Portfolio

EXITS

Portfolio Companies

Sold to PepsiCo (PEP) December 2016

Premium, organic, probiotic beverage with annual sales above $50M
Proprietary formulation scientifically proven to support digestive and immune health
At nexus of rapidly growing probiotic, coconut water, and fermented beverage segments in the $20B+ functional beverage category
Available in more than 20 flavors at over 15,000 stores across North America

Sold to Schneider Electric June 2022

Public Electric vehicle (EV) charging infrastructure company
Provides the leading open-source software platform for public charging stations – i.e. commercial, governmental, workplace, and multi-family
Functionality includes access control, demand response participation, and site health, reservations, queueing, and peak load management.
Hardware agnostic, focused on managing tens of thousands of chargers across the US
System enables aggregation of EV charging load and large-scale demand management to balance the power grid, enabling greater EV adoption and renewable energy penetration

Sold to Solar City (SCTY) December 2013

Revolutionary solar mounting technology
Zep systems have 85% fewer parts, are installed 4.5x faster, and reduce the total cost of solar by 10-20%
Licensed to the world’s largest module manufacturers
305% CAGR from 2010-2013

Sold to Ford Motor Company November 2023

AMP developed a platform of hardware and software solution for managing batteries in vehicles and stationary energy storage systems
Electric vehicle sales will account for roughly 32% of total market share for new cars by 2030
AMP solutions meet a growing need for advanced battery controls that are cost effective and improve performance
The company combines software and hardware solutions that leverage the cloud to provide a dynamic, real-time, optimized energy management solution
Customers include leading EV companies around the world

Management buyout December 2019

Leading mid-market (5-50 megawatts) solar project developer
Focused on early stage development in inefficient US state markets
Pioneering direct sale of long-term off-site solar contracts to business and institutional customers (e.g. Home Depot and The National Aquarium)
Over past two years, has rapidly built over 1,000 megawatt project pipeline

Sold to Enel S.p.A. October 2017

Electric vehicle (EV) charging infrastructure company
Sells residential and fleet EV charging hardware and software
Cloud-based software network enables intelligent two-way communication between EVs and the power grid
Mitigates the strain that EVs impose on grid infrastructure and allows utilities to exploit the massive opportunity that EVs represent for additional grid usage, load balancing, and better integration of intermittent power sources, such as renewables
Partnerships in place with major utilities, vehicle manufacturers, and other EV charging hardware companies

Sold to Budderfly July 2024

Software for managing distributed energy resources
Management system gives utilities better visibility and control of residential energy storage and other distributed energy resources (DERs)
Resolves issues created by rapid renewable energy and EV adoption
Functionality includes peak load reduction/shifting, frequency and voltage regulation, outage response
System enables the orchestration of fleets of DERs into dynamic and intelligent virtual power plants (VPPs)
Customers include large utilities across North America and Asia

Sold to Aliaxis November 2022

Pioneer of intelligent stormwater management: essentially, the “smart grid” for water infrastructure
Provides real-time monitoring and automated control of distributed stormwater assets, improving the performance of assets, reducing flood risk, and saving customers money
Integrates cloud-based software, predictive analytics, real-time data, and stormwater asset control hardware
Intelligent stormwater management is a key element of “smart cities” and climate change adaptation
Customers include both large cities and smaller municipalities across the US, as well as large commercial property owners

www.floodbase.com

Floodbase is an AI-driven flood risk analytics and flood parametric insurance solutions platform, helping communities to prepare and respond to climate disasters.
As a result of climate change, extreme flooding has grown 4x more frequent over the last four decades, with losses running into an average of $46B+ per event. Yet, over the past decade, 83% of such losses were uninsured, leading to a massive protection gap and exposing private and public assets to high flood risk.
With its real-time flood observation technology, Floodbase uniquely enables parametric flood insurance that can cover a wide range of economic risks and provide rapid payout, necessary for recovery.
It offers insurance providers a convenient one-stop solution to understand end-consumer flood exposure and launch new insurance products, thereby helping bridge the protection gap and drive broader flood resilience.

