AtmosZero – a company on a mission to decarbonize steam – announced the closing of a $21 million Series A round co-led by Engine Ventures and 2150 to accelerate the commercialization of its Boiler 2.0 technology. And Constellation Technology Ventures, the strategic venture arm of Constellation Energy Corporation also joined the round along with existing backers Energy Impact Partners, Starlight Ventures, and AENU.
Today industrial steam – which is used across the built environment and industries from food and beverage to chemical manufacturing – is generated by burning fossil fuels onsite in boiler systems that account for nearly 8% of global primary energy use. And AtmosZero’s proprietary Boiler 2.0 technology extracts heat from the air and delivers high-temperature steam with maximum efficiency and zero carbon emissions, allowing companies to replace their existing natural gas and oil boilers quickly and cost-effectively.
Last year, AtmosZero unveiled a strategic partnership with New Belgium Brewing Company that involves a full-scale pilot at New Belgium’s flagship facility. And the company launched its European subsidiary, AtmosZero Europe, B.V., based in Amsterdam. AtmosZero will use this funding to advance both efforts including executing the commercial pilot and expanding the company’s European reach.
Along with the Series A investment, AtmosZero was recently awarded a $3.2 million grant from the U.S. Department of Energy’s Industrial Efficiency and Decarbonization Office (IEDO) aimed at helping rapidly decarbonize America’s industrial sector.
KEY QUOTES:
“AtmosZero is solving for industrial decarbonization by electrifying the boiler room and building a scalable, drop-in replacement product rather than complex and expensive customized projects. Our vision is to eliminate global emissions from fossil-fueled boilers. The investment today from leading US and European investors is a tremendous validation of our technology and approach to eliminating Scope 1 boiler emissions.”
- Addison Stark, CEO and Co-Founder of AtmosZero
“The path to net-zero emissions runs through the boiler room and requires the replacement of existing fossil-based systems. Reducing reliance on fossil fuels isn’t just an environmental imperative — it’s a geopolitical one, too. We are thrilled to support the AtmosZero team’s mission to decarbonize industrial emissions with its scalable, drop-in electrified solution.”
- Michael Kearney, General Partner at Engine Ventures
“Industrial process heat in the form of steam is essential for industries spanning food and beverage through to district heating and is responsible for over 2 gigatons of carbon dioxide per year. We were hunting for a solution that could unlock the vast impact potential in this market, with an offering that was a financial no-brainer to customers. The technology Addison and his all-star team have developed does exactly that and we look forward to supporting AtmosZero as they roll out their technology to the customers that eagerly await them in Europe.”
- Christian Hernandez Gallardo, Partner and Co-Founder of 2150
