CAMBRIDGE, England, Feb. 1, 2023 — Climate analytics firm Risilience has announced a $26 million Series B funding round to help global businesses transition to the low-carbon economy.

Led by Quantum Innovation Fund, alongside existing investors IQ Capital and National Grid Partners, the investment will allow Risilience to expand its market-leading SaaS platform to serve clients at any stage of their decarbonisation journey. The funds will also be used to drive international expansion, with a specific focus on the US where pending SEC rules will require climate and risk disclosures.

Risilience was spun out of the Centre for Risk Studies at the University of Cambridge Judge Business School after identifying a growing need for science-based climate analytics. The Risilience platform turns data into actionable insights, empowering organisations to understand and quantify the scope, magnitude and timescale of climate risk to their strategies and operations. This allows companies to measure and balance the potential financial impacts with the cost of transitioning their business to operate more profitably in a low-carbon economy.

Risilience works with some of the enterprise world leaders in transforming themselves for the low-carbon economy, including Nestlé, Burberry, Coca-Cola Europacific Partners, Reckitt, easyJet and Tesco.

Risilience’s ‘digital twin’ technology enables businesses to stress test the impact of numerous transitional and physical risks on their organisation including increasing regulation, potential litigation and changing consumer sentiment, that together could reduce business value by up to 30 per cent if companies fail to act.

Risilience’s CEO, Dr. Andrew Coburn, said: “We believe that the road to net zero presents an opportunity as well as a risk for global enterprises and our unique combination of technology combined with world-class risk science supports our clients to mitigate risks, as well as capitalise on opportunities. With companies under increasing regulatory and shareholder pressure to understand, report and mitigate their potential climate impact, this additional equity funding will help us support them at each stage of their journey.”

By expanding its solutions and services, Risilience will help clients from initial climate-related disclosures through to full net-zero planning, tracking and measurement, enabling them to make informed decisions in the low-carbon economy.

Quantum Innovation Fund, an affiliate of Quantum Energy Partners, provides equity capital to growing technology-enabled businesses in the climate and sustainability sector. Jeffrey Harris, Partner at Quantum Innovation Fund, said: “Risilience has demonstrated that its underlying technology platform allows large companies to better understand how best to transform their businesses and to meet the impact of climate change on their business models, supply chains and financial performance while optimising long-term capital allocation. The incremental capital provided in this financing round will enable the company to better support its growing list of clients, enhance the functionality of its software platform and expand its sales/marketing efforts.”

Kerry Baldwin, Co-Founder and Managing Partner at deep-tech investor IQ Capital, added: “We are delighted with the continued success Risilience has shown in terms of growth and the impact it is having on its existing client base. We look forward to their next stage.”

Risilience has been advised by Royal Park Partners as exclusive financial and strategic advisor on the transaction. 

About Quantum Energy Partners

Founded in 1998, Quantum Energy Partners is a leading global provider of private equity, credit, structured capital and venture capital to the responsibly sourced energy and energy transition & decarbonization sectors, having managed together with its affiliates more than $19 billion in capital commitments since inception. For more information on Quantum Energy Partners and the Quantum Innovation Fund, please visit www.quantumep.com.

About IQ Capital

IQ Capital  is a leading deep-tech venture capital firm in Europe: with $1bn AUM, for 20+ years we have invested in an unrivalled network of thought-leading founders addressing some of the largest problems in the world – across sectors including ML & AI, human-machine interfaces, advanced engineering/robotics & materials, health tech & life sciences, fintech and cybersecurity. IQ Capital’s 50+ portfolio companies are visionaries and dominate their respective markets on a global scale. IQ Capital has globally top-decile performance returns across our 5 funds. Our initial investments at Seed and Series A range from £0.5m to £10m, with capacity for follow-on investment up to £30m through our Growth Fund strategy.

Photo – https://mma.prnewswire.com/media/1992969/Risilience.jpg

SOURCE Risilience

• acquires two leading flight management systems, PFM and BART
• expands to over 700 operators and 10,000 business aircraft on its platform
• aims to expand its portfolio of digital solutions for the business aviation industry

SAN FRANCISCO, Feb. 1, 2023 — Portside, the leading Software-as-a-Service (SaaS) platform for the business aviation industry, today announced that it has raised a $50 million Series B investment led by global software investor Insight Partners, with participation from existing investors, including I2BF Global Ventures.  This new round of funding is a testament to Portside’s significant growth in 2022 and the increased adoption of its software solutions by the business aviation community. The company intends to use the new funding to accelerate software development and further expand its customer base and product portfolio.