poseidonos.com

Poseidon tackles the growing threats of warm water, pests, and algae blooms in near-shore salmon farms, ensuring healthier fish and a sustainable future for aquaculture
Poseidon's Life Support System surpasses outdated solutions by delivering high-oxygen water to fish at significantly lower fuel costs
The company's low-pressure, variable-rate compressors and oxygenation units boast 75% cost savings and double the effectiveness compared to traditional methods
Poseidon's technologies empower salmon farmers worldwide, including industry giants in Canada, Chile, Scotland, and Australasia, to cultivate larger, healthier fish

clarostechnologies.com

Claros Technologies enables low-cost destruction of Per- and Polyfluorinated Substances (PFAS) at industrial and environmental sites
PFAS are synthetic compounds that resist oil, water, and grease – and do not degrade naturally. They are used at industrial sites, coated onto consumer goods, and used in fire-fighting foam
Increased citizen and community concern regarding the toxicity of PFAS has resulted in increased scrutiny by the EPA, state regulation, and class-action lawsuits, with settlements surpassing $10B
Claros has developed a novel, low-cost PFAS destruction technology by harnessing UV light, which operates at ambient temperature and pressure
The company also offers PFAS analytical services backed by its world-class team of scientists and new test methods, capable of detecting a wide array of compounds

iyris.com

iyris offers a platform of technologies to address climate-related challenges faced by growers today, including rising temperatures, water scarcity, and unpredictable weather patterns
The company's innovative "iyris" nanomaterial reduces heat gain in greenhouses, driving significant cost savings, improved crop yields, and higher quality produce
iyris's proprietary breeding program delivers heat, drought, and salinity tolerant tomato rootstocks, equipping growers with hardier crops for a changing climate
Trials using iyris's solutions have demonstrated up to 30% reductions in irrigation costs and yield improvements of greater than 20%

www.revalue.earth

Revalue Nature accelerates development of high-quality, nature-based carbon projects in tropical forests
Natural climate solutions could provide one third of the CO2 mitigation needed by 2030; however, carbon markets have historically been plagued with uneven project quality, leading to a lack of trust and a reputational risk to credit buyers
Revalue nature provides a comprehensive toolkit and support for project operators, ensuring integrity, transparency, and resilience
Superior technology brings precision and integrity to all stages of carbon projects (e.g., site assessment to monitoring), leading to 1) more successful projects, 2) greater trust in the market, and 3) scale
Revalue’s first project, Ruvuma Wilderness, is a partnership with Carbon Tanzania to reduce risk of deforestation in the region; it is set to become one of the largest REDD+1 projects in Eastern Africa.

www.batterysmart.in

Battery Smart is the largest battery swapping network for electric vehicles in India, focusing on commercial 2 and 3-wheel vehicles.
Battery swapping provides the critical infrastructure needed to decarbonize last-mile mobility, especially in densely populated Indian cities.
The company’s battery-as-a-service model enables buying an electric vehicle without a battery, thereby significantly lowering upfront capital costs and promoting wider adoption. Meanwhile, the convenient 2-min battery swap greatly improves driver economics by reducing charging downtime and providing virtually limitless range.
Battery Smart partners with local businesses to set up a dense network of battery swapping stations, allowing the company to remain asset-light and operationally efficient.
In just three years, the company has built a stronghold in Northern India, with presence in 14 cities and over 20k drivers and 500 partner stations on its network.

www.liminalinsights.com

A battery cell inspection and analytics system to enable faster and safer battery manufacturing.
Based on ultrasonic technology, Liminal's solution can speed up production steps, reduce scrap rates, and predict cell performance in a fraction of the typical time.
Road vehicles are responsible for 24% of GHG emissions in the U.S., and electric vehicles are projected to constitute 30% of new vehicle sales by 2030.
There is increasing demand for lithium-ion batteries that power low-emission vehicles, and global manufacturers are investing in new production facilities across North America and Europe.

