Alan Neuhauser
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Articles by Alan Neuhauser
Energy and climate deals of the week
Venture Capital • Atlas Atomics, a nuclear startup cofounded by Vivek Ramaswamy, reportedly raised $400m at a $1.9b valuation. General Catalyst led, joined by a16z. • Icon, an Austin, Texas-based robotic construction startup, raised $200m in Series D funding. Baillie Gifford and BlackRock led, joined by Capital Factory, CAZ Investments, Moderne Ventures, Moonshots Capital, Norwest, Overmatch, The Syndicate, and Tiger Global.
Scoop: The Nuclear Company delays planned IPO as market cools
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Scoop: Bedrock Robotics raising $600M to automate construction
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Climate Wheels: Subaru, Take 2
Subaru's first electric vehicle was a teetotaling scold, with schoolhouse-stiff seats and literal alerts to "sit up." The automaker's new Uncharted and Trailseeker EVs still play the schoolmarm, but at least the Uncharted sugars it with a smile. The big picture: The Uncharted is a sinuous riff on Subaru's compact Crosstrek: a lifted hatchback that replaces the Crosstrek's hard angles with lithe curves.
Exclusive: Veir raises $110M for superconducting cables for data centers
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Exclusive: Torch Systems raises $11.5M for grid monitoring
Torch Systems, a remote monitoring provider for electric grids and other infrastructure, raised $11.5 million in equity and debt, CEO Vasya Tremsin tells Axios Pro. Why it matters: The company has expanded beyond wildfire detection. The latest: Torch Systems raised $9.5 million in equity funding via SAFE notes from Khosla Ventures, Abstract Ventures, Construct Capital and Starship Ventures. It also closed $2 million in venture debt from Silicon Valley Bank.
Seattle-area Helion quietly moves goalpost on fusion
Building toward fusion. Photo: Mike Kane/Bloomberg via Getty Images Helion Energy, one of the companies that has helped turn the Seattle area into a global hub for fusion energy, is softening its timeline for reaching full commercial operation. Why it matters: The Everett-based company, which just opened a new Seattle office, has promised to produce fusion electricity years ahead of competitors.
Energy and climate deals of the week
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Exclusive: Fourth Power commissioning thermal grid battery
The startup plans to launch a Series B funding round this fall.
Scoop: ArcTern is preparing to raise a $400 million fund
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Helion quietly shifts goalpost on fusion energy
Sam Altman-backed Helion Energy is quietly hedging how soon it expects to hit full operation, based on statements from executives and updates to its website. Why it matters: The startup reached a $15.5 billion post-money valuation by promising to commercialize fusion energy production years ahead of competitors. State of play: Helion this year removed a prediction from its website that Orion, the company's first commercial power plant, will begin producing electricity by 2028.
Energy and climate deals of the week
Axios Pro Exclusive Content Illustration: Sarah Grillo/Axios. Stock: Getty Images Venture Capital • iPronics, a Spanish provider of optical networking solutions for AI infrastructure, raised $125m in Series B funding. Maverick Silicon and Light Street Capital led, joined by Nvidia, Triatomic Capital, Bosch Ventures, Catalight Capital, European Innovation Council Fund, Tate Family Trust, Fine Structure Ventures, Amadeus Capital Partners, Build Collective, and Criteria Venture Tech.
Electric fire truck purchases are driven by employee health and climate concerns
Axios Pro Exclusive Content The battery-driven Pierce Volterra pumper at San Diego Fire-Rescue Department Station 52 is almost indistinguishable from a conventional diesel-powered fire engine. Photos: Alan Neuhauser/Axios Excited as I was to experience an electric fire engine firsthand, I didn't fully understand the rationale for one. Even the crunchiest climate advocate can tolerate fueling a life-saving truck with diesel.
Fire trucks for the earth
Axios Pro Exclusive Content The battery-driven Pierce Volterra pumper at San Diego Fire-Rescue Department Station 52 is almost indistinguishable from a conventional diesel-powered fire engine. Photo: Alan Neuhauser/Axios I was excited to see an electric firetruck firsthand earlier this year, but I didn't fully understand the rationale for one. After all, even the crunchiest climate advocate can tolerate diesel when it's saving lives.
