August 2024 UPDATES
FUND III
Opened their Denver office and grew their Vancouver installations team to 7.
Hired Emma Chastain as Director of Strategy & Justin Craig as Operations & Director of Customer Success.
Scoped and outsourced a new outsourced engineering team that will allow antenna design to be completed on time and under budget.
Won a joint RFP with an advanced distribution management system provider for a European customer as the Grid Copilot for their operations center. This is ThinkLabs' first customer outside of North America.
Completed 3 weeks of field testing with the first fleet of 5 vehicles and fully functioning battery swap stations.
FUND II
Hit 500% YoY growth with 39 customers using their commercialized product. Kicking off a $8-10MM Series A round to 10x revenue while launching internationally and expanding new business lines.
Doubled production capacity to 40lbs/hour across two machines. Launched a product development partnership with the Niterra Group, a major global plasma technology company.
Signed a year long contract with Farm to People and a contract with Shef for the East and West Coast. Powering the infrastructure for the United States’ first citywide reusable cup program in the SF Bay Area, which kicked off in August.
Continues to finance energy projects but is finding that the software they built to increase the efficiency of their funding operations team is attracting interest from the market. 20 demos were booked with equipment lenders in August to introduce this software solution.
Finalized a partnership with Mitsubishi, which will feature the Flair product suite through Mitsubishi sales channels.
More than doubled their active card users in new markets outside of NYC and neared completion of a direct bank integration, which will set Future up for scale.
Continued focus on scaling production. Progressed to the final stage of a government grant to support the company’s manufacturing plant build-out.
Launched 3 product offerings on container tracking, purchase optimization and analytics to accelerate sales processes including new decks, pitch, product features and landing pages.
Announced the launch of a 320 kW solar program at Marin Square in San Rafael, CA, benefiting over a dozen local businesses.
Completed integration with Autodesk Fusion, the most widely used cloud-based CAD platform in the world.
Closed multi-device program with Healdsburg and renewed Sacramento municipal utility district.
Announced the release of their global AI hybrid renewables optimizer, building on the launch of their global AI optimizer, to help site, design, and vet electrolysis projects.
Soft launched a self-serve-speed limit feature with an AI tool integration. Hired Aldo Vargas, Ph.D. as a Senior Engineer Manager and Mathieu Ashby, B.Eng., M.A.Sc. as a Simulation Engineer.
Selected out of 800+ applicants from 74 countries for one of 21 spots in the AWS Clean Energy Accelerator 4.0.
Sponsoring Convention 2024 for the International Textile Manufacturers Federation & International Apparel Federation in Uzbekistan, for which they created this corporate promotional video.
FUND I
Co-presented commercial results with PepsiCo at the World Water Congress in Toronto. Signed design contract for a multi-location wastewater project with an Escondido-based bakery.
Onboarded over 1500 buildings, representing >1M tCOe reduction potential and $500M in lifecycle utility savings.
Carbon America continues to progress on its next funding round.
Received additional $4 million investment from InBC Investment Corp. Announced Microfactory expansion into Atlanta, Georgia, and secured their first Japan flagship Microfactory in Tokyo.
Contracted the final two wind farms in a 12 farm portfolio in Pakistan for a total of 583MW, representing a significant portion of Pakistan's installed wind capacity. Secured a 456 MW wind portfolio in Brazil, one of the largest wind farms in the country.
Signed Ojos Locos to expand from pilot to a full roll out across 30 locations. Won a full expansion to 46 sites with Tetra Management, a Pizza Hut franchisee.
Received terms for a large debt financing facility that would allow them to execute efficiently with strong unit economics on the tower expansion deal they recently signed with a major cell-tower provider.
Updated their team structure and increased focus on defined ICPs, resulting in an increased market fit with more activity and expansion with consulting partners and asset managers, who are using the AI-enabled rapid assessments of cohort climate disclosures.
Selected by Nova Scotia Co-op to serve as their impact tracking and reporting platform.
Launched 40 campaigns as part of their back-to-school campaign, leading up to the release of an interactive Back to School Guide featuring 70+ better for you products.
Received a $2M grant from the Government of Canada.