Mainspring Energy announced that it has secured $258 million in a Series F funding round to expand its linear generator power business and operations as it grows in manufacturing and customer sales. General Catalyst led the raise. They were joined by Amazon’s Climate Pledge Fund, DCVC, Temasek, Marunouchi Innovation Partners, M&G Investments, Pictet Group, Mainspring’s earlier investors, including Lightrock and LGT Bank, Khosla Ventures, Gates Frontier, and others.
Mainspring Linear Generators offers significant cost, reliability, and flexibility advantages, including the ability to switch among fuels dynamically. And the products are also fully dispatchable, and their low emissions make them easily sited and permitted anywhere. They are scalable from a single unit to a grid-level array, delivering from 250 kW to 100+ MW of power in any increment needed. And the product is easily manufacturable and can scale to meet growing power needs.
This combination of flexibility benefits gives customers optionality in power deployment and has led to the products’ rapid adoption in segments as diverse as data centers, EV charging microgrids, commercial buildings, residential developments, cold storage facilities, hospitals, and wastewater treatment plants.
The two new Mainspring Board members bring valuable operational knowledge and expertise in the power generation and hardware industries. And Linebarger, who will be joining the Board on behalf of General Catalyst, is the former Chairman and CEO of global power leader Cummins. Previously he served as SVP at GE Capital, Chair of the U.S.-China Business Council, and in other corporate leadership roles. Mayer is an experienced public company executive, CEO, and board member with roles at leading corporations including Sempra, Box, HP, Cisco, Apple, and various startups.
KEY QUOTES:
“I am excited to join the Mainspring Board of Directors at this critical time for energy. The demand for innovative solutions to meet power needs has never been higher, and Mainspring brings a unique and winning solution to the market.”
- Tom Linebarger
“Mainspring’s linear generator technology has the potential to accelerate the future of low-carbon energy and support a more resilient electric grid – two important goals for Amazon as we work to become net-zero carbon across our operations by 2040. We are excited to collaborate with the talented team at Mainspring as they work to scale their business to meet growing energy demands for new and existing customers.”
- Thomas Selby, corporate development manager with Amazon’s Climate Pledge Fund
“Mainspring is fortunate to have the support of many of the top energy investors in the world, with a strong international perspective, as we prepare for our next phase of growth. This round, along with the growth of our Board, strengthens our capacity to deliver more power – faster and at scale – around the world. It also positions us to advance U.S. leadership in innovative power technology and bolster national energy security.”
- Mainspring CEO and Founder Shannon Miller
New board members: The company has also added two Board members with deep energy and tech industry operating experience – Tom Linebarger, former Chairman and CEO of global power solutions leader Cummins, and Bethany Mayer, former CEO of public technology company Ixia and former Board member of energy infrastructure giant Sempra.
