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What find when a chemical engineer , who ’s previously establish a atomic number 1 - powered drone , becomes a venture capitalist?Energy Revolution Ventures(ERV ) , that ’s what . The VC has now close up an $ 18 million seminal fluid and Series A fund to induct in deep tech , such as vigor repositing , carbon capture , and , yes , hydrogen engineering .
Marcus Clover , co - founder and partner at ERV told TechCrunch : “ I study at Cambridge , and think I was pass away into oil and gas . I terminate up getting hired as employee No . 1 for an aerospace startup . We were building a hydrogen - powered drone pipe for telecom practical app . ”
After doing that for five long time he joined another firm arrange H fuel cells in heavy - duty vehicles : “ I see firsthand , as an engineer work this quad , how much innovation was happening in the vigor sector . I realized I had to get into it from the investment funds side . That ’s when I teamed up with two of my partners . ”
The 2023 time of origin fund include LPs from family place in the metallic element and energy sector , high - final - deserving individuals , andBidra Innovation Ventures , the corporate venture capital arm of Morocco ’s OCP Group . ERV already has a portfolio of nine companies , includingGreen Li - ion(lithium - ion barrage fire recycling),Anthro(structural , safe battery ) , andOort Energy(low - price renewable H₂ ) .
ERV has both a monetary fund and a venture builder , dubbed Prosemino . The thought is that the investment trust can both commit in autonomous startups as well as spin up novel ventures , establish on its in - house technical expertness . It draw on a web of advisors , propagate across the University of Oxford and University College London . It has also work up some specialist laboratories to assist its startups .
“ We have 4,000 straight foot of wet chemical science and ironical lab space here in London . We think it ’s the only lab of its form outside of Europe , not related to a university , ” say Clover .
ERV ’s scheme is found on the idea that a lot of innovation is about to pass off in alchemy , specially in the field of vigor .
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“ When I was working hydrogen , back in 2015/2016 , way before the latest atomic number 1 ballyhoo cycle per second , the most advanced tech was in the space sphere . We were assay to repurpose it for aircraft . Doing that work teaches you a wad about how to redesign clobber from first rule and how to operate in minor teams with tight budgets . So I can connect to a lot of the company which we ’ve now invested in , ” say Clover .
He added that the house ’s thesis is not just about decarbonization , but also electrification : “ It ’s more than just electric contemporaries . You still need to hive away the power , channelize it to where it ’s necessitate , and then electrify immense parts of the economy … We are literally rewiring the economy , and we postulate huge amount of engineering science to do that . We reckon how software made launching space projectile cheaper and better . I believe the same affair is going to happen with energy , and that ’s the really exciting part of the story . ”
TechCrunch has insure two of the investee companies in ERV ’s portfolio : Anthro Energyhad their $ 7.2 million seeded player round partially led by ERV , andDivigasis in the portfolio .
Clover pronounce that while some investors are concentrate on decarbonization , the growth through electrification “ is even more exciting from a market perspective . ”
To particular date , ERV Fund 1 has made nine investments , including :
Blixt – Developers of computer software - enabled power electronics . The inauguration has been take to link NATO ’s Defence Innovation Accelerator for the North Atlantic ( DIANA ) programme .
Ecolectro – Innovators of fresh polymer designed for the next coevals of electrolyzers in the atomic number 1 industry .
orthogonal – Creators of cheap and durable Metal - organic frameworks ( MOFs ) designed for carbon capture , petrol breakup , and purgation purposes .
