# ClearFlame Engines

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/clearflame-engines

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Geneva, US
- Website: www.clearflameengines.com
- Total disclosed funding: $50M
- Latest round: Series B (Nov 21, 2022)
- Investors on record: 8

## About

ClearFlame Engines, Inc., based in the US, is a pioneering company focused on developing innovative engine technologies that utilize renewable fuels, specifically for heavy-duty diesel engines.ClearFlame Engines, Inc. specializes in advanced engine solutions that enable efficient operation on biofuels like ethanol, founded in 2016 in Geneva, US. The company, co-founded by BJ Johnson and Julie Blumreiter, has navigated seven funding rounds, with the latest being a Series B round on November 21, 2022, raising USD 30.00 mn from investors including Mercuria, Breakthrough Energy Ventures, Rio Tinto Group, and WIND Ventures. The current valuation of the company stands at USD 91.60 mn.ClearFlame Engines focuses on innovative engine technologies that utilize renewable fuels, specifically tailored for heavy-duty diesel engines. Their proprietary technology allows these engines to run efficiently on biofuels such as ethanol, addressing sustainability issues in transportation without compromising performance or emissions standards. Key customers include manufacturers of heavy-duty trucks and agricultural equipment, as well as fleet operators transitioning to cleaner energy solutions. Their products are primarily marketed in North America, with plans for expansion into additional regions.ClearFlame Engines generates revenue through partnerships with OEMs (original equipment manufacturers) and direct sales to fleet operators. Revenue stems from licensing agreements for their proprietary technology, allowing manufacturers to integrate ClearFlame's solutions into their engine designs. This B2B sales model ensures ongoing support and collaboration, with revenues linked to the volume of units produced and customization levels required by clients.In November 2022, ClearFlame Engines raised USD 30.00 mn in Series B funding led by Mercuria Energy Company, with participation from Breakthrough Energy Ventures, Rio Tinto Group, and WIND Ventures. The funding will advance their technology and support social governance initiatives. The company aims to launch new products designed for enhanced operational efficiency using renewable fuels, targeting additional markets beyond North America, with specific regions to be identified in upcoming strategic planning.

## Funding rounds

- Series B, Nov 21, 2022, $30M — Rio Tinto Group, Breakthrough Energy Ventures, WIND Ventures, Mercuria
- Series A, Oct 15, 2021, $17M — John Deere Foundation, Clean Energy Venture Group, Breakthrough Energy Ventures, Mercuria
- Seed, Apr 2, 2020 — IrishAngels
- Seed, Feb 27, 2020, $2.7M — Clean Energy Venture Group, Clean Energy Ventures

## Investors

- Clean Energy Venture Group (https://capitalatlas.ai/funds/clean-energy-venture-group) — Seed, Series A
- Clean Energy Ventures (https://capitalatlas.ai/funds/clean-energy-ventures) — Seed
- IrishAngels (https://capitalatlas.ai/funds/irishangels) — Seed
- John Deere Foundation — Series A
- Breakthrough Energy Ventures (https://capitalatlas.ai/funds/breakthrough-energy-ventures) — Series A, Series B
- Mercuria — Series A, Series B
- Rio Tinto Group — Series B
- WIND Ventures (https://capitalatlas.ai/funds/wind-ventures) — Series B