Harbinger Motors CEO talks about box trucks bet
The economics are there, regardless of politics.
U.S. cities are experimenting with electric police cars
The only purpose-built police EV in America offers serious advantages over a traditional internal-combustion squad car.
Startups are betting on electric vehicle fleets
The sector is seeing raises both small and large.
Scoop: Indigo raising $65M for fleet EVs and software
Axios Pro Exclusive Content Indigo Technologies is developing an EV designed for fleets and compatible with self-driving technologies. Photo: Courtesy of Indigo Technologies Indigo Technologies, a developer of electric vans and software for ride-share fleets and last-mile delivery services, is raising $65 million in Series C funding, Axios Pro has learned. Why it matters: The startup, which is challenging Waymo and Zoox, expects to roll out robotaxi-ready vehicles in 2028.
Crusoe raises $3.9B in pre-IPO round
The data center developer drew a $27 billion pre-money valuation.
Exclusive: Flathead Forge is raising a $200 million debut fund
Axios Pro Exclusive Content Chad Bown, a managing director at BP Ventures for six years, joined Flathead Forge this summer. Photo: Courtesy of Flathead Forge Flathead Forge, a Houston venture firm focused on hard-tech startups, is targeting $200 million for a debut fund it aims to close this year. State of play: The fundraise comes as Chad Bown, former head of Americas at BP Ventures, joins the firm. Flathead Forge has made nine investments so far, with another eight in the pipeline, Bown says.
Energy and climate deals of the week
Venture capital • Dogotix, a robotics subsidiary of listed Chinese EV maker Xpeng, raised $900m at a $3b valuation from investors like Alibaba and IDG Capital. Go deeper • Starcloud, a Redmond, Wash.-based developer of orbital data centers, raised $250m in Series A extension funding at $2.3b post-money. Manhattan West led, joined by Nvidia, Cisco Investments, Cedar Capital, Goanna Capital, Standard Capital, and insiders Benchmark, EQT, Soma, NFX, and 776.
Scoop: Form Energy hitting banks for $1B loan for IPO access
Morgan Stanley, fresh off managing Form Energy's $750 million Series G, declined to contribute to the credit request, as has Bank of America.
Scoop: Geothermal startup Eavor taps Morgan Stanley as it eyes going public
The move comes as Eavor, one of the most well-funded geothermal developers, overhauls its business model.
Exclusive: Mantel raises $18M for carbon capture
It's gearing up for a $50M to $200M Series B next year.
Wheels: Chevrolet Silverado EV, a family work truck
Who could ask for anything more?
Energy and climate deals of the week
Venture Capital • Also, a micromobility company spun out of Rivian last year, raised $150m in Series D funding. Prysm Capital led, joined by Eclipse, Greenoaks, and MVP Ventures. Go deeper • Apollo Atomics, an MIT spinoff building next-gen pressurized water reactors, raised $31m in seed financing led by FCVC and joined by YC, Telesoft Partners, Alumni Ventures, Robinhood Ventures, Nucleation Capital, Pelion VC, and Duke Capital Partners.
Exclusive: Astro Mechanica will buy United jet engines for on-site power
The startup is capitalizing on soaring electricity demand from AI data centers.
Scoop: Fusion startup Shine Technologies hires Goldman, JPM for IPO
It joins a growing list of fusion startups going public.
Scoop: Geothermal developer XGS Energy preparing to raise $300M
The startup is on the IPO shortlist, having hired Morgan Stanley to test investor appetite.
Scoop: Data center developer Crusoe in IPO talks
It's meeting with at least four banks.
Energy and climate deals of the week
Venture Capital • Finn, a German car subscription provider, raised €140m in Series D equity and debt funding at a $1b+ post-money valuation. Portage led the equity, joined by UVC Partners, Planet First Partners, and Korelya Capital. Debt came from BC Partners Credit and Runway Growth Capital. Go deeper • Yulu, an Indian electric mobility startup, raised $63m in equity led by GEF Capital Partners and $30m in debt.
