Inclusive Economy | September 12, 2023

Florrent raises $2.1 million to engage farmers of color in energy storage

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, September 12 – How can farmers help “electrify everything”? By growing more hemp.

Massachusetts-based Florrent is developing ultracapacitors, a form of large-volume energy storage that can retain and release power faster than batteries. Ultracapacitors have the potential to boost the performance of electric vehicles, renewable energy and other clean technologies.

Florrent is looking to procure its supply of hemp, a key input for its design, from farmers of color. “By engaging domestic farmers in the clean energy market, we’re bridging the gap between environmental sustainability and social equity,” said Florrent’s Jose LaSalle.

The company says its hemp-based activated carbon outperforms materials derived from coconut husks.

The company’s $2.1 million equity round was led by MassVentures, with backing from MassMutual Catalyst Fund, Boston Impact Initiative and others.