🌎 Kicking off NYCW #263

Happy Monday!

New York Climate Week has arrived, kicking off its signature whirlwind of panels, meetings, networking, and happy hours. For the climate tech community, it’s the busiest — and often the most energizing — week of the year. Whether you’re still finalizing your schedule or already have it set, we hope you’re ready for the week ahead. (And maybe our CTVC x NYCW tracker can help support your endeavors.)

We’re keeping things brief in this edition as the coffee chats begin and the week ramps up. If you see the CTVC or Sightline team out and about in the city, come say hi — we’d love to connect. And as always, look out for our full NYCW recap in your inbox on Friday. In the meantime, we’ve gathered the latest deals, news, jobs, and opportunities to get your week started.

In deals, $330m for AI infrastructure, $120m for de-extinction, and $90m for nature-based carbon removal.

In other news, a wind lawsuit, a DOE loan goes ahead, and new US generation numbers.

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Deals of the Week (9/15-9/21)

Late-Stage / Growth

🏠 Firmus Technologies, a Saint Leonards, Australia-based AI infrastructure developer, raised $330m in Growth funding from NVIDIA, Archibald Capital, Ellerston Capital, Regal Funds Management, and Tectonic Investment Management at an implied valuation of $1.9b.

🌳 Colossal Biosciences, an Austin, TX-based de-extinction biotech developer, raised $120m in Series C funding from TWG Global and US Innovative Technology (USIT) at an implied valuation of $10b.

💨 Chestnut Carbon, a New York City, NY-based nature-based carbon removal service provider, raised $90m in Series B funding from Canada Pension Plan Investment Board (CPP Investments).

🛰 Hubble Network, a Seattle, WA-based satellite bluetooth connectivity developer, raised $70m in Series B funding from Y Combinator.

🏠 ENTOUCH, a Richardson, TX-based energy management and smart buildings software platform, raised $50m in Growth funding from Respida Capital.

🐄 Nofence, a Molde, Norway-based virtual livestock fencing developer, raised $36m in Series B funding from European Circular Bioeconomy Fund (ECBF), Capagro, Climate Innovation Capital, Ferd Impact Investing, Momentum, other investors.

⚡ Sympower, an Amsterdam, Netherlands-based grid flexibility services provider, raised $23m in Series B funding from PGGM, A&G Energy Transition Tech Fund, Activate Capital Partners, Expon Capital, PDENH, and other investors.

🛵 Dat Bike, a Ho Chi Minh City, Vietnam-based electric motorbike maker, raised $22m in Series B funding from FCC, Jungle Ventures, and Rebright Partners.

🛰 GHGSat, a Montréal, Canada-based satellite GHG monitoring service provider, raised $17m in Growth funding from BDC Capital, Fonds de solidarité FTQ, and Yaletown Partners.

⚡ SunCulture, a Nairobi, Kenya-based solar irrigation pump developer, raised $5m in Growth funding from WaterEquity.

Early-Stage

⚒️ GenoMines, a Paris, France-based plant-based metal farmer, raised $45m in Series A funding from Engine Ventures, Forbion, AlphaTech Investment Group, DeepTech & Climate Fonds (DCTF), Elemental Excelerator, other investors.

⚡ Rodatherm, a Salt Lake City, UT-based geothermal power developer, raised $38m in Series A funding from Evōk Innovations, Active Impact Investments, Doral Energy-Tech Ventures, GIGA Investments, Grantham Foundation, and other investors.

🔋 Fourth Power, a Cambridge, MA-based utility-scale thermal energy storage provider, raised $20m in Series A funding from Munich Re Ventures, Breakthrough Energy Ventures, and DCVC.

🧪 BIOWEG, a Quakenbrück, Germany-based bio-ingredient producer, raised $19m in Series A funding from Axeleo Capital, BonVenture, European Innovation Council, and NBank Capital.

🛰 Atomionics, a Singapore-based quantum sensor developer, raised $13m in Seed funding from Paspalis Capital, BHP Ventures, In-Q-Tel, SG Growth Capital, VU Venture Partners, and other investors.

