LineVision, Inc., which enables utilities to improve transmission line capacity, resilience and safety through advanced technology, today announced that it has closed a $2 million Series A round. The lead investor was Clean Energy Ventures. LineVision will use the new capital to scale its operations and supply chain to support the needs of utilities worldwide. Read More
“REsurety, a leading provider of valuation analytics and risk management services to the buyers and sellers of renewable energy, announced today that it has reached a critical corporate and industry milestone, having surpassed more than 5,000 MW of risk management transactions. Transactions closed in 2018 with Microsoft, Enel Green Power North America, Engie, Orsted, Macquarie, and several other large international companies have fueled nearly half that cumulative volume in 2018 alone, signaling broad and accelerating adoption of REsurety’s risk mitigating products and services.” Read More
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.
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.