Recent Deals – 16 January 2024

Tech-enabled, land-based salmon farms; modular SAF rendering technology; and Cloud-controlled energy storage systems derived from recycled EV batteries – Recent deals worth looking at: 

Agriculture & Food 

GeoSalmo  (2021) is a developer of tech-enabled land-based salmon farms. 

GeoSalmo secured $14.7M in Seed funding on January 2nd 

The funding will enable GeoSalmo to initiate construction of its hybrid flow-through salmon farm in Iceland along with continuing other development activities. Investors from Norway, Sweden, Iceland and the Netherlands all participated in the round.  

Energy & Power  

Catcos (2007) is a developer of cloud-controlled 100 kWh distributed battery energy storage system using recycled EV batteries.  

Cactos successfully raised $28.5M in funding for the investment fund Cactos Fleet Finland LP via the Finnish Climate Fund and OP Finland Infrastructure.

This funding forms part of Cactos’ plans to raise €70M in capital (consisting of €35M in equity and €35M in debt) to invest in its energy storage units.   

Materials & Chemicals 

FlyORO (2022) is a developer of modular biofuel rendering technology for sustainable aviation.  

On January 11th, FlyORO secured $1.6M in Seed funding from Audacy Ventures, Investible and other undisclosed private investors.  

This funding will support the company’s strategic initiatives for international expansion into the Australian and U.S. markets. The funding follows FlyORO’s successful launch of their revolutionary modular SAF blending technology, the AlphaLite.  

Resources & Environment 

Vartega Carbon Fiber Recycling (2014) is a developer of a plastic recycling process for lightweight carbon fiber-reinforced recycling.  

Vartega Carbon Fiber Recycling raised $10M in Series B funding.  

Funding from this round will be allocated to fully utilize Vartega’s new 82,000 square foot production facility and commercialize additional recycling processes to broaden feedstock availability. Vartega’s proprietary recycling processes enable the recovery and conversion of high-performance carbon fiber used in aerospace components, automotive parts, and wind turbine blades into Fenix Fiber, a carbon fiber reinforcement for compounded thermoplastics.  

Transportation & Logistics 

Ampersand (2014) is a developer of a hardware solution for charging electric bikes with solar panels.  

On January 4th, Ampersand raised $12M in Growth Equity funding to accelerate product development and to scale up a battery swapping network. This round was accompanied by $7.5M debt funding from Africa Go Green Fund, raising $19.5M overall.  

Enabling Technologies 

Lumian (2023) is a provider of hardware agnostic systems that analyze energy data using machine learning to support energy savings. 

Lumian’s Seed funding round on January 2nd raised $3.2M via Domino Ventures and Ismail Ferhat Ozlu.  

The funding will be used to increase sales volume and to support development in Turkey and Germany and expand into new regions.  

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