Found Energy Closes $12M Seed Round to Decarbonize Heavy Industry with Aluminum-Powered Energy Systems
Summary
The round included investments from KOMPAS VC, Munich Re Ventures, Good Growth Capital, the Autodesk Foundation, J-Impact, GiTV, Massachusetts Clean Energy Center (MassCEC), and Glenfield Partners LTD.Found Energy is addressing the climate crisis by providing an economical, safe, and ethical alternative to fossil fuels. With the capital raised, the company plans to deliver pilot systems to early adopters within the year and further scale their technology for industrial production. Its a huge vote of confidence to be backed by this veteran group of forward-thinking investors who believe in our mission.Industrial decarbonization is crucial for mitigating climate change by reducing greenhouse gas emissions from manufacturing processes. Found Energy plays a key role in this effort by leveraging the unique properties of aluminum and enabling the development of low-carbon products and processes across multiple industries. We are excited to back Peter Godart and Gadi Ruschin in this important undertaking, says Talia Rafaeli, Partner at KOMPAS VC.Were excited to back Found Energys ambitious vision for decarbonization, shares Peter Ortez, Principal at Munich Re Ventures.