CleanFiber raises $4.9M to advance plans for a local factory

CEVG portfolio company CleanFiber, formerly UltraCell Insulation, has raised $4.9 million to advance plans for building a western New York factory.

CleanFiber manufactures high performance cellulose building insulation, a higher quality product made at lower cost from recycled and residual materials.

See the announcement here.

MTPV Power Corporation

MTPV Power Corporation is an Austin, TX and Medford, MA-based clean energy company that converts heat to electricity using semiconductor chips.

On October 10th, MTPV announced a successful raise of $16 million in Series C financing, led by Lake Bridge Capital with follow-on investments from Total Energy Ventures, SABIC Ventures, and several other existing shareholders.

Read the announcement here.

CEVG portfolio company, Quidnet, one of ten projects to receive new ARPA-E grant.

Quidnet Energy, Inc., a CEVG portfolio company, was one of ten projects selected as part of ARPA-E’s new DAYS (Duration Addition to electricitY Storage) program.

This program will, ” develop energy storage systems that provide power to the electric grid for durations of 10 to approximately 100 hours, opening significant new opportunities to increase grid resilience and performance. The extended discharge times of DAYS projects will enable a new set of grid applications including long-lasting backup power and greater integration of domestic, renewable energy resources.” – ARPA-E.

“The Quidnet Energy team will develop a modified pumped hydro energy storage system using rocks beneath the Earth’s surface. The team will pump pressurized water into gaps in underground rocks. When energy is needed later, the induced strain in the surrounding rock will force water back through a generator to produce electricity.” – ARPA-E

Quidnet Energy was awarded $3,298,786 under the category of Geomechanical Pumped Storage.

Read the ARPA-E announcement here.