Portside’s cloud-based product suite brings modern technology to the global business aviation industry and supports a diverse range of flight operations in over 30 countries, including charter, fractional, corporate, medical, industrial, government, military and cargo aircraft and helicopter operators.  Its product portfolio supports a growing list of functions in a typical flight department’s operation, including flight and crew scheduling, dispatch and compliance; communication with aircraft owners, passengers and crew; highly customizable sharing of operational, financial, crew, and maintenance data with various stakeholders; reporting and analytics; customer billing; crew recruiting; and the booking of crew accommodations.

In 2022, Portside acquired two flight management systems, Professional Flight Management (PFM) and BART, which provide scheduling and dispatch software primarily for corporate flight departments.  This latest investment enables Portside to enhance and modernize PFM and BART software offerings to better serve customers.

“Increasingly, operators in business aviation are looking for mobile-first and cloud-based solutions. Portside provides industry leading solutions that enable operators to grow their businesses while improving the quality of service they can offer. Our focus on the customer and delivering secure, intuitive and effective solutions makes Portside the best solution for all private, corporate and government flight departments,” said Alek Vernitsky, co-founder and CEO of Portside.

“Portside’s modern product suite allows aviation operators to enhance their operations to maximize revenue and profits. As operators look to scale, they will adopt Portside’s technology to achieve their goals cost effectively,” said Henry Frankievich, Managing Director at Insight Partners. “We look forward to supporting the team on their continued path to modernize business aviation with industry leading technology and growth.”

Portside will invest the new funds in several key areas. First, the company’s product team will continue to develop and enhance its product portfolio to better serve customer needs.  The company also intends to expand its global sales organization and strengthen its customer success operations.  Lastly, the company will be exploring new acquisition opportunities in the business aviation ecosystem. 

“Our customers often come to us with challenges they need help solving.  We are here to find a solution, whether by deploying an existing product in our portfolio, building something new or acquiring capabilities that we do not currently possess.  Despite our tremendous growth over the past few years, we are as excited today to be solving customer problems as we were on day one,” said Alek Strygin, co-founder and COO of Portside.

About Portside

Portside is a modern, cloud-based operating system for the global business aviation industry: a set of integrated software solutions addressing major industry pain points. The Portside platform supports over 700 business aircraft operators in over 30 countries. Some of their customers include Airshare, Jet Aviation, Priester and Wheels Up. Portside is headquartered in San Francisco with team members across the US, Europe and Asia. To learn more about Portside, visit portside.aero.

About Insight

Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.

SOURCE Portside

Ally Financial and 4S Bay join the growing list of investors supporting women and Black, Indigenous and People of Color entrepreneurs creating clean manufacturing jobs in low- and moderate-income communities

LOS ANGELES, Feb. 1, 2023 — The 22 Fund (The 22), a Los Angeles-based impact, early-growth venture fund, today announced multi-million dollar investments from Ally Financial Inc. (Ally) and family office 4S Bay to support The 22’s mission to address needs of diverse entrepreneurs often overlooked by traditional investors. Ally committed up to $10 million in equity investment. 4S Bay committed $1.5 million.

“Helping create pathways for underrepresented communities is one way Ally lives its purpose to do it right and drive equity and economic mobility in communities we serve,” said Jan Bergeson, Ally’s Community Reinvestment Act (CRA) Officer. “Diverse entrepreneurs and fund managers in manufacturing are often overlooked by traditional investors and our investment in The 22 Fund intentionally addresses a rapidly growing need for funding that will lead to more jobs for more Americans.”

The 22 invests in US-based, clean tech, innovative manufacturing companies that have the potential for fast growth and high profitability through an export driven focus. The strategy offers portfolio diversification to investors looking for real impact without financial concessions. The 22 invests with a holistic lens – racial, gender, climate and economic development – while generating above market returns through investing in high potential female and Black, Indigenous and People of Color (BIPOC) business leaders who have traditionally received little access to equity capital. Despite the systemic lack of capital, these business leaders and their diverse teams produce greater returns and higher exit valuations. To date, The 22 has made four investments. Each company is either woman-, BIPOC- and/or LGBTQ-owned.

