For founders developing transformational technologies for the energy industry.
2S Water has developed a sensor for real-time detection of metals and atomics in water. This technology enables process optimization, regulatory compliance, and early issue identification for customers in the initial target markets of mining and municipal water. 2S Water’s AquaValid sensor can detect 30 different metals, and generates data every five minutes.
Aurora Hydrogen is developing a “turquoise hydrogen” technology, using efficient microwave energy to create low-cost hydrogen and solid carbon from natural gas without generating CO2. Aurora’s technology has a lower overall greenhouse gas (GHG) impact than the “green hydrogen” produced in most regions around the world because it requires less electricity. The commercial technology will be highly scalable and modular; units could be installed anywhere there is natural gas and electricity.
ChargeLab builds software for managing chargers for electric vehicles (EVs). ChargeLab’s hardware-agnostic platform runs on four out of five of the world’s most popular EV chargers, and ChargeLab’s platform makes any EV charger smarter and easier to use. Property owners and operators, as well as utilities and fleet operators, use ChargeLabs’ charging station management system to connect and control all their EV charging infrastructure from one place allowing them to manage revenue, users, energy output, and much more.
IronSight bridges the gap between the teams that operate and manage field assets, and the teams that execute that work in the field. Whether working exclusively with internal resources, or with an entirely contractor-based operation, IronSight seamlessly connects everyone involved. In the field, IronSight uses the GPS already built into workers’ existing mobile devices to enable real-time data capture and decision making. In the office, the web app makes dispatching, organizing, and analyzing field work as easy as ordering a pizza. On the back end, IronSight integrates with existing software solutions so data can flow wherever it is needed. IronSight has achieved a 15 percent reduction of OPEX/CAPEX to some of the world’s largest oil and gas producers.
Moment Energy provides affordable, performant, and reliable energy storage by repurposing retired electric vehicle (EV) batteries. Moment Energy provides cost-effective, robust grid storage solutions by working with utilities and major automotive companies to take advantage of the 80 percent remaining capacity in retired EV batteries.
SunGreenH2 has developed high-performance electrolyzer components and is building a modular, scalable, high-efficiency anion exchange membrane (AEM) electrolyzer system that uses renewable power to produce low cost-green hydrogen for industries, transport and energy storage. The company produces electrolyzer components which double hydrogen production, use 10 percent lower energy, and reduce the use of platinum group metals by 30x compared to traditional electrolyzer technology.
IronSight takes the guesswork out of field operations by providing energy producers and service providers a platform with real-time tools and data to know which people and equipment to dispatch for the greatest return on investment. Using field knowledge and an industry-tested platform, IronSight is creating six and seven-figure annual cost reductions for some of the largest energy producers in Canada and the United States.
During its time in the CDL-Rockies Energy stream, IronSight further developed its product into a two-sided platform. It previously only served energy producers but now serves service providers as well. This change came about in part because of guidance received at CDL, co-founder Shawn Martens said. The company’s pool of potential clients is now vastly larger than it was. Mentors Michael Kanovsky, Patrick Elliott and Scott Saxberg assisted IronSight by making introductions to clients, helping with capital raise efforts, and bringing the team’s ability to communicate its value up from a management level to an executive level, Martens said.
In 2021, IronSight announced a strategic capital raise from ARC Financial and Lifting Solutions that allowed it to expand its team, cloud-based service offerings, and ability to enter and serve new markets. The company is currently working towards raising CAD $3 million to $7 million in Series A funding. That funding will scale its implementation and training team, engineering and product resources, and sales and marketing staff; it will also support IronSight’s expansion to markets outside North America and into new industry verticals. IronSight also grew its 22-person team into a 40-person team over the course of its time at CDL. Some funding for its upcoming Series A round will likely come from relationships made at CDL.
With respect to objective 2 (financing), suggest drafting key objectives and use of proceeds that will enable a successful Series A raise.
Judy Fairburn • Fellow, CDL-Rockies Mar 15, 2022 @ 1:14 PM ET