• FirstFuel Software

  Participated · Series C · Apr 2015

  FirstFuel Software provides a business-customer engagement SaaS platform that combines data science, building science, and software to derive intelligence from utility data. The platform analyzes data from over 6 million meters to help energy providers in North America and Europe improve customer satisfaction, drive sales and revenue, and reduce service costs. FirstFuel reports that its AI-based data techniques and embedded widgets/APIs can produce large improvements in online engagement and help utilities boost adoption of programs such as energy efficiency, electrification, and distributed energy resources. Its client roster includes five of the ten largest U.S. utilities and covers more than one in every five business customer meters, and 2018 additions included AEP, Seattle City Light, and Orange & Rockland. The company says clients have seen tangible net savings and stronger digital adoption by applying its analytics, citing Accenture-and-FirstFuel analysis on SMB programs. FirstFuel is privately held, was founded in 2010, and is headquartered in Lexington, Massachusetts. FirstFuel operates a SaaS customer intelligence platform (FirstEngage and FirstAdvisor) that applies analytics to meter and business data to deliver individualized energy insights to commercial customers. The platform performs detailed performance analysis of energy usage in every building, enabling utilities and energy service providers to scale services such as energy efficiency, demand management and on-site generation. Since its commercial launch in late 2012 the company has analyzed data for more than one million building meters; the FirstAdvisor product has analyzed 40 billion kWh and identified over $400 million and 5 TWh in annual savings. The company is targeting growth in both regulated and deregulated utility markets and plans to increase sales and marketing, expand its footprint in Europe, and invest further in its SaaS platform capabilities. FirstFuel was founded in 2010 and is headquartered in Lexington, Massachusetts; the company has established deployments with large utilities, energy service providers, and government customers across North America and Europe. FirstFuel Software offers a Remote Building Analytics (RBA) platform that leverages advanced meter data analytics to identify, enable, and track energy efficiency savings in commercial buildings without onsite visits or device installations. The platform supports portfolio efficiency screening, customer engagement, energy audits, and performance monitoring and verification, and has analyzed over 700 million square feet of commercial building space through November 2013. FirstFuel says its solutions deliver efficiency services at 5–10x lower costs and faster speeds and are deployed across thousands of buildings for utilities and government customers, including expanded deployments with the U.S. General Services Administration and the Washington D.C. Department of General Services. The company serves several of the largest North American utilities and is positioned for rapid expansion in North America and globally. The new funding will be used to accelerate development of the RBA platform and support continued growth. FirstFuel Software develops the Rapid Building Assessment (RBA) platform, an advanced analytics service that remotely benchmarks and profiles commercial building energy performance. The RBA delivers zero-touch, remotely conducted energy assessments that remove the need for costly on-site audits and identify operational efficiency and retrofit opportunities across portfolios. FirstFuel engages utilities, government agencies and ESCOs and has run engagements with several leading U.S. utilities and government clients. The company plans to expand RBA capabilities, accelerate product development, and pursue rapid expansion in the utility and government markets. FirstFuel has received independent validation from the Fraunhofer Center (DOE-funded report) and was selected by the DoD’s ESTCP to demonstrate its technology on military installations. Founded in 2010 and headquartered in Lexington, MA, the privately held company recently closed a financing to support these efforts. FirstFuel Software offers the Rapid Building Assessment (RBA) platform, which uses patent-pending analytics to disaggregate whole-building energy consumption into end uses and deliver zero-touch profiles and recommendations. The platform combines utility electric interval and gas meter data with high-frequency weather data and GIS-mapped building characteristics to benchmark, recommend operational and retrofit measures, and monitor savings. Third-party validation from the Cadmus Group and an independent Fraunhofer examination found RBA’s results consistent with on-site audits and sub-meter data, achieved at a fraction of the time and cost. FirstFuel positions its product as a scalable alternative to costly on-site energy audits, enabling utilities to engage commercial customers across large portfolios. The company says it will use the new financing to scale and accelerate adoption of the RBA platform. FirstFuel is privately held and targets utilities and commercial building portfolios as primary customers.