“We found that as first-time, diverse fund managers, the Small Business Investment Corporations (SBICs) process comes with extreme cost and legal burdens that make it unobtainable. The 22 sees the great potential of Community Reinvestment Act (CRA) funds to address the inequities in venture capital (VC),” stated Tracy D. Gray, Founder and Managing Partner of The 22. “For over twenty years, VC has been stuck at less than 5% of women and 1% of people of color being VCs.”

Under the CRA, banks are encouraged to make investments in low- and moderate-income (LMI) communities and often include investments in affordable housing and private equity funds designated as SBICs by the Small Business Administration. However, barriers to entry in the SBIC program are substantial and have historically left out first time, diverse fund managers. The 22 meets CRA qualifications by supporting job creation, retention and/or improvement for LMI people or areas, as well as providing capital to recently formed or startup small businesses.

4S Bay, a single-family office combatting racism, bias and inequities in society, also joins a growing roster of limited partners who support The 22’s holistic mission. 

“The 22 Fund’s focus on investing in export-oriented businesses creating wealth and manufacturing jobs in BIPOC communities is perfectly aligned with the 4S Bay’s mission,” said Rashid Malik, Chief Investment Officer of 4S Bay.

About The 22 Fund 

The 22 Fund is a holistic impact investor that funds tech-based, US manufacturing companies to increase international sales (exports) and create the clean, quality jobs of the future in underserved and low- and moderate-income (LMI) communities. The 22 intentionally invests in women- and BIPOC-led firms to deliver both high ROI and high social/economic impact without concession or trade-offs. For more information, visit www.the22fund.com.

About 4S Bay Partners LLC

4S Bay Partners LLC is a single-family office that strives to eliminate prejudice and the inequities of our society. We partner with community to create economic opportunities and amplify storytelling of, for, and about marginalized communities. We achieve our mission by deploying creative private capital investments. https://4sbay.com/

About Ally Financial

Ally Financial Inc. (NYSE: ALLY) is a financial services company with the nation’s largest all-digital bank and an industry-leading auto financing business, driven by a mission to “Do It Right” and be a relentless ally for customers and communities. The company serves more than 10.5 million customers through a full range of online banking services (including deposits, mortgage, point-of-sale personal lending, and credit card products) and securities brokerage and investment advisory services. The company also includes a robust corporate finance business that offers capital for equity sponsors and middle-market companies, as well as auto financing and insurance offerings through more than 22,000 dealers nationwide. For more information, please visit www.ally.com and follow @allyfinancial.

For more information and disclosures about Ally, visit https://www.ally.com/#disclosures.

For further images and news on Ally, please visit https://media.ally.com.

Contact:
Vanessa Gray
[email protected]

SOURCE The 22 Fund

Funding to Help Fuel Advanced Driver-Assistance Systems Designed to Save Lives

MOUNTAIN VIEW, Calif., Feb. 1, 2023 — Phantom AI, a Silicon Valley startup providing a comprehensive autonomous driving platform featuring computer vision, sensor fusion and control capabilities, today announced that it has secured $36.5 million in its Series C funding round. Existing investors include KT Investment and Renaissance Asset Management with new investors InterVest, Shinhan GIB, and Samsung Ventures participating in this round.

“This is a very exciting time for Phantom AI as customers are recognizing the critical role driver-assisted technology plays in making automobiles safer for everyone,” said Jay Jinhwan Jeon of InterVest, the lead investor in this round. “We’re thrilled to partner with Phantom AI at this time to help bring this important technology to the market.”

Phantom AI is focused on helping customers reduce accidents and make every day driving more enjoyable while unlocking what’s next for ADAS. While many companies today are focused on building the Robotaxis of the world, Phantom AI believes that the better way to build autonomous vehicles and advance the future of smart cars is to democratize the use of lifesaving ADAS technologies, similar to how seatbelts have been adopted and mainstreamed since the late 1800s.

The new round will be used to accelerate the current series production development with major OEMs. With this new round, the company has raised a total of $80.2 million since its founding in 2017.

“This funding validates investor confidence in not only our mission to save lives through innovative visual perception technology but also our ability to execute on this mission,” said Hyunggi Cho, Phantom AI’s co-founder and CEO. “We’re focused on developing and expanding our product offerings, enhancing our marketing and sales efforts and accelerating our business growth with the goal to give customers the best possible multi-camera vision solutions in the market,” added Cho.

