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Venture Capital
energyinnovationcapital.com

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Investments

41

Portfolio Exits

3

Funds

3

Partners & Customers

1

About Energy Innovation Capital

Energy Innovation Capital is a venture capital firm that invests in companies developing the next generation of technology to ensure abundant, clean, and accessible energy.

Energy Innovation Capital Headquarters Location

San Francisco, California, 94114,

United States

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Latest Energy Innovation Capital News

Aurora Hydrogen raises $10M Series A; microwave pyrolysis of natural gas for efficient low-carbon hydrogen production

Aug 3, 2022

Aurora Hydrogen raises $10M Series A; microwave pyrolysis of natural gas for efficient low-carbon hydrogen production Canada-based Aurora Hydrogen, a company developing emission-free hydrogen production technology, has raised $10 million in Series A funding led by Energy Innovation Capital. Participating investors include Williams, Shell Ventures, Chevron Technology Ventures and the George Kaiser Family Foundation. This funding adds to additional funding by the Natural Sciences and Engineering Research Council of Canada (NSERC) that the team received earlier this year. As the world looks to quickly decarbonize transportation and industry, hydrogen demand is expected to increase rapidly, from $130 billion today to $2.5 T in 2025, according to the Hydrogen Council. There is an accompanying need to develop new low-cost and low-carbon technologies for hydrogen production. Aurora Hydrogen is scaling its proprietary and highly efficient microwave pyrolysis technology to produce hydrogen and solid carbon from natural gas without generating CO2 emissions or consuming water. Aurora’s technology is highly scalable, with units that can supply a broad range of applications from distributed fueling to hydrogen injection and industrial processes. Aurora uses 80% less electricity than electrolysis, the conventional method of producing clean hydrogen, requiring far less electrical generation capacity per kg of hydrogen. And, unlike electrolysis, the process does not require water as a feedstock, preserving another critical and scarce resource. At Aurora, we are producing low-cost hydrogen at the point of use, at the exact scale required, and without generating any CO2. We use existing energy pipelines and distribution systems to move the energy, then produce hydrogen where it’s needed, eliminating the need for any new costly hydrogen transportation infrastructure. —Andrew Gillis, CEO, Aurora Hydrogen The recent funding will be used to build and operate a 200 kg-H2/day demonstration plant for field trials in Edmonton, Canada.

Energy Innovation Capital Investments

41 Investments

Energy Innovation Capital has made 41 investments. Their latest investment was in Aurora Hydrogen as part of their Series A on August 8, 2022.

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Energy Innovation Capital Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/1/2022

Series A

Aurora Hydrogen

$10M

Yes

5

5/17/2022

Series D

Infinitum Electric

$80M

No

5

11/16/2021

Series B

Titan AES

$33M

No

4

10/27/2021

Series B - II

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$99M

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10

8/25/2021

Series A

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10

Date

8/1/2022

5/17/2022

11/16/2021

10/27/2021

8/25/2021

Round

Series A

Series D

Series B

Series B - II

Series A

Company

Aurora Hydrogen

Infinitum Electric

Titan AES

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Amount

$10M

$80M

$33M

$99M

New?

Yes

No

No

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Co-Investors

Sources

5

5

4

10

10

Energy Innovation Capital Portfolio Exits

3 Portfolio Exits

Energy Innovation Capital has 3 portfolio exits. Their latest portfolio exit was Tado on January 18, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

1/18/2022

Acq - Pending

$99M

1

12/1/2021

Acq - Pending

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$99M

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10

8/23/2021

Acquired

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$99M

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10

Date

1/18/2022

12/1/2021

8/23/2021

Exit

Acq - Pending

Acq - Pending

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

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Sources

1

10

10

Energy Innovation Capital Fund History

3 Fund Histories

Energy Innovation Capital has 3 funds, including Energy Innovation Capital II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/20/2020

Energy Innovation Capital II

$32.5M

1

1/22/2018

EIC Parallel Fund

$99M

10

1/22/2018

Energy Innovation Capital I

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$99M

10

Closing Date

11/20/2020

1/22/2018

1/22/2018

Fund

Energy Innovation Capital II

EIC Parallel Fund

Energy Innovation Capital I

Fund Type

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Status

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Amount

$32.5M

$99M

$99M

Sources

1

10

10

Energy Innovation Capital Partners & Customers

1 Partners and customers

Energy Innovation Capital has 1 strategic partners and customers. Energy Innovation Capital recently partnered with Fluence Analytics on January 1, 2017.

Date

Type

Business Partner

Country

News Snippet

Sources

1/1/2017

Partner

United States

Date

1/1/2017

Type

Partner

Business Partner

Country

United States

News Snippet

Sources

Energy Innovation Capital Team

7 Team Members

Energy Innovation Capital has 7 team members, including current Chief Financial Officer, Managing Director, Chad Gardner.

Name

Work History

Title

Status

Chad Gardner

Chief Financial Officer, Managing Director

Current

Paul Dickerson

WoodRock & Co, Haynes and Boone, U.S. Department of Energy, and U.S. Department of Commerce

Chief Operating Officer, Managing Director

Current

Rajan Gupta

GE Capital, Lehman Brothers, and Booz Allen Hamilton

Senior Managing Director

Current

W. George Coyle

ConocoPhillips, Deepflex, Chevron, and Energy Technology Ventures

Managing Partner

Current

Kevin Skillern

Managing Partner

Current

Name

Chad Gardner

Paul Dickerson

Rajan Gupta

W. George Coyle

Kevin Skillern

Work History

WoodRock & Co, Haynes and Boone, U.S. Department of Energy, and U.S. Department of Commerce

GE Capital, Lehman Brothers, and Booz Allen Hamilton

ConocoPhillips, Deepflex, Chevron, and Energy Technology Ventures

Title

Chief Financial Officer, Managing Director

Chief Operating Officer, Managing Director

Senior Managing Director

Managing Partner

Managing Partner

Status

Current

Current

Current

Current

Current

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