Electrified Thermal Secures $19 Million in Venture Financing from Leading Global Industrials and Venture Capital Firms to Electrify Industry – Electrified Thermal Solutions
Summary
Accounting for 20% of greenhouse gas emissions 85% of which are derived from fossil fuel combustion these energy-intensive sectors lack cost-effective options for decarbonization today. With our investment, we look forward to scaling up this clean energy solution across our operations to accelerate the shift to sustainable building at scale.Global mining company Vale echoed this sentiment. $100 billion, added Brett Olsher, Co-founder and CIO of GVP Climate.With the mission to lead the energy transition, EDP is already at the forefront of decarbonizing industrial processes by offering electrification solutions to its clients. The investment will help Electrified Thermal lay the foundation for scaling manufacturing and support efforts to expand its industrial customer base and secure contracts. The companys JHTB generates, stores, and delivers unprecedented near-flame temperature heat (up to 1,800\xb0C / 3,275\xb0F), offering the most cost-effective, clean alternative to fossil fuels.With industrial heat processes responsible for over 20% of global greenhouse gas emissions, Electrified Thermal is creating the commercially viable decarbonization pathway for industries such as power, cement, mining, steel and metals, chemicals, and food processing.