The ADAS market is growing and poised for continued growth in the coming years despite current economic challenges. Government support for the development and implementation of ADAS technologies will help mitigate the impact of the downturn on startups like Phantom AI. 

“This is quite a contrast to L4/L5 full automation areas like Robotaxis, Robo-shuttle, and Autonomous Trucking, where investments scaled back as the automotive community realized that L4/L5 is not easily commercialized for the next few years,” said Cho.

Phantom AI was founded in 2017 by Hyunggi Cho and Chan Kyu Lee, two Korean-born technologists who met at Tesla’s cafeteria a year earlier and shared their mutual desire to unlock the potential they saw in early ADAS technology. Six months later, Cho left Tesla along with Lee to pursue their dream of making roads safe for everyone.

“Phantom AI’s ADAS platform is filling an important market need for highly innovative, effective and affordable driver-assisted technology that is difficult to find in the market today,” said a representative from Samsung Venture Investment Corporation. “The ADAS market remains strong and we see unlimited opportunity for technologies that support autonomous vehicles especially as they become more mainstream.”

About Phantom AI

Phantom AI’s mission is to democratize the use of advanced driver-assistance systems (ADAS) to reduce accidents, save lives and make driving more enjoyable, while delivering tomorrow’s self-driving technology. Founded by a team with deep automotive and AI expertise, Phantom AI provides a comprehensive autonomous driving platform featuring computer vision, sensor fusion and control capabilities. Phantom AI has created the most accurate and highest-performing AI solutions available today that meet car manufacturer requirements, at a much lower price than existing solutions.

Phantom AI Social Media: Twitter || LinkedIn

SOURCE Phantom AI

New funding enables LeafLink to expand its suite of offerings for its industry-defining wholesale cannabis platform 

Ryan G. Smith named Executive Chairman, Artie Minson promoted to President and Chief Executive Officer, Karan Gupta hired as Chief Technology Officer

NEW YORK, Feb. 1, 2023 — LeafLink, the leading wholesale cannabis platform, announced it has secured a $100 million Series D financing led by CPMG, L2 Ventures and Nosara Capital, alongside participation from existing investors. The investment will be funded in two tranches. LeafLink has implemented a series of executive leadership changes to drive the Company’s evolution.

Since its founding in 2016, LeafLink has grown to become a significant partner of brands and retailers in the legal cannabis industry, serving approximately 50% of the U.S. wholesale cannabis industry across 30 markets. The Series D investment enables LeafLink to support its customers’ evolving technology and operational needs through enhanced platform functionality.

LeafLink is evolving its executive leadership team with the following changes effective February 1, 2023:

• Co-Founder & Chief Executive Officer Ryan G. Smith will be elevated to Executive Chairman. Smith will focus on long-term strategic initiatives, innovation, customer relationships, and government relations.
• President & Chief Operating Officer Artie Minson has been appointed President & Chief Executive Officer. Minson will oversee day-to-day strategy and execution of the business.
• Karan Gupta has joined LeafLink as Chief Technology Officer. Gupta will lead the Company’s engineering efforts. Prior to joining LeafLink, Gupta served in technical leadership roles for more than a decade, most recently as Chief Technology Officer at Shift Technologies.
• Co-Founder and current Chief Technology Officer Zach Silverman has transitioned into a Senior Advisor role. Silverman will continue providing counsel and guidance to LeafLink’s management team and Board of Directors.

“Despite recent headwinds, the cannabis industry is poised for significant growth in the years ahead.  Since the Company’s inception, our team has built solutions that solve some of the industry’s most critical problems. The Series D financing provides us with a strong balance sheet that will enable continued innovation alongside our customers,” said Ryan G. Smith, Executive Chairman of the Board of Directors at LeafLink. “I’m proud to have served as CEO since LeafLink’s founding and am excited to transition into the role of Executive Chairman where I’ll remain deeply committed to LeafLink and the industry as a whole. I look forward to supporting and empowering the team in their roles.”

“I’m honored to serve as LeafLink’s next CEO and look forward to working with Ryan, our employees, and our Board of Directors as we continue to deliver best-in-class technology solutions for our customers. As states across the U.S. continue to legalize cannabis, we’re looking forward to growing our partnership with the industry. Our continued goal is to help brands and retailers scale their businesses while operating safely, efficiently and in compliance. Since joining the LeafLink team, I’ve been amazed at our team’s commitment and ability to deploy industry-first solutions for our customers. I’m incredibly excited about broadening our platform’s capabilities and deepening our customer relationships in the next phase of the Company’s growth,” said Artie Minson, incoming President and CEO of LeafLink.

