EarthGrid
Troy Helming
Founder and CEO
Troy Helming founded 2 of the most successful renewable energy companies in the USA: Tradewind Energy (largest wind developer in USA in 2017) & Pristine Sun (leading developer of community utility-scale solar farms in USA). He sits on the board of numerous solar and clean energy companies, and has been an advisor, investor, executive director of over a dozen successful companies. He's the author of The Clean Power Revolution (2004) and creator of The Freedom Plan (2005): a blueprint to convert North American to 100% clean renewable energy.
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Infrastructure (plasma tunnel-boring). EarthGrid has developed a patented plasma arc technology to bore tunnels dramatically faster and cheaper than conventional methods. This enables underground utility grids (power lines, fiber, pipelines) to be built up to 100x faster and as low as 60% to 10% of the cost of traditional tunneling, with zero explosives or toxic chemicals.
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Seed/Series A stage. The company closed an oversubscribed seed round of $15M (expanded to $30M via additional commitments) in 2023 and a Seed extension of $10M (expanded to $14m). To date it has raised over $63 million (including prior project financing and founder contributions). It won the 2024 Startup World Cup (global) and its $1M prize. The next funding round is expected to be a Series A to fuel commercial deployment.
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Spent 7+ years in R&D to build first full-scale plasma tunnel-boring robot (patented). Generated initial revenue of $0.4M in 2023 from pilot projects. Secured rights-of-way agreements for underground infrastructure corridors (indicating future pipeline). CEO Troy Helming has 2 prior energy startups with $40B in value creation and four exits, lending industry credibility.
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Enables rapid build-out of underground transmission lines and utilities, directly reducing wildfire risk (from downed power lines) and supporting renewable energy projects. Tunneling produces no GHG emissions on-site (plasma is electric) and avoids the ecosystem damage of traditional methods. By accelerating grid expansion, EarthGrid indirectly helps unlock more wind/solar capacity (facilitating CO₂ reductions). It also eliminates the diesel emissions and explosives normally used in excavation.
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The seed round was backed mostly by family offices and angels (over 1,000 investors via NetCapital crowdfunding as one cap table entry), with a few climate-tech VCs. It has received U.S. Department of Energy support for grid modernization (the CEO contributed IP via a $6M SAFE in 2024). Won “Most Fundable Company” Platinum award from Pepperdine. Partnerships in development with utilities and data center firms for pilot tunnels (to prove cost savings in real projects).
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Unique IP (11 patents) on plasma tunneling; First mover in high-speed trenching (up to 10x faster in rock) with far lower cost structure. This enables a “grid superhighway” build-out that was previously cost-prohibitive. CEO’s track record in renewables brings customer and investor trust. EarthGrid also secures strategic rights-of-way ahead of competitors, creating a land/network advantage.
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Significant capital requirements to manufacture tunneling machines and execute projects – the business model is infrastructure-heavy (execution risk). However, opportunities are vast aging electric grids and new renewable projects urgently need transmission and underground cable solutions. Policy tailwinds (e.g. infrastructure bills, wildfire prevention funding) could catalyze demand. The main risks are technical scale-up (ensuring machines perform as expected in varied geology) and market adoption (conservative utilities). If mitigated, EarthGrid can tap into the multi-billion-dollar global tunneling and grid construction market with a sustainable, faster alternative.
Turn2X
Philip Kessler
Founder and CEO
Philip, the CEO of TURN2X, is a seasoned entrepreneur who previously founded and successfully exited an AI company. Now leading TURN2X, he is driving innovation in the energy sector with technology that produces CO2-neutral electric natural gas from green hydrogen and biogenic CO2.
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Energy (Power-to-gas technology). TURN2X produces CO₂-neutral synthetic natural gas(renewable methane) by combining green hydrogen with captured biogenic CO₂ via a proprietary methanation reactor. This yields drop-in Renewable Natural Gas (RNG) that can replace fossil gas in industry and heating without emissions increase. The modular reactors can dynamically adjust to intermittent renewable power, storing surplus energy as methane.
