AtmosZero, a cleantech startup, has secured $21 million in funding to advance its groundbreaking solution aimed at decarbonizing industrial steam emissions. The investment, led by Engine Ventures and 2150, underscores the growing urgency to address industrial emissions and marks a significant milestone in the fight against climate change.
Addressing Industrial Emissions: Industrial steam production, a vital component in various sectors including food and beverage, chemical manufacturing, and the built environment, constitutes a substantial portion of global industrial energy consumption. Approximately 15% of industrial energy usage is attributed to the generation of industrial steam, primarily through the combustion of fossil fuels.
Boiler 2.0: A Game-Changing Solution: Spun out of a project at Colorado State University in 2021, AtmosZero has developed Boiler 2.0, a revolutionary modular electrified boiler. This innovative technology harnesses heat from the air to produce high-temperature steam with maximum efficiency and zero carbon emissions. Boiler 2.0 offers a drop-in solution, enabling companies to swiftly and cost-effectively replace their existing natural gas and oil boilers.
Strategic Partnerships and Expansion: AtmosZero’s strategic partnership with New Belgium Brewing Company and the launch of AtmosZero Europe, B.V., based in Amsterdam, underscore the company’s commitment to driving sustainable solutions globally. The investment will support the execution of commercial pilots and the expansion of AtmosZero’s presence in Europe.
Vision for a Sustainable Future: Addison Stark, CEO and Co-Founder of AtmosZero, articulated the company’s vision to eliminate global emissions from fossil-fueled boilers. The significant investment from prominent US and European investors validates AtmosZero’s innovative technology and its mission to address Scope 1 boiler emissions.
Investor Perspectives: Michael Kearney, General Partner at Engine Ventures, emphasized the importance of transitioning away from fossil-based systems to achieve net-zero emissions. Christian Hernandez Gallardo, Partner and Co-Founder of 2150, highlighted the vast impact potential of AtmosZero’s solution and its financial viability for customers.
Government Support and Recognition: In addition to the Series A investment, AtmosZero received a $3.2 million grant from the U.S. Department of Energy’s Industrial Efficiency and Decarbonization Office (IEDO). This grant further validates AtmosZero’s commitment to accelerating decarbonization efforts in America’s industrial sector.
AtmosZero’s innovative approach to decarbonizing industrial emissions marks a significant step towards achieving global sustainability goals. With its cutting-edge technology and strategic partnerships, AtmosZero is poised to drive meaningful change in the industrial sector and contribute to a cleaner, greener future for generations to come.