Participated · Series A · Feb 2024

Sage Geosystems is a Houston-based pressure geothermal company that extracts energy from hot dry rock by harnessing both the earth’s heat and natural pressure. Its proprietary system supports three main applications: grid-scale energy storage, 24/7 power generation, and direct heating, which together broaden geothermal’s viable geography beyond traditional hydrothermal regions. The firm is currently building its first commercial pressure-geothermal power facility within an existing Ormat power plant, showcasing a pathway to low-cost, baseload renewable electricity. In 2024 Sage signed an agreement with Meta to supply up to 150 MW of geothermal baseload power for data-center expansion east of the Rocky Mountains. Proceeds from the latest financing will fund continued technology development, construction of the inaugural commercial plant, and expansion of its energy-storage offering. Following its Series B, the company has raised more than $97 million to date, backed by a mix of strategic energy players and climate-focused investors. Although Sage has not disclosed revenue or user metrics, the size of this round underscores investor confidence in its ability to scale geothermal as a global clean-energy resource.

Participated · Seed · Nov 2022

Carbon Reform is a climate-tech startup founded in 2020 and based in Philadelphia and Delaware that develops indoor air-quality and energy-efficiency solutions for commercial buildings. Its flagship product, the Carbon Capsule®, is a retrofit carbon-reduction system for commercial HVAC that removes CO₂ and other contaminants so clean air can be recirculated. By reducing the need for energy-intensive outside air intake, the Carbon Capsule reportedly lowers building-wide energy costs by up to 20% while improving occupant air quality and reducing emissions. The company also offers indoor air-quality sensors and the Carbon Canister® in-room purification unit and is engaging customers for orders and pre-orders. Several successful pilot deployments are underway, and Carbon Reform plans to bring the Carbon Capsule to the commercial market in Q1 2025. Carbon Reform has raised $5 million in total capital and says the Cisco Foundation investment will accelerate its path to market. Carbon Reform develops a modular retrofit device called the Carbon Capsule that diverts and purifies return air from commercial buildings, removing CO2, volatile organic compounds, particulates, and pathogens. The Carbon Capsule integrates within existing HVAC systems to allow treated air to be safely recirculated to occupants. The company was co-founded by Jo Norris and Nick Martin. Carbon Reform raised $3M in Seed funding and plans to use the proceeds to grow the team and expand facilities. It intends to install its first full-scale pilot units in commercial buildings.