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Early growth (post-seed). Raised a €4.3 million seed round in mid-2023 led by LEA Partners, with Verve Ventures and First Momentum. Also secured non-dilutive support (e.g. grant from German government/European programs). Would add that we won the EIC (European innovation council) – (see https://www.linkedin.com/posts/philip-kessler_funding-renewableenergy-sustainability-activity-7247493117690429440-RZ-u?utm_source=share&utm_medium=member_desktop&rcm=ACoAAB7csJkBEecFKXe_wS3I1YrvX0i5-VD6-HM) (2.5 grant and 15M equity). Currently likely preparing for a Series A to scale up manufacturing and deployments across Europe.
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Founded 2022 out of research at KIT (Karlsruhe Institute of Technology). Built Europe’s first commercial green hydrogen-to-methane plant in Extremadura, Spain in just 6 months (ribbon-cutting in March 2024) – this pilot feeds RNG into the local gas grid and is sold to their first customer in Germany. The technology handles variable loads (an industry first) and has been running since 2019 at a demo scale in Brandenburg. TURN2X aims to avoid 1 gigaton of CO₂ by 2030 by displacing ~10% of Germany’s natural gas with RNG. Offtake agreements of total 1billion Euros from 3 focus industries: Maritime industry, Utilities sector and Energy-intensive industries.
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Each TURN2X plant recycles CO₂ and water into methane, yielding a net-zero fuel (CO₂ released upon use is equal to what was captured). This directly abates emissions in hard-to-electrify sectors reliant on gas (e.g. industrial heating). It also helps balance grids by storing renewable energy as gas. The first plant in Spain will capture ~<sup>1000</sup> tons of CO₂/year (for 1 GWh of RNG). Long-term, widespread adoption could mitigate hundreds of millions of tons of CO₂ annually by substituting a portion of fossil natural gas.
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Backed by European climate-tech funds (LEA, First Momentum) and Verve Ventures. The founders are leveraging strong German institutional support (incubated at KIT, grants via Innovators Prize). Founding member of ERLG (https://www.energy-resilience.euERLG ) -> The Energy Resilience Leadership Group is a coalition that brings together CEO’s, policy makers, financial institutions, and startups to strengthen Europe’s energy resilience
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Patented reactor tech that can ramp up/down with renewables (solving a key issue of traditional methanation). This flexibility and modularity (containerized units) let TURN2X deploy at solar/wind farms or industrial sites to capture CO₂ on-site. The RNG product is fully compatible with existing gas infrastructure, easing adoption. Also, by producing a molecule fuel, TURN2X addresses sectors that batteries or direct electrification can’t easily reach (heavy industry, long-haul transport).
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Market risk in the price of green hydrogen – the economics improve as renewable H₂ costs fall. Policy support (e.g. EU targets for renewable gas blending) will be critical; uncertainty in regulations could slow adoption. TURN2X’s opportunity is large Europe’s gas crisis and decarbonization goals create demand for secure, clean gas supplies, as well as energy resilience (Europe being independent from USA / Russian LNG imports). Competition includes other power-to-gas players and bio-methane producers, but TURN2X’s head start with a working commercial plant and adaptable tech is an advantage. Key execution risks are scaling up manufacturing of reactors and securing enough cheap CO₂ feedstock at sites. With sufficient capital and partnerships, TURN2X can position to replace a significant share of fossil gas with a carbon-neutral alternative.
Re.Green
Thiago Picolo
Re.Green, Partner and CEO
Thiago Picolo is CEO of Re.green, Brazil’s leading ecological restoration company, and has led multiple private-equity backed companies in Brazil. Previously served as CEO of Hortifruti Natural da Terra, Brazil´s largest fresh food retailer. Thiago started his carreer in finance, at Morgan Stanley and GP Investimentos, and holds a B.A. in Economics from Harvard University and OPM from Harvard Business School. Thiago is a board member at Zamp and the David Rockefeller Center for Latin American Studies.