Scoop: Sizable Energy raising $25M for offshore energy storage
It's developing ocean-based pumped hydro.
Exclusive: Riven Systems raises $7.9M for minerals processing tech
Cerberus Ventures led the pre-seed round for Riven Systems.
Scoop: Form Energy cuts valuation in latest raise
Axios Pro Exclusive Content Form Energy has raised more than $2 billion since its launch in 2017. Photo illustration: Thomas Fuller/SOPA Images/LightRocket via Getty Images Long-duration battery developer Form Energy raised its latest funding at a $1.75 billion pre-money valuation, Axios Pro has learned. That's down from about $3 billion pre-moneyin October 2024. Why it matters: More conventional battery technologies have gotten cheaper and longer-lasting while Form has developed its technology.
Exclusive: Princeton Critical Minerals raises $16M to boost lithium production
It's developed floating pads to boost minerals yields.
We drove it: Slate Auto's low-cost electric pickup
A pleasant ride for roaming around town.
Energy and climate deals of the week
Venture Capital • Base Power, an Austin, Texas-based home battery startup led by Zach Dell, raised $1b in Series D funding at a $13b post-money valuation from Ribbit, Addition, Valor Equity Partners, and JPMorganChase, Altimeter, D1 Capital Partners, Sands Capital, Coatue, Layer Global, and Energy Impact Partners and insiders Thrive Capital, a16z, Lightspeed, Trust Ventures, and CapitalG.
Scoop: Slate Auto raising $500M for low-cost electric pickups
The round comes on the heels of its $650 million Series C.
Scoop: Shell Ventures selling about 10 portcos to Alantra
Oil majors are trimming green spending for oil and gas.
Climate-tech valuations are getting crazy again
Generalist investors are pouring money into power and minerals tech.
Energy and climate deals of the week
Axios Pro Exclusive Content Illustration: Sarah Grillo/Axios. Stock: Getty Images Venture Capital • Antares, a Torrance, Calif., nuclear reactor startup, raised $470m in Series C funding. Paradigm and Caffeinated Capital led, joined by Point72 Ventures, Shine Capital, and Industrious Ventures. • Claros Technologies,a Minneapolis-based developer of PFAS-destruction tech, raised $55m in Series B funding.
Thermal batteries are hotter than ever
Global venture investment in thermal batteries, which store energy as heat instead of electricity, has surged beyond prior full-year totals to a record $634.6 million. Why it matters: Investors are betting that backlogs for natural gas equipment will force heavy industry to buy alternatives like these batteries.
Commonwealth Fusion raises $1 billion
The startup may raise another private round before an IPO.
Nuclear energy startup funding is heating up
Venture funding for nuclear energy startups — both fusion and advanced fission — is surging. By the numbers: Global investment is over $4.5 billion for 81 companies so far this year, according to PitchBook, putting 2026 on pace to smash last year's record haul of $6.2 billion for 93 companies. Most of that is in the U.S., including yesterday's $370 million Series C round for California-based microreactor developer Antares (which also added $100 million in new debt funding).
Scoop: Tempo raising $40M for heat batteries
Formerly known as Redoxblox, it last raised $40.7 million.
Scoop: Tempo Energy raising $40M for heat batteries
Formerly known as Redoxblox, it last raised $40.7 million.
Energy and climate deals of the week
Venture capital • Atoms, an LA-based robotics company led by former Uber CEO Travis Kalanick, raised a $1.7b round led by Andreessen Horowitz. Bain Capital, Fifth Wall and Uber joined. Go deeper • Sila, an Alameda, Calif.-based battery tech developer, raised $300m led by Atreides Management and Sutter Hill Ventures. 8VC, Bessemer Venture Partners, Matrix Partners, and T. Rowe Price Associates.
Scoop: Radify Metals raising $20M for modular refining
Its systems produce just water as waste.
Scoop: Nth Cycle canceled $50M raise before SPAC
It pitched investors on a Series C, Axios Pro has learned.
Inside Nth Cycle's SPAC merger deal
It "will fund our entire business plan," CEO Megan O'Connor says.
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