About LeafLink

LeafLink, the cannabis industry’s leading B2B technology platform, is standardizing how thousands of brands, distributors, and retailers manage their operations. The Company’s industry-defining tools streamline the way legal cannabis businesses create, manage, pay for, and ship their orders. LeafLink’s marketplace currently processes approximately $5 billion in annual transactions, representing an estimated 50% of legal U.S. wholesale cannabis commerce.

LeafLink is backed by leading venture capital firms and strategic investors, including Casa Verde Capital, CPMG, Founders Fund, Interplay, L2 Ventures, Lerer Hippeau, Nosara Capital and Thrive Capital. LeafLink has raised more than $230 million of equity to date as well as a $250 million credit facility to provide liquidity to the cannabis supply chain. Learn more at https://LeafLink.com/.

Media Contact:
Patrick Messenger, Director of Communications & PR
[email protected]

SOURCE LeafLink

With $28M total funding and a unique breakthrough in plasma technology that will unlock 1000x higher density than other leading solutions under development, the company is expediting the global drive toward commercializing nuclear fusion energy. 

TEL AVIV, Israel, Feb. 1, 2023 — NT-Tao, the nuclear fusion energy company setting a new standard for the future of clean energy, today announced that it has raised a $22M Series A round led by Delek US – a Fortune 500 downstream energy company – and NextGear Ventures, with additional participation from Honda, OurCrowd and the Grantham Foundation, the lead investor in the company’s seed round. This new funding will enable NT-Tao to continue to scale its team, accelerate prototype developments in the pipeline and build its new research facility. The latest investment round brings NT-Tao’s total funding to $28M.

“NT-Tao is rapidly headed towards developing a high-density, compact fusion reactor to provide the cleanest form of sustainable energy to mitigate the pending climate crisis,” said Oded Gour-Lavie, CEO and Co-founder of NT-Tao. “We’re proud to be the first Israeli fusion energy company pioneering the next generation of fusion energy to enable an era of limitless power and global energy security. With the support of industry-leading investors, NT-Tao is moving at a rapid pace of development to ensure that the commercialization of fusion energy becomes a reality.”

The growing concerns surrounding climate change, soaring energy prices, and increasing geopolitical turbulence have ignited a global urgency to mitigate energy insecurity, control rising temperatures and create a truly sustainable energy future. Renewable energy sources have been acceptable stopgap solutions, however, they’re unreliable and energy dilute, making them insufficient strategies or replacements for fossil fuels in the long run. With a projected $40 trillion valuation, the fusion energy sector represents the future of clean energy. 

NT-Tao is pioneering a new approach to fusion, combining the latest in advanced technologies that will provide the world with access to a compact and scalable fusion solution for all energy needs. To achieve this, the company invented a “Critical Angular Momentum Plasma Stabilizer,” a core component of its proprietary Super Stabilized Confined Plasma (SSCP) technology. Combining this with NT-Tao’s unique ultra-fast heating technology will enable the company to work at a density that is 1000x higher than other leading solutions. This optimal plasma regime yields a fusion reaction that is 1,000,000x stronger, resulting in significantly more efficient energy production. The company will use this investment round to perfect its technology in upcoming prototypes with the aim of achieving energy-breakeven and creating an infinite energy solution that powers the world’s sustainable, decarbonized future.

“We are dedicated to partnering with companies developing breakthrough technologies that will make a significant impact on the world, and NT-Tao fits perfectly into our partnership framework. We not only invested in the company, we also brought in with us top-notch global players to co-invest and open up collaboration opportunities for the company,” said Dr. Tal Cohen, Managing Partner at Next Gear Ventures. “Clean energy sources are an inherent and imperative component of securing a sustainable future. The compact, modular approach pioneered by NT-Tao stands out in a competitive marketplace and represents a game changer not only for the mobility sector but in how humanity will harness and democratize energy and revolutionize the world for generations to come.”

“Honda has high expectations for the future of NT-Tao, a company with advanced fusion energy technology, led by management team members with a high level of expertise,” said Shinji Aoyama, Director and Senior Managing Executive Officer of Honda. “Honda believes that fusion energy technology will be a breakthrough technology for affordable, stable, clean energy, and we envision this technology will become increasingly important as electrified vehicles become more popular. Honda will continue to search for, collaborate with, invest in, and acquire promising venture companies through our global open innovation program, Honda Xcelerator.”