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Nature-based carbon removal (reforestation). Re.Green is Brazil’s leading ecological restoration company, on a mission to reforest degraded Amazon and Atlantic rainforest land at massive scale and generate high-quality carbon removal credits. It acquires or partners on deforested lands and restores native forests, planting diverse species to rebuild ecosystems. The carbon sequestered is sold as credits to corporations seeking credible offsets.
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Growth stage (Project developer). Backed by significant private capital completed a $79M Series A in late early 2022. Key investors include BW, the family office for Unibanco founding family Moreira Salles, and major asset managers like Dynamo, Lanx Capital and Gávea (led by ex-central bank governor Arminio Fraga). With these funds, Re.Green is scaling operations and is likely not seeking traditional venture rounds but rather project capital and strategic partnerships (though a Series B for corporate growth could occur).
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To date Re.Green has planted over 4.4 million trees covering 11,000 hectares in Brazil. It has already restored 15,500 ha under its first phase and just signed a second agreement to restore an additional 17,500 hectares – totaling 33,000 hectares committed with Microsoft as the buyer of ~3.5 million metric tons of CO₂ removal over 25 years. Re.Green has acquired ~26,000 hectares of land from ranchers and also just partnered with a large agribusiness (AgroPenido) to reforest 600 hectares of privately owned farmland. Revenues come from multi-year carbon credit offtake agreements clients such as Microsoft. The team is close to 100 people, including forestry scientists and a seasoned CEO (Thiago Picolo) with private equity experience in Latin America.
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Huge. Each hectare reforested can sequester roughly 500+ tons CO₂ over 50 years. Re.Green’s current commitments (33k ha) could remove on the order of 6–8 million tons of CO₂ in coming decades. Beyond carbon, restoring native forests in the Amazon and Atlantic Forest yields biodiversity gains (habitat for endangered species) and hydrological benefits (improving rainfall cycles and water security). The projects create local green jobs and support communities, aligning with several UN Sustainable Development Goals. If Re.Green achieves its goal of 1 million hectares restored (about twice the size of Delaware), the climate impact would be on the gigaton scale of CO₂ removal, alongside preserving immeasurable ecosystem value.
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Supported by prominent investors Moreira Salles (of the Itaú banking family), Lanx Capital, Principia, Dynamo, and Gávea have equity stakes. Corporate buyers include Microsoft(two landmark deals totaling 33k ha). On partnerships, Re.Green works with local NGOs and research institutes to ensure scientific rigor in its restoration methods. It’s also coordinating with Brazil’s government as the country prepares to host COP30, showcasing Re.Green as a model for private-sector-led reforestation.
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Scale and integrity. While many offset projects have faced credibility issues, Re.Green focuses on high-integrity reforestation (native species, permanent protection) to generate verifiable carbon removal credits – a cut above typical avoided-deforestation credits. By owning land and planting trees itself (rather than just funding others), it controls the entire process and quality. The team’s mix of financial acumen and on-the-ground forestry expertise allows it to navigate both investor expectations and operational challenges in remote regions. Re.Green’s strong backing and multi-year offtakes also give it a capital moat – it can undertake large projects that smaller developers cannot.
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Political/regulatory risk in Brazil – changes in land use laws or carbon market regulations could affect operations (though the current government is climate-friendly). Execution risk on planting so many trees it requires careful community engagement and ecological knowledge to ensure trees survive and forests become self-sustaining. Thus far, Re.Green’s results are encouraging, mitigating this risk with data (80+ native species planted, high survival rates). The carbon credit market volatility is another risk prices can fluctuate, but demand for high-quality removals is strong and growing. Opportunities include expanding into other Latin American countries or scaling through joint ventures (e.g., partnering with timber or agriculture companies to reforest unproductive lands). Additionally, as corporates race toward net-zero pledges, Re.Green is positioned as a premier supplier of nature-based carbon removals, potentially allowing premium pricing and long-term contracts (it already commands ~$50–100/ton for its credits in private deals). Overall, Re.Green offers family offices a blend of impactful philanthropy-like outcomes (forest restoration) with a commercial model backed by real cash flows from Fortune 500 companies.