Critical Energy announced that it has raised $22 million in seed funding to accelerate deployment of its modular, factory-built turbine power generation systems.
The funding rounds were led by Susa Ventures and Upfront Ventures. The company also secured a debt facility with Silicon Valley Bank.
Investors in the round also included MaC Venture Capital, Underground Ventures, Scribble Ventures, Susquehanna Sustainable Investments, Humba Ventures, BoxGroup, Liquid 2 Ventures, Ritual Capital, Matt Fox, Dangerous Ventures, NosTerra Venture Capital, Climate Capital, Mike Matson, Clocktower Ventures, Alumni Ventures, and others.
Critical Energy is developing modular turbine power generation systems designed to address a key bottleneck in power production. The company’s mission is to help accelerate the transition from a fossil fuel-based economy toward abundant clean energy.
The company is focused on turbines because all forms of 24/7 power use a turbine to convert heat into electricity. Critical Energy said these systems can benefit from rapidly scalable, factory-built modular units.
Critical Energy’s first products are the 2.5 MW Apex 2500 and 5.0 MW Apex 5000. These systems are aimed at supporting geothermal power generation by solving turbine-related bottlenecks and enabling greater scale-up of always-on, zero-emission power from geothermal heat.
The company was founded by Spencer Jackson, who previously worked at SpaceX. Critical Energy is positioning its technology to support broader clean energy deployment by making turbine power generation more scalable, modular, and easier to manufacture.
KEY QUOTES:
“Energy runs the world. Humanity’s ability to further itself is dictated by its access to energy, especially on-demand 24/7 energy. Our mission at Critical Energy is to help humanity move off a fossil fuel based economy and into an abundant clean energy future. We are doing so by tackling the bottleneck of power production today, the turbine.”
Spencer Jackson, Founder and CEO of Critical Energy