www.t8notch.com

The Eighth Notch provides a software solution to identify and consolidate packages being shipped to a common destination within a delivery network.
Improving route density results in better utilization of trucks and significantly reduces the greenhouse gas footprint of shipping by sending out fuller vehicles that will make fewer stops per trip
For every delivery stop that is eliminated, 768g of carbon emissions is avoided
T8N reduces costs for high-volume logistics companies like UPS, FedEx, and Amazon – and supports their increasing need for sustainability solutions

www.vibrantplanet.net

Vibrant Planet’s software improves landscape-scale land management planning, execution, and monitoring – for example, improving wildfire risk management or accelerating forest restoration by facilitating decision making in complex, multi-stakeholder situations
In 2022, the U.S. federal government will spend $7.4B on wildfire & forest health; recently announced initiatives target over $30B in proactive fire management to curb the devastating impact of forest fires
Vibrant Planet has early buy-in from the US Forest Service and will soon offer a unique carbon market solution that combines multiple data sources to improve the planning and associated outcomes of prescriptive carbon sequestration practices
The company joins a strong technical team with Silicon Valley tech veterans working alongside experienced fire management scientists

www.ambientphotonics.com

Ambient Photonics has developed a novel dye sensitized solar cell technology to efficiently harvest indoor ambient light
Ambient cells have 3x the power density of amorphous silicon cells, enabling IoT devices (e.g. remote controls, security cameras) to be powered with renewable energy
Electronics’ current dependence on batteries drives frustrating customer experiences and risks potentially critical gaps in commercial settings
Ambient’s technology has a 80% smaller GHG footprint than batteries

www.shoreline.no

Shoreline’s software enables more efficient and effective wind project design, construction, and operations/maintenance
Over the next decade, an additional 235 GW of offshore wind capacity is projected to be added globally, bringing total installed capacity to 270GW by 2030
The global offshore wind power market has grown an average 22% per year from 1 GW installed in 2011 to 6.1 GW in 2021
The company addresses a core need for the wind industry at large – a comprehensive set of simulation and optimization tools that can help lower project costs for the sector. Shoreline counts the majority of large offshore wind developers as customers for its software.

www.ride1up.com

Electric bicycle manufacturer based in California with a portfolio of high quality, value-oriented commuter bikes and which is experiencing rapid growth
E-bike sales grew 240% between 2020 and 2021 – and are projected to grow over 10% per year globally
The transportation sector accounts for 28% of total US carbon emissions
The range and convenience of e-bikes makes them viable car-replacement solutions for many urban and suburban commutes
The company addresses a core need in the e-bike market – a high quality, reliable bike at a price point that makes it attractive to many consumer groups

www.trashie.io

First in the textile industry circular fashion platform that rewards customers for buying sustainably and recycling responsibly using a proprietary digital wallet
The direct-to-consumer flagship brand offers organic, affordable, and 100% recyclable basics clothing
Rapid adoption from young Millennial and Gen Z consumers, and industry-leading retention
Existing fashion brands are struggling to meet growing consumer pressure for sustainability, authenticity, and transparency
The fashion industry is the third highest polluting industry, responsible for 10% of global carbon emissions and 50B garments disposed of each year

www.ampersand.solar

Electric motorcycle company based in Rwanda, focused on serving motorcycle taxi and other commercial drivers
Motorcycle taxis are a primary means of transport in East Africa, where personal vehicle ownership rates are low
Replacing petrol motorcycles with electric ones offers great potential to reduce carbon emissions and improve urban air quality, while increasing driver take-home pay
Ampersand is the first electric motorcycle company in Africa, and has several years of experience on the ground refining technology and business model
Developed an electric motorbike ecosystem, which includes a high-performance motorcycle, a smart battery pack, and a network of battery swapping stations
Ampersand plans to expand to Kenya, Uganda, and other African countries

www.unagiscooters.com

Offers premium electric scooters for sale or through a subscription model both direct to consumer and through retail outlets
The transportation sector accounts for 28% of total US carbon emissions
Consumers are seeking alternative options to make short and medium distance commutes easier and more enjoyable
Electric scooters are a low-cost, low-carbon alternative to car-based ride-sharing services and an important last-mile complement to public transit
The company fills a gap in the scooter market: premium products built with high-quality components that are lighter, more durable, more stylish, and smarter

