# Propel

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/propel

- Industry: Renewable Energy
- Headquarters: Redwood City, US
- Website: www.propelfuels.com
- Total disclosed funding: $28M
- Latest round: Series D (Dec 11, 2012)
- Investors on record: 4

## About

Propel, Inc. focuses on producing and distributing renewable fuels, offering products like Flex Fuel E85 and Diesel HPR, designed to provide environmentally friendly alternatives to traditional fossil fuels.Founded by Michael Kudriavtseff and Rob Elam, Propel, Inc. operates out of Redwood City, US. The company specializes in renewable fuel production and has undergone shifts in business strategy over time. Propel secured USD 11.00 mn through a Series D round of funding in December 2012, with Accord Equipment Finance as a notable investor.  Propel has completed 13 deals to date.Propel Fuels specializes in the production and distribution of renewable fuels, focusing on Flex Fuel E85, a high-performance ethanol-blended fuel, and Diesel HPR, a renewable diesel product. Flex Fuel E85 is aimed at vehicles that can utilize higher ethanol content, offering a sustainable alternative to traditional gasoline and reducing greenhouse gas emissions. Diesel HPR delivers a cleaner-burning solution for diesel engines, appealing