ImpactAlpha, May 4 — Breakthrough Energy Ventures collected another $1 billion at the start of this year to invest in up to 50 startups with game-changing climate solutions (see, “Breakthrough Energy Ventures doubles down on cleantech”). The billionaire-backed venture capital firm is backing sustainable cement and concrete startup Solidia Technologies, carbon-capture verification service Pachama, and Fervo Energy, which designs geothermal energy systems.
Solidia says its cement and concrete technology can eliminate more than 1.5 gigatons of CO2. The New Jersey-based company raised $78 million from BEV, Imperative Ventures, Zero Carbon Partners, BP and others.
San Francisco-based Pachama uses satellite imaging and AI to measure carbon captured in forests. BEV led $15 million in financing for what Pachama’s Diego Saez-Gil calls “a tech-enabled platform that can unlock climate-meaningful funding for mass restoration and conservation of nature.” BEV’s Peter Turner will join Pachama’s board of directors.
Fervo’s Tim Latimer said the company’s geothermal energy systems “can make 100% carbon-free energy a reality around the world.” BEV backed the Houston-based company’s $28 million Series B investment round.