Voya Energy Raises $13 Million to Turn Metal into Carbon-Free Fuels – ESG Today

Cleantech startup Voya Vitality introduced its public launch, alongside the closing of a $13 million seed funding spherical to develop its new expertise to provide carbon-free “metallic fuels.”

Launched by means of a collaboration with founding investor Vitality Influence Companions (EIP), California-based Voya is growing expertise to transform recycled metals into highly effective, secure, and sturdy gasoline, enabling quick, versatile deployment of electrical energy with out dependence on centralized grids or pipelines. In accordance with the corporate, the brand new breakthrough expertise will assist to deal with the worldwide demand for clear energy, with a brand new pathway to ship decarbonized, distributed vitality.

The corporate’s founders embody CEO Richard Wang, previously CEO of battery expertise firm Cuberg, Chief Industrial Officer Matt Horton, previously CEO of EV charging startup Voltera and EVP of Vitality and Charging Options at Rivian, and Chief Expertise Officer Steven Kaye, former CTO of vitality storage expertise firm Our Subsequent Vitality.

Wang mentioned:

“Our ample electrical future calls for a radical new vitality supply system, one which isn’t restricted by conventional grid infrastructure. At Voya, we’re harnessing the inherent energy of metals and creating a brand new class of unpolluted and dependable energy technology programs that may ship vitality anyplace on Earth with unparalleled pace and suppleness.”

The seed funding spherical was led by EIP, and included participation from Founders Fund, 8090 Industries, Overmatch, IQT, Belief Ventures, Seven Stars, Liquid 2 Ventures, SV Angel and particular person buyers together with Brian Janous, Sheldon Kimber and Peter Reinhardt.

Shayle Kann, Companion at Vitality Influence Companions, mentioned:

“Voya represents a completely new strategy to distributed vitality technology, with the potential to unravel a few of the world’s most crucial challenges. We’re thrilled to again this distinctive staff as they create a collection of essentially new applied sciences to market.”