Zero Industrial’s $10M Investment in North American Thermal Energy Storage
Zero Industrial Secures $10 Million to Decarbonize Industrial Heat
Table of Contents
- Zero Industrial Secures $10 Million to Decarbonize Industrial Heat
- Zero Industrial: Decarbonizing Industrial Heat with Thermal Energy Storage (Q&A)
- What is Zero Industrial and what do they do?
- What is Thermal Energy Storage (TES)?
- How does Zero Industrial decarbonize industrial heat?
- How does Zero Industrial Finance Projects?
- What is the recent news about Zero Industrial?
- Who are the key investors in Zero Industrial?
- What is Evok Innovations?
- What is Rusheen Capital Management?
- Why is Evok Innovations excited about partnering with Zero Industrial?
- Were is zero Industrial expanding?
- What type of customers is Zero Industrial seeking?
- What are the benefits of using Zero Industrial’s Heat-as-a-Service agreement?
- Summary of Key Data
- Where can I find more information about Zero Industrial, Evok Innovations, and Rusheen Capital Management?
CHARLESTON, S.C. – Zero Industrial, Inc., a company focused on decarbonizing industrial heat through thermal energy storage (TES) systems, announced Monday it has closed a $10 million funding round. Evok Innovations led the investment, with participation from Rusheen Capital Management.
Ted Knee, founder and CEO of Zero Industrial, said the funding will accelerate the deployment of thermal energy storage projects across north America. “We are excited to partner with Evok and Rusheen to help us rapidly develop projects with industrial clients seeking to lower energy costs and reduce their carbon footprint,” Knee stated. The company aims to replace the burning of fossil fuels with stored electricity as thermal energy.
Company Focus: Thermal Energy Storage
Founded in 2024 by Knee and Jim McDermott, Zero Industrial focuses on utilizing commercially available systems to decarbonize industrial heat. The company provides comprehensive project advancement services, including technology selection, project design, and engineering for each TES system. Zero Industrial finances each project and sells heat or steam to it’s customers under long-term heating contracts, eliminating the need for upfront capital expenditure from industrial facilities.
Investor Perspective
Naynika Chaubey, a partner at Evok Innovations, expressed enthusiasm for the partnership. “We are thrilled to team up with Ted and his team at Zero Industrial to build a leading development company that will accelerate the decarbonization of industry,” Chaubey said. She added that Zero Industrial’s approach addresses the challenges of intermittent renewable energy and strained electrical grids by converting surplus clean electricity into usable heat and steam for industries.
Expansion Plans
Zero Industrial is actively developing projects in the United States and Canada and is seeking industrial customers interested in decarbonizing their industrial heat processes, eliminating pollutants, and reducing energy costs and volatility.
About Zero Industrial, Inc.
Zero Industrial develops industrial decarbonization projects using thermal energy storage technologies to eliminate fossil fuel combustion for heat and steam production. The company offers end-to-end development solutions, from design and engineering to project execution and delivery. Heat produced by its projects is sold under a Heat-As-A-Service agreement, requiring no capital investment from customers. The company is expanding in the U.S., canada, and exploring international markets.
About Evok Innovations
Evok Innovations is a venture capital fund that supports entrepreneurs developing new technologies within heavy industry. Evok provides capital and expertise to accelerate the success of its portfolio companies, leveraging its team of technologists, corporate builders, and limited partners, including major financial institutions and industry leaders. Founded in 2016, Evok invests in energy and critical minerals sectors, managing a $284 million fund aimed at supporting Series A+ companies in North America.
More facts is available at www.evokinnovations.com.
About Rusheen Capital Management
Rusheen Capital Management (RCM), based in Santa Monica, Calif., specializes in investments that promote sustainability and resource efficiency in the energy transition landscape. Founded in 2015,RCM focuses on growth-phase businesses in sectors such as carbon capture and utilization,energy transition,low carbon emissions,and water sustainability. Since 2003, RCM leaders have founded, directed, and invested in over 40 energy transition companies.
