Found Energy
Found Energy is a renewable energy company and cleantech startup engaging in turning aluminum into a renewable energy carrier. It recovers aluminum waste from landfills and uses a carbon-free process to produce hydrogen on-demand for less than US$ 0.50 per kilogram of hydrogen and at five times the volumetric energy density of liquid hydrogen.
The company is building aluminum fuel power systems aimed at eliminating carbon emissions from heavy industrial applications ranging from industrial heating (7% of global CO2 emissions) to maritime shipping (3% of global CO2 emissions).
Building off technology developed at the Massachusetts Institute of Technology (MIT) that enables metallic aluminum to split water, Found’s energy delivery systems safely generate hydrogen and/or industrial heat on-site at more than five times the volumetric energy density of liquid hydrogen, more than three times that of methanol and ammonia, and more than 25 times that of Li-ion batteries.
By integrating storage, transport, and generation into a single package, Found Energy’s technology solves some of the biggest challenges in renewable energy transmission and storage.
Founded in 2022, Found Energy believes in securing a livable and equitable future for our planet.
In April 2024, JIMCO’s Technology Fund participated in the US$ 12 million Seed Round alongside a collection of international investors, aligned with JIMCO’s mission to accelerate alternative energy and mitigate the impact of climate change.
Found Energy is addressing the climate crisis by providing an economic, safe, and ethical alternative to traditional fossil fuels. With their novel energy carriers, they are bringing clean energy to some of the most difficult-to-decarbonize industries on Earth, including industrial heating (20% of global CO2 emissions), maritime shipping (3% of global CO2 emissions), and more.
The company has developed an aluminum-thermal power system that continuously generates carbon-free industrial heat, hydrogen, and aluminum hydroxide on-site from various aluminum feedstocks. Compact and modular, Found Energy’s technology unlocks a promising new tool to accelerate heavy industry’s transition away from fossil fuels.
The demonstration systems operating at Found Energy’s Boston, USA headquarters have caught the attention of large industrial energy consumers. With the capital raised, the company is delivering pilot systems to early adopters and further scaling their technology for industrial production. In this next phase of growth, Found Energy looks forward to bringing aluminum energy to the world stage.
Found Energy believes first and foremost in securing a sustainable and equitable future for the planet, and that climate change is among the greatest and most preventable threats to this future. Found is doing their part to mitigate and adapt to climate change by providing an inexpensive, safe, and ethical alternative to fossil fuels. Through novel energy carriers, Found is bringing clean energy to the most difficult-to-decarbonize industries on Earth.
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