Investments
41Portfolio Exits
3Funds
3Partners & Customers
1Latest Energy Innovation Capital News
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.
Energy Innovation Capital Investments Activity
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 | |||||
8/25/2021 | Series A |
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 | ||
Amount | $10M | $80M | $33M | ||
New? | Yes | No | No | ||
Co-Investors | |||||
Sources | 5 | 5 | 4 |
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 | 1 | |||
Date | 1/18/2022 | ||
---|---|---|---|
Exit | Acq - Pending | ||
Companies | |||
Valuation | |||
Acquirer | |||
Sources | 1 |
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 | ||||
1/22/2018 | Energy Innovation Capital I |
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 | |||
Status | |||
Amount | $32.5M | ||
Sources | 1 |
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 | Modumetal, and ConocoPhillips | 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 | GE Ventures, GE Power, Goldman Sachs, and Booz Allen Hamilton | Managing Partner | Current |
Name | Chad Gardner | Paul Dickerson | Rajan Gupta | W. George Coyle | Kevin Skillern |
---|---|---|---|---|---|
Work History | Modumetal, and ConocoPhillips | 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 | GE Ventures, GE Power, Goldman Sachs, and Booz Allen Hamilton |
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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