About NT-Tao

NT-Tao is disrupting the global energy sector by engineering a compact and scalable nuclear fusion energy technology with the goal of achieving commercialization this decade. The company’s proprietary ultra-fast plasma heating method will enable it to reach 1000 times higher density than other fusion reactors, thereby making its fusion reaction 1 million times more effective and resulting in significantly greater efficiency of energy production than other leading solutions. Co-founded by Oded Gour-Lavie, Doron Weinfeld, and Boaz Weinfeld, NT-Tao’s mission is to enable the world to transition away from conventional energy sources such as oil, natural gas, and coal and move towards fusion energy technology, which is the cleanest, most sustainable energy source and the surest path to a decarbonized future. Emerging from stealth in 2022 and headquartered in Israel, NT-Tao is dedicated to offering the world a cleaner and safer energy alternative. For more information visit www.nt-tao.com.

About Honda Xcelerator

Honda Xcelerator is an open innovation program promoting collaboration between startups and Honda. Silicon Valley-based Honda Innovations, a subsidiary of Honda Motor Co., Ltd., has been the main driving force behind this global program. For more information visit https://xcelerator.hondainnovations.com/.

Media Contact

Gavriella Weinreb

Campaign PR

[email protected]

 (for media only)

SOURCE NT-Tao

• ONE’s Series B was led by Fifth Wall and Franklin Templeton and marks a fundraising transition from venture to growth equity investors.
• The $300 million of equity financing is joined with $220 million in grants from the state of Michigan for a total of more than $500 million to fund ONE’s battery cell factory.
• ONE has signed ten customer agreements for its products, totaling 36 GWh over the next five years, and is further preparing for phase two factory investments ahead of plan.

NOVI, Mich., Feb. 1, 2023 — Our Next Energy Inc. (ONE), a Michigan-based energy storage technology company, today announced it has closed a $300 million Series B capital raise at a post-money valuation of $1.2 billion. 

The round was led by Fifth Wall and Franklin Templeton, and joined by ONE’s Series A investors and new growth equity investors Temasek, Riverstone Holdings and Coatue. Two undisclosed strategic investors also participated in this round, including a manufacturer of EV technology solutions and a renewable energy provider, representing cell offtake agreements. Two new venture equity investors, AI Capital Partners (Alpha Intelligence Capital’s U.S.-based fund) and Sente Ventures (in conjunction with TR.PE), also participated in the round.

“Closing this fundraising round is an important milestone for ONE as we focus on launching our first LFP cell factory in 2024,” said Mujeeb Ijaz, CEO & Founder of ONE. “We are transitioning from a startup funded by venture capital to a manufacturer fueled by growth capital. That’s important in this environment where urgent demand for U.S. based cell manufacturing is on the rise, supported by the Inflation Reduction Act, in a true public-private partnership.”

ONE Circle is the company’s first battery cell factory. Located in Van Buren Township, Michigan, the factory’s exterior construction was completed in December 2022. 

“Batteries are a fundamental component of the global energy transition economy,” said Peter Gajdoš, Partner & Co-Head of The Climate Technology Investment Team at Fifth Wall. “ONE is firmly at the forefront of driving this systemic shift. We believe ONE’s next-generation mobility and stationary storage applications are a game changer and are set to transform the $100B+ battery market. We’re thrilled to be a part of the company’s category-defining growth.”

In conjunction with Franklin Templeton’s investment in ONE’s Series B, Richard Piliero, a Managing Director at Franklin Templeton, will join ONE’s Board of Directors. Piliero has more than 23 years of private equity experience.

ONE closed a $62.5 million convertible note in January 2022 as part of the Series B. The note was led by BMW i Ventures and joined by Assembly Ventures, Breakthrough Energy Ventures, Coatue, Flex [NASDAQ: FLEX] and Volta Energy Technologies.

About Our Next Energy
Our Next Energy Inc. (ONE) is a Michigan-based energy storage technology company focused on engineering batteries that will accelerate electrification. ONE’s vision is to: Double the range of electric vehicles; use safer, more sustainable raw materials; and establish a localized supply chain. Visit one.ai to learn more.

SOURCE Our Next Energy Inc.