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The Venture Codex

XPrize

800 Corporate Pointe, Suite 350, Culver City, CA, 90230, United States

Overview

XPRIZE is a non-profit organization that designs and manages public competitions intended to encourage technological development that could benefit mankind. The most high-profile XPRIZE to date was the Ansari X Prize relating to spacecraft development awarded in 2004.

Total investments
1
Lead investments
0
Investments · 12mo
0
Active investors
8

Sector focus

  • Education
  • Innovation Management
  • Non Profit
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Investment portfolio

  • Reverion

    Participated · Seed · Oct 2022

    Reverion designs and builds a reversible, carbon-negative biogas power plant based on hydrogen fuel cells and a novel system architecture and process design. The design reduces system losses, integrates CO2 separation so the unit emits only a liquefiable CO2 stream for transport or sequestration, and can produce renewable natural gas or green hydrogen when run in reverse. Founders Stephan Herrmann and Felix Fischer say the technology can be as much as 80% more efficient than existing biogas plants and produce double the output of conventional gas engines. Primary customers are farmers, who can sell liquified CO2 as a new revenue stream and more easily meet environmental regulations, and industrial plants that can integrate the units with thermal and chemical processes. The company reported a $100 million backlog of orders. A $62 million Series A will let Reverion begin industrial-scale production of its power plants. Reverion is a Munich-based climate tech spin-off of the Technical University of Munich led by CEO Stephan Herrmann and COO Felix Fischer. The company develops container-based 100 kW and 500 kW power plants that run on biogas and can also operate with hydrogen. Its plants produce pure CO2 as a byproduct of power generation, enabling CO2-negative operation, and are reversible to convert excess renewable electricity into hydrogen or methane. Reverion plans to use the recent funding to expand production of its 100 kW and 500 kW plants. The company raised EUR8.5M from investors including UVC Partners, Green Generation Fund, Extantia Capital, Doral Energy‑Tech Ventures and Landwärme GmbH. It has also received EUR12M of research capital to develop the plants. Reverion, born inside the Technical University of Munich and based in Eresing, Germany, has spent seven years developing a system to extract more electricity from biogas using existing fuel-cell technology. The company captures and processes gas that typically exits fuel cells unused, re‑increases its quality in two steps, and recycles it into the cell to raise effective efficiency. Reverion says this approach can raise output from roughly 60% to about 80% — a ~20 percentage-point improvement — by eliminating the up-to-30% of fuel that normally leaves a cell unused. The core product is modular power-plant units housed in 20-foot shipping containers; each unit is sized to power about 100 households. With $7 million in seed funding, Reverion is preparing to pilot 10 of those modular units and pursue a commercial launch. The seed financing was provided by Germany’s Federal Ministry of Economics and Climate Protection, the European Social Fund and XPrize.

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