Participated · Equity · Mar 2025

ReSource Chemical develops technology to make plastics and specialty chemicals without fossil fuels by converting renewable feedstocks (e.g., CO2, agricultural waste) into naturally occurring, high-performance molecules. Its flagship product is 2,5-furandicarboxylic acid (FDCA), a key building block for PEF, an alternative to PET. The company says it will use the new funding to build an integrated pilot plant for its FDCA process and to establish commercial production of other specialty chemical products using its technology portfolio. Led by CEO Aanindeeta Banerjee, ReSource emphasizes a platform approach that targets replacing traditional petrochemicals. Financially, the company has raised more than $25 million to date, including $8.9 million in non-dilutive funding from the U.S. Department of Energy and the National Science Foundation.

Participated · Series A · Dec 2023

Albatross Technology is developing a floating-axis vertical-axis offshore wind turbine (FAWT) and associated small floating platforms. The FAWT design targets deployment in strong offshore winds with reduced equipment and O&M costs, positioning it as a potential game-changer for floating wind. The company emphasizes nearly all domestic manufacturing and procurement and a nearly 100% reuse/recycle design to cut lifecycle carbon emissions and boost domestic economic impact. Design work for both the turbine and floater is underway, and the firm plans to install a small machine offshore in fiscal 2024 to begin verification for larger units. Albatross received a NEDO subsidy in 2022 and is conducting turbine-efficiency analysis under a technology R&D project. Albatross Technology develops a Floating Axis Wind Turbine (FAWT), a rotating cylindrical float that supports a vertical-axis wind rotor and uses seawater as a simple bearing to reduce cost and complexity. The FAWT design tolerates up to a 20-degree tilt and targets lower manufacturing and maintenance costs compared with conventional floating turbines. The company emphasizes 100% domestic procurement for turbine components and is exploring carbon-fiber composite continuous-pull manufacturing methods. It conducts joint research with J-Power's Chigasaki Research Institute and Osaka University, and collaborates with the ICC at Kanazawa Institute of Technology. Manufacturing partners for the small demonstrator include Fukui Fibertech (blade/composite production) and Mirai Zosen (float construction). Albatross plans to use the recently raised funds to design and build a sub-20 kW small offshore experimental unit and begin sea trials in fiscal 2024.

Participated · Equity · Nov 2022

Elephantech has developed SustainaCircuits, an additive PCB manufacturing technology that uses nanomaterials, high-precision inkjet printing, and optimized processes to form circuits directly on substrates. The company targets the large general multilayer PCB segment within a roughly ¥10 trillion PCB market and in 2024 developed inkjet printing equipment and advanced materials (copper nanoink and primers) for that segment. Elephantech says SustainaCircuits can reduce CO2 emissions by about 75%, water use by about 95%, and copper usage by about 70% versus conventional subtractive methods. The company has been progressing evaluations and verification toward introducing the technology into PCB manufacturers' mass-production lines. Following the Series F participation and partnership with Mitsubishi Electric, Elephantech plans to strengthen manufacturing and sales capacity for its printing equipment and accelerate global deployment and industry standardization of its technology. The company is headquartered in Chuo-ku, Tokyo.