Additional details can be found at www.rusheen.com.
Contact: Sara Holba, [email protected]
Zero Industrial: Decarbonizing Industrial Heat with Thermal Energy Storage (Q&A)
What is Zero Industrial and what do they do?
Zero Industrial, Inc. is a company focused on decarbonizing industrial heat using thermal energy storage (TES) systems. Founded in 2024 by Ted Knee and Jim McDermott, the company aims to eliminate fossil fuel combustion for heat and steam production by using stored electricity. They offer end-to-end development solutions, including project design, engineering, execution, and delivery.
What is Thermal Energy Storage (TES)?
While the provided text doesn’t explicitly define TES, we can infer its function.Zero Industrial uses TES technologies to store energy and then use it to produce heat and steam for industrial processes.
How does Zero Industrial decarbonize industrial heat?
Zero Industrial achieves decarbonization by replacing fossil fuels with stored electricity as the source of thermal energy. This process helps industrial clients lower energy costs and reduce their carbon footprint.
How does Zero Industrial Finance Projects?
Zero Industrial finances each project which allows them to sell heat or steam to customers under long-term heating contracts.This removes the need for upfront capital expenditure from industrial facilities.
What is the recent news about Zero Industrial?
Zero Industrial announced it has closed a $10 million funding round, with Evok Innovations leading the investment and participation from Rusheen Capital Management. This funding will accelerate the deployment of thermal energy storage projects across north america.
Who are the key investors in Zero Industrial?
The main investors mentioned in the article are:
Evok Innovations: Led the $10 million funding round.
Rusheen Capital Management: Also participated in the funding round.
What is Evok Innovations?
Evok Innovations is a venture capital fund that supports entrepreneurs developing new technologies within heavy industry. They provide capital and expertise to accelerate the success of their portfolio companies. They focus on Series A+ companies in North America, manage a $284 million fund, and invest in energy and critical minerals sectors,
What is Rusheen Capital Management?
Rusheen Capital Management (RCM), based in Santa Monica, CA, specializes in investments that promote sustainability and resource efficiency in the energy transition landscape. Since 2003, RCM leaders have founded, directed, and invested in over 40 energy transition companies.They focus on growth-phase businesses in sectors such as carbon capture and utilization, energy transition, low carbon emissions, and water sustainability.
Why is Evok Innovations excited about partnering with Zero Industrial?
Naynika Chaubey, a partner at Evok Innovations, stated that they are “thrilled to team up with Ted and his team at Zero Industrial to build a leading development company” to accelerate industry decarbonization. Zero Industrial’s approach addresses the challenges of intermittent renewable energy and strained electrical grids.
Were is zero Industrial expanding?
Zero industrial is actively developing projects in the United States, Canada, and is exploring international markets.
What type of customers is Zero Industrial seeking?
Zero Industrial is seeking industrial customers interested in decarbonizing their industrial heat processes, eliminating pollutants, and reducing energy costs and volatility.
What are the benefits of using Zero Industrial’s Heat-as-a-Service agreement?
The Heat-As-A-Service agreement eliminates the need for upfront capital investment from customers. The company offers end-to-end development solutions from design and engineering.
Summary of Key Data
Here’s a swift overview of Zero Industrial’s operations and the recent investment:
| Key Feature | Details |
|---|---|
| Company Focus | Decarbonizing industrial heat with Thermal Energy storage (TES) |
| Funding Round | $10 million |
| Lead Investor | Evok Innovations |
| Services Offered | Project design, engineering, execution, Heat-as-a-Service |
| Customer Benefit | No upfront capital expenditure, reduced carbon footprint, and lower energy costs |
| expansion | united States, Canada, and exploring international markets |
Where can I find more information about Zero Industrial, Evok Innovations, and Rusheen Capital Management?
Zero Industrial: (Not provided in the article; contact Sara Holba at [email protected] (email protected))
Evok Innovations: https://www.evokinnovations.com
* Rusheen Capital Management: http://www.rusheen.com