• GlassPoint Solar

  Participated · Equity · Sep 2014

  GlassPoint builds, owns, and operates enclosed-trough solar facilities that generate high-temperature steam for industrial customers, claiming to supply 60% of the world’s installed solar industrial steam capacity. Its core Enclosed Trough collectors convert nearly 70% of incoming sunlight into heat, while the Unify Storage System stores that heat for night-time use, giving customers round-the-clock thermal energy. Flagship deployments include a 1.5 GWth project with Ma'aden to decarbonize a Saudi bauxite refinery, a 750 MWth system that will help Searles Valley Minerals retire California coal plants, and a 330 MWth plant that has delivered daily steam in Oman since 2017. The company is now targeting new megaprojects across the U.S. Southwest, Southern Europe, the Middle East, and South America. Proceeds from its latest funding will also expand its Stuttgart Technology Center and grow business development, engineering, and finance teams in Dubai and the United States. GlassPoint positions its solution as a cheaper alternative to burning fossil fuels or electrification for process heat, aiming to lower both emissions and operating costs for heavy industry.

• Rive Technology

  Participated · Equity · Aug 2013

  Rive Technology develops materials-based solutions for catalytic and separations processes in the petroleum refining, chemicals, water and biofuels industries using its Molecular Highway™ zeolite technology. Its proprietary Molecular Highway platform makes zeolites more accessible to hydrocarbon molecules, increasing yields of high-quality transportation fuels and petrochemical feedstocks and enabling refiners to process heavier feeds and increase throughput. Rive has commercially proven the technology and is commercializing it for fluid catalytic cracking (FCC) and hydrocracking, including a joint FCC catalyst development with W.R. Grace. The company will use the $20 million Series D to support continued commercial deployment globally and to expand technical service, sales and R&D staff. It also plans to develop additional applications of Molecular Highway technology and expand its existing base of commercial licensees. The financing, led by Saudi Aramco Energy Ventures with participation from Mitsui and existing investors including The Blackstone Group, Charles River Ventures, Advanced Technology Ventures and Nth Power, brings total investment to date to $67 million; Rive is based in Princeton, N.J. Rive Technology commercializes a proprietary catalyst technology for petroleum refining designed to increase transportation fuel yields and reduce coke. The technology, invented at MIT and led by CEO Larry Evans, improves access of zeolite refining catalysts to hydrocarbon molecules. Rive says the approach is also applicable to chemical production and biofuels. The company intends to use new financing to support commercial refinery trials and deploy the technology into the global refining industry. Rive operates an R&D facility in Monmouth Junction, NJ, and in August 2010 entered a joint development and commercialization agreement with W.R. Grace & Co. Financially, the company has raised capital from clean energy investment firms, totaling $47M to date. Rive Technology is a Cambridge, Mass. company that works on improving the catalytic cracking process used to convert oil into gasoline. Its core focus is on technologies and process improvements for gasoline production. The company raised $8.37 million in a first round of capital, according to VentureWire. Funding came from Charles River Ventures, Advanced Technology Ventures and undisclosed seed investors. The article frames Rive as part of ongoing VC interest in companies that aim to improve gasoline production despite concerns about global warming. It also notes that other prominent venture firms, such as Kleiner Perkins, have backed oil and gasoline companies.

• Propel Fuels

  Participated · Series D · Dec 2012

  Propel Fuels operates a network of stations providing renewable fuels (Flex Fuel E85, biodiesel blends) alongside conventional gasoline. Led by CEO Matt Horton and based in Redwood City, California, the company runs stations throughout California and Washington State. Its retail network includes traditional Clean Fuel Points co-located with conventional stations and new Clean Mobility Centers. Propel plans to expand aggressively, with more than 200 stations planned for new and existing markets over the next two years. The company raised financing to fund this buildout and recently added a new board member tied to the financing. Propel Fuels operates modular alternative-fuel fueling sites, typically co-located on existing gas station properties to lower costs. Its stations sell ethanol (E85) and biodiesel fuels to Flex Fuel and diesel vehicle owners. The company owns and operates eleven alternative fueling stations in Seattle and Sacramento. Propel raised new capital to expand its station network in California. The expansion funding reflects a mix of equity and debt financing. The company plans to use the proceeds to increase availability of ethanol and biodiesel across its target market in California.

• SynapSense

  Participated · Series C · Jul 2011

  SynapSense develops wireless instrumentation and a combined hardware and software data-center optimization platform that reduces energy use and carbon footprint for large operators. Its customers include data centers operated by companies in technology, finance, healthcare and defense. The company’s product set is a hardware and software stack designed to optimize infrastructure efficiency. SynapSense will use new capital to boost international operations and to enhance its data center optimization platform. Financially, the company has just completed a $16 million Series C financing to support expansion and product development. SynapSense was founded in March 2006 by Peter Van Deventer and Dr. Raju Pandey.

No current team members are available.