Spring 2024: Lilac Solutions Closes $145MM Series C Funding Round & More
Portfolio Company Highlights
See the latest highlights from Prime's portfolio companies. To find out more about our entire portfolio, visit investments page.
Carbon Reform, a company that develops modular carbon capture systems for commercial buildings, was featured on American Innos list of "35 Startups You Should Have on Your Radar in 2024". The company's systems help reduce CO2 and contaminant levels internally while saving energy costs.
Charm Industrial, a company that sequesters carbon emissions via bio-oil, was mentioned in a WIRED article about biomass carbon removal and storage.
Daniel White, Co-Founder and CEO of Clean Crop Technologies, a company that improves yields and food safety while reducing food waste through high-voltage plasma technology, was featured on The Modern Acre Podcast. Additionally, Daniel appeared on Hardware to Save a Planet, where he discussed the intersection of technology, agriculture, and sustainability.
Gradient’s climate-friendly hybrid heating and cooling unit, which aims to push the building sector toward zero carbon, was one of the selected heat pumps that the New York City Housing Authority (NYCHA) is piloting as part of its goal to cut emissions drastically, as covered by the Associated Press. Additionally, Gradient’s CEO, Vince Romanin, was interviewed in WIRED's article, “What Would Happen If Every American Got a Heat Pump.”
Heaten, a company whose high-temperature heat pump is accelerating the transition to clean and efficient industrial heating processes, was featured in an article about electric factories in The Economist. Low-carbon cement company Sublime Systems was also featured.
Lilac Solutions, a leader in direct lithium extraction to power electric vehicles, announced the closing of a $145MM Series C funding round. The new capital supports Lilac’s ambitious growth plans by increasing the manufacturing capacity of its proprietary ion-exchange (IX) material and expanding commercial deployment globally.
Sarah Richardson, the CEO of MicroByre, a company that uses synthetic biology to replace petro-feedstocks in biomanufacturing, was featured in Chemical & Engineering News (C&EN) discussing the future of making chemical commodities through biomanufacturing.
Sublime Systems, a low-carbon cement company, was featured in the New York Times as a recipient of $87MM from the Energy Department to build its first commercial plant in Holyoke, MA. The securing of this commercial plant site was highlighted by Fast Company and NPR. Sublime was also awarded $6.7MM by the Department of Energy's Industrial Efficiency and Decarbonization Office to advance its innovative electrolyser technology, covered by CleanTechnica. Additionally, Canary Media highlighted Sublime Systems’ involvement as a founding member of the Decarbonized Cement and Concrete Alliance (DC2).
Several Prime-supported companies have been listed as Time's "America's top greentech companies 2024" including Clean Crop Technologies, Charm Industrial, Verdox, Via Separations, Sublime Systems, Quidnet Energy, and Twelve.