⚡ feld.energy, a Munich, Germany-based agri-solar system developer, raised $12m in Seed funding from HV Capital, AENU, and Future Energy Ventures.

🛰 Kreios Space, a Barcelona, Spain-based VLEO satellite developer, raised $9m in Seed funding from Join Capital, NATO Innovation Fund (NIF), Grow Venture Partners, Tasivia Global, and Xesgalicia.

🔋 suena, a Hamburg, Germany-based energy storage optimization trading platform, raised $9m in Series A funding from Eneco Ventures, 4impact Capital, EIT InnoEnergy, Energie360°, J.O.S.S., and Santander.

💨 Factor2 Energy, a Duisburg, Germany-based CO₂-based geothermal technology developer, raised $9m in Seed funding from At One Ventures, Gründerfonds Ruhr, High-Tech Gründerfonds (HTGF), Siemens Energy Ventures, and Verve Ventures.

🔋 XL Batteries, a Marlborough, MA-based flow battery long-duration energy storage provider, raised $7m in Seed funding from Merrin Investors.

⚡ Encentive, a Hamburg, Germany-based AI-based industrial energy management platform, raised $7m in Seed funding from General Catalyst, Helloworld VC, Smart Infrastructure Ventures, Summiteer, and Vireo Ventures.

🌾 Rock Flour, a Copenhagen, Denmark-based climate-smart soil amendment service provider, raised $7m in Seed funding from Export and Investment Fund of Denmark (EIFO), Novo Holdings, 2degrees, Carbon Drawdown Initiative, Nalik Ventures, and other investors.

🏭 FeX Energy, a Montréal, Canada-based metal-fuel energy storage developer, raised $3m in Seed funding from Amplify Capital, Antares Ventures, and Fathom Fund.

🍎 Terra Oleo, a Singapore-based microbial fat alternatives developer, raised $3m in Seed funding from ADB Ventures, Better Bite Ventures, Elev8.vc, and The Radical Fund.

🧪 Cascade Biocatalysts, a Denver, CO-based sustainable chemical producer, raised $2m in Seed funding from Endurance28, 10VC, 1Flourish, Amplify Capital, Range Ventures, and Stray Dog Capital.

🥩 Time-travelling Milkman, a Wageningen, Netherlands-based plant-based dairy fat producer, raised $2m in Seed funding from Evercurious, OostNL, and Sparkalis.

🥩 Summ Ingredients, a San Francisco, CA-based plant-based ingredient developer, raised $2m in Seed funding from BoxOne Ventures, Export and Investment Fund of Denmark (EIFO), Kost Capital, and Planetary Impact Ventures.

Other

🔋 Flatiron Energy, a Boulder, CO-based utility-scale energy storage developer, raised $540m in PF Tax Equity, PF Equity and PF Debt funding from First Citizens Bank, Nord/LB, BRD Groupe Societe Generale, Investec, and Santander.

🔋 Terra One, a Berlin, Germany-based large-scale battery storage systems provider, raised $177m in Debt funding from Aviva Investors.

⚡ Soluna, a Albany, NY-based renewable-powered data center developer, raised $100m in Post-IPO Debt funding from Generate Capital.

🔋 Hydrostor, a Toronto, Canada-based compressed air energy storage system manufacturer, raised $55m in PF Debt funding from Export Development Canada.

🛰 GHGSat, a Montréal, Canada-based satellite GHG monitoring service platform, raised $17m in Debt funding from Export Development Canada and National Bank of Canada.

💨 Deep Sky, a Montréal, Canada-based CCUS developer, raised $11m in Debt funding from Finalta Capital.

🧪 Cascade Biocatalysts, a Denver, CO-based sustainable chemical producer, raised $3m in Grant funding from National Science Foundation.

☀️ Lab 360 Solar, a Manly Vale, Australia-based drone-based solar inspection technology developer, raised $2m in Grant funding from Australian Renewable Energy Agency (ARENA).

