AtmosZero Closes $21 Million in Series A - AtmosZero
Summary
AtmosZeros proprietary Boiler 2.0 technology extracts heat from the air and delivers high-temperature steam with maximum efficiency and zero carbon emissions, allowing companies to replace their existing natural gas and oil boilers quickly and cost-effectively.AtmosZero is solving for industrial decarbonization by electrifying the boiler room and building a scalable, drop-in replacement product rather than complex and expensive customized projects, said Addison Stark, CEO of AtmosZero. The investment today from leading US and European investors is a tremendous validation of our technology and approach to eliminating Scope 1 boiler emissions.The path to net-zero emissions runs through the boiler room and requires the replacement of existing fossil-based systems, said Michael Kearney, General Partner at Engine Ventures. AtmosZero will use this investment to advance both efforts including executing the commercial pilot and expanding the companys European reach.Industrial process heat in the form of steam is essential for industries spanning food and beverage through to district heating and is responsible for over 2 gigatons of carbon dioxide per year, said Christian Hernandez Gallardo, Partner and Co-Founder of 2150. We were hunting for a solution that could unlock the vast impact potential in this market, with an offering that was a financial no-brainer to customers. The technology Addison and his all-star team have developed does exactly that and we look forward to supporting AtmosZero as they roll out their technology to the customers that eagerly await them in Europe.In addition to the Series A investment, AtmosZero was recently awarded a $3.2 million grant from the U.S. Department of Energys Industrial Efficiency and Decarbonization Office (IEDO) aimed at helping rapidly decarbonize Americas industrial sector.