Recent Deals – 30 March

Looking for the latest information on cleantech deals? Find insight on recent innovation developments here. 

Agriculture & Food

Just, developer of plant-based egg substitutes, raised $200 million in growth equity from Qatar Investment Authority, Charlesbank Capital Partners and Vulcan Capital. Funding will go towards building the brand internationally, as well as to increase research and development of other egg products including frozen and refrigerated. The egg substitute, made from Mung beans, is reportedly more sustainable and has less saturated fats than poultry eggs.

Energy & Power

Moltex Energy, developer of molten salt small module reactors, received a grant of $50 million from Government of Canada’ Strategic Innovation Fund and the Atlantic Canada Opportunities Agency. The funding will drive the design and commercialization of a molten salt reactor and a spent fuel recycling facility in Saint John, New Brunswick. Moltex will built the world’s first 300 MW Stable Salt Reactor and aims to deliver carbon-free electricity by the early 2030s.

Materials & Chemicals

Fortify, provider of additive manufacturing solutions using filled and fiber reinforcer photopolymers and developer of magnetic 3D printing, raised $20 million in a Series B funding round led by Cota Capital. Accel Partners, Neotribe Ventures and Prelude Ventures also participated. Funding will go towards enabling volume manufacturing of its 3D printers, expand to other application fields and grow team further.  Fortify’s proprietary Digital Composite Manufacturing platform enables enhanced composite parts manufacturing through advances in material science.

Resources & Environment

Veev, developer of sustainable prefab buildings using sustainable materials and smart home sensors and devices, raised $100 million in growth equity from undisclosed institutional investors through a listing on TASE UP. Funding will go towards business expansion. Veev offers houses built with advanced materials with reduced carbon footprint, and its intelligence sensor ecosystem promotes energy efficiency and proactive maintenance.

Transportation & Logistics

Nuro, manufacturer of autonomous delivery vehicles, raised $500 million in growth equity from Chipotle and Woven Capital. The funding will drive testing and deployment of its R2 fleet for delivery services. Nuro aims to charge retailers for the local delivery of their products. In initial testing, the R2 vehicle have a maximum speed of 25 miles per hour and is a small van without any steering wheel or pedals.