💨 Brineworks, an Amsterdam, Netherlands-based ocean carbon removal technology developer, raised $2m in Grant funding from European Innovation Council.

⚒️ American Critical Minerals, a Moab, UT-based potash and lithium exploration service provider, raised $1m in Post-IPO Equity funding.

🔋 Strata Clean Energy, a Durham, NC-based renewable energy developer, completed an asset sale of an undisclosed amount from GridStor.

🚢 Econowind, a Groningen, Netherlands-based wind-assisted ship propulsion designer, raised an undisclosed amount in Corporate Strategic funding from Nissen Kaiun.

Exits

⚡ Microtec, a Naples, FL-based manufacturing equipment specialist, raised an undisclosed amount in PE Buyout funding from Ara Partners.

New Funds

💰 VoLo Earth Ventures, a Snowmass Village, CO-based climate-tech VC firm, raised $135m for its second fund (Fund II) from investors including Voloridge Investment Management, Carbon Equity, Cathay Innovation, Morgan Stanley’s Graystone Consulting, and WovenEarth Ventures.

This is a sample of the deals available on Sightline Climate. Can’t get enough deals?

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In the News

Rhode Island and Connecticut attorneys general have filed injunctions to lift the stop-work order on Ørsted’s 704MW Revolution Wind project, which is 80% complete and set to supply energy to both states. The US Bureau of Ocean Energy Management issued the order in August, over alleged concerns of national security and federal regulation compliance. The states’ lawsuit is parallel to one filed by Revolution Wind with the federal district court.

Trump’s Energy Department will move forward with a $1.3bn loan to Entek Lithium Separators, greenlit under Biden, to build a lithium-ion battery separator plant in Indiana. The loan had been on hold during a broader Trump admin review of $400bn in DOE financing. By backing domestic production of key EV and storage components, the move signals continuity in US industrial policy and strengthens supply chain resilience for the energy transition.

The US added more than 15 GW of new electricity generation between January and May 2025, with solar dominating at 11.5 GW, followed by 2.3 GW of wind and 1.3 GW of gas, according to FERC’s latest report. Despite federal setbacks for renewables, through tax credit rollbacks and stop-work orders, solar has been the largest source of new capacity for 21 straight months and now accounts for over 11% of US generating capacity.

Output from mature global oil and gas fields is declining at an accelerating pace, amid greater reliance on shale and deep offshore resources, according to the IEA. Nearly 90% of upstream spending is now required just to offset declines, with conventional oil fields falling 5.6% annually and gas fields 6.8%. The findings are intensifying tensions with OPEC, which argues the IEA’s clean energy-focused 2021 report discouraged investment.

Nuclear batteries are experiencing a revival as researchers and startups explore safer, more efficient designs. Using isotopes such as nickel-63, tritium, and carbon-14, new betavoltaic technologies promise lightweight, decades-long power for space missions and remote sensors. However, high costs, regulatory barriers, and waste management still pose challenges to widespread adoption.

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Opportunities & Events

📅 Climate Tech Showcase: At NYC Climate Week, on Wednesday, September 24, come to an event spotlighting early-stage climate tech innovators. Meet the inaugural cohort of Climate Tech Fellows, and hear about breakthroughs in grid resilience, hydrogen storage, coral restoration, and wildfire prediction!

💡 Exelon Climate Change Investment Initiative: Exelon is investing in start-ups tackling climate change while advancing social equality. Apply by Monday, September 29 to access a minimum $100,000 equity investment and join a network of other innovators driving climate tech forward.

📅 Magical Thinking and Greenwashing in Big Tech’s AI Takeover: At NYC Climate week, on Thursday, September 25, for a panel on how generative AI’s rapid growth impacts communities and the climate, from data center pollution to misleading “climate solution” claims by Big Tech.

💡 Start Up Energy Transition Award 2026: The SET Award is an international competition for start-ups driving the global energy transition. Apply by October 31 to compete across categories including clean energy and storage, transportation, industry, and construction.