www.zeroavia.com

ZeroAvia is the leader in zero-emission, hydrogen-electric aviation solutions
The company’s hydrogen fuel cell powertrain replaces jet fuel-powered engines in existing aircrafts
Hydrogen-electric powertrains offer operators a lower total cost of ownership compared to traditional engines
The company is initially focused on small commuter and cargo aircraft
There is growing pressure on the aviation industry to reduce GHG and other emissions

www.energicitycorp.com

Develops and operates solar minigrids in West Africa
Serving off-grid communities averaging 100-200 households and associated businesses
Strong demand for electricity in rural areas of West Africa not served by a central power grid
Electrification is central to economic development, enabling reliable operations of mills, freezers, and medical facilities

www.upflex.com

Software platform that provides easy, economical, and instant workplace flexibility for corporate customers
Offers a global network of thousands of desk, meeting room, and workspace options for users
Significant potential to reduce commuting and associated pollution by facilitating workspace flexibility
Improves utilization of co-working spaces, reduces the time and energy expended on commuting, and improves employee satisfaction
Fast-growing networks of spaces and corporate users

www.bluon.com

Developer of novel refrigerants and accompanying support tools to significantly lower the environmental impact of HVAC equipment
Very large market facing significant disruption by mandated transition to new refrigerants, with insufficient support for technicians
Bluon refrigerant delivers up to 25% reduction in equipment energy consumption and quick payback for asset owners
Service and software support tools help technicians navigate a challenging transition and propagate energy efficiency best practices
Growing partnerships with large real estate owners and Fortune 100 companies

www.flyingembers.com

Premium, certified organic, probiotic beer and alcoholic kombucha beverages
Employs an advanced fermentation process and a formulation to create functional alcoholic beverages including gluten-free beer
Pioneering “better-for-you” alcoholic beverages in the $100B+ beer category
Rolling out in retail outlets across the country

www.pegasussolar.com

Rail-free residential solar mounting hardware company
Proprietary mounting hardware enables faster installation, reduced system cost, and improved aesthetics
Works with most roof types and best-in-class solution for tile roofs; tile is the dominant roof type in the US Southwest and is difficult and expensive to service with existing solar mounting solutions
Rapidly growing customer base of large-to-medium-sized installers across the U.S.

www.sanafoods.com

SANA (formerly The Real Coconut) makes premium, certified organic, grain-free and dairy-free packaged food products
Products feature nutrient dense ingredients that come from low-impact crops, including coconut, plantain, and cassava
SANA’s grain-free products meet growing market demand for sustainable, healthful, plant-based foods
Products are available in over 5,000 stores across the U.S. and Canada

MITO™ is a science-based response to our mitochondrial needs, designed to strengthen the body’s immune shield at the cellular level
The ready to drink beverage includes key mitochondrial nutrients Vitamin C, Zinc, CoQ10 and astaxanthin
A scientifically studied blend of nutraceuticals, high-dose vitamins, and plant-based adaptogens
A team of doctors and scientists formulated MITO behind leading research that establishes functional dosages of key ingredients

www.completesolar.com

Residential solar sales and installation firm focused on using software to improve sales process and eliminate operational inefficiencies
Process automation including system design, permitting, and installation management has produced industry-leading time from contract to installation. Results in lower operating costs and a better customer experience
Top-20 US residential solar company

www.synovatech.com

Innovative waste-to-energy project developer that converts garbage and biomass into clean syngas for use in power generation
Proprietary gas cleaning technology and proven system components enable better environmental performance and dramatically reduced capital costs
Potential to dominate the global market for small/medium-size waste-to-energy projects
Currently developing global pipeline of projects with initial concentration of projects in Southeast Asia

Shipping logistics technology and services company that is revolutionizing the global shipping supply chain
Repositioning empty shipping containers accounts for 20% of all container traffic – $10B-$15B per year in wasted expense
SynchroNet’s proprietary container matching platform increases efficiency and profitability, and significantly reduces carbon emissions