Cache Energy raises $8.5M in seed funding for LDES technology
Description:
On June 20, 2024, Cache Energy announced $8.5M in seed funding for its long-duration energy storage (LDES) technology. Cache utilizes low-cost materials (pellets made of lime derived from limestone, as opposed to traditional sand or bricks) to increase energy capacity at a rate 8-10 times more affordable than the next alternative. Its target market includes industries such as manufacturing and chemicals that require cost-effective energy storage for large amounts of heat energy. Voyager Ventures is investing in Cache's potential to simultaneously reduce emissions and lower customers' costs. The LDES startup will collaborate with Voyager to scale their technology, which currently has one operational pilot reactor. Cache plans to raise a Series A round by the end of the year.
Leadership:
Arpit Dwivedi - Founder
Investors:
Voyager Ventures - a venture capital firm investing in early-stage climate technology companies creating the foundation of a decarbonized global economy and a livable future for all.
Cantos VC - a venture capital firm investing in near frontier tech that will change the world.
Climate Capital - an early-stage climate tech VC with over 250+ portfolios across various sectors working on decarbonizing the global economy.
Evergreen Climate Innovations - a nonprofit investment fund that provides catalytic capital and support to entrepreneurs and startups that bring impactful climate technologies to market.
Grantham Foundation - a private foundation that invests in early stage positions in important yet underfunded climate opportunities.
Halliburton Labs - a collaborative environment for people to come together to advance cleaner, more affordable energy.
Muus Climate Partners - the climate tech venture capital arm of MUUS & Co. MUUS that has been investing in the convergence of decarbonization and technological innovation for 6 years, in addition to decades in renewable energy.
Unshackled Ventures - the first and only early-stage venture capital fund focused on retaining foreign talent in the U.S.
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