# Found Energy Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/found-energy

- Industry: Renewable Energy
- Headquarters: Boston, US
- Website: www.found.energy/
- Total disclosed funding: $15M
- Latest round: Seed (Jan 24, 2024)
- Investors on record: 8

## About

Established in 2022 and based in Massachusetts, US, Found Energy Co. is a company that uses aluminum-thermal power systems to harness aluminum's energy and convert it into sustainable energy. Peter Godart (CEO) and Gadi Ruschin (CBO) are the co-founders of the company. In April 2024, Found Energy Co. raised USD 12 million in seed funding from KOMPAS, Munich Re Ventures, Good Growth Capital, Autodesk Foundation, J-Impact, GiTV, Massachusetts Clean Energy Center, and Glenfield Partners Ltd.

The company provides its primary product, aluminum-thermal power systems, that boast the ability to extract energy from aluminum at double the energy density of diesel. Found Energy eliminates carbon emissions from heavy industrial applications ranging from industrial heating to maritime shipping. The firm’s solutions encompass a diverse range of applications, such as industrial heat, hydrogen production, and alumina trihydrate (ATH). The company’s technology solves pain points in renewable energy transmission and storage by integrating storage, transport, and generation into a single package.

The organization plans to use the April 2024 funding to further expand its technology for industrial manufacturing and use the cash to provide pilot systems to early adopters.

## Funding rounds

- Seed, Jan 24, 2024, $15M — Massachusetts Clean Energy Center, Munich Re Ventures, Good Growth Capital, GiTV, Autodesk Foundation, Kompas, J-Impact, Glenfield Partners LTD

## Investors

- Massachusetts Clean Energy Center (https://capitalatlas.ai/funds/massachusetts-clean-energy-center) — Seed
- Munich Re Ventures (https://capitalatlas.ai/funds/munich-re-ventures) — Seed
- Good Growth Capital (https://capitalatlas.ai/funds/good-growth-capital) — Seed
- GiTV (https://capitalatlas.ai/funds/gitv) — Seed
- Autodesk Foundation — Seed
- Kompas (https://capitalatlas.ai/funds/kompas) — Seed
- J-Impact (https://capitalatlas.ai/funds/j-impact) — Seed
- Glenfield Partners LTD — Seed