and environmental profile. Led by CEO Anna Rath, the company has launched its first two products: Spear-T for greenhouse pests (thrips, whiteflies, aphids and mites) and Spear-Lep for field lepidopteran pests. Vestaron raised $40M in a Series B financing to support commercialization of the Spear family, expand into new geographies and accelerate development of additional peptide-based biopesticides. The company plans to use the funds to advance its pipeline and broaden market presence. No operating metrics were disclosed in the article. Vestaron exploits natural insecticidal peptides that have potent insect-killing potential while being safe to humans, birds, fish and the environment. The company is leveraging its peptide technology to develop bioinsecticides, plant-incorporated traits and synthetic molecules derived from those peptides with a favorable safety spectrum. Led by CEO John Sorenson, Ph.D., Vestaron plans to expand research and development using proceeds from its latest financing. The firm aims to introduce its first product, the SPEAR™-T biological insecticide, before the 1st quarter selling season next year and two additional products using the same active ingredient later in 2017. It completed an $18m Series D financing to fund these activities.

  • Titan Advanced Energy Solutions

    Participated · Series B · Nov 2021

    Titan Advanced Energy Solutions develops ultrasound-based diagnostics and sensing/management technologies that provide real-time insight into a lithium-ion battery’s state of health, state of charge and safety profile at any stage of its life. Its core product applies proven ultrasound science to deliver battery intelligence for automotive, stationary storage and consumer electronics applications. The company is co-developing solutions with global automakers, multinational energy storage integrators and consumer electronics manufacturers in the United States and Europe. Titan raised $33M in a Series B to support its growth. The firm intends to use the proceeds to accelerate industrial-scale deployments of its battery diagnostics and sensing/management technologies. Titan was founded in 2016 by Shawn Murphy and Sean O'Day. Titan Advanced Energy Solutions develops advanced battery management systems that use patented ultrasound technology to measure and monitor the State of Health (SoH) and State of Charge (SoC) of Li-ion batteries with speed and precision. Its molecular-level, in-situ ultrasound measurements enable increased usable capacity, longer cycle life and early detection of outgassing and other critical failure modes to improve safety. The company plans to use new funding to accelerate product development, launch solutions to repurpose second-life batteries, recruit engineering talent, and expand sales into the automotive and consumer electronics markets. Titan is headquartered in Boston and was founded by Shawn Murphy and Sean O'Day. Murphy previously founded Shell TechWorks and was Head of Science and Technology for Space Systems at Draper Laboratory, while O'Day led the Future Solutions Group at Sonnedix focused on utility-scale energy storage.

  • Skyryse

    Participated · Series B · Oct 2021

    Founded in 2016, Skyryse is an El Segundo, California–based aviation automation company focused on SkyOS, a flight control operating system that replaces dozens of traditional gauges and switches with touchscreen-based automation. The system handles take-off, landing, hover, and engine-out emergencies, while still keeping a pilot in the loop, thereby enhancing safety and reducing pilot workload. Skyryse has already integrated SkyOS into platforms ranging from civilian helicopters to U.S. military Black Hawk helicopters and has inked integration contracts with United Rotorcraft, Air Methods, and Mitsubishi Corporation. The company is nearing the final stages of FAA certification after receiving final design approval for its flight control computers. New funding will accelerate SkyOS deployment across additional aircraft types and support the remaining certification testing. Including the latest round, Skyryse has secured more than $605 million in equity financing and now carries a $1.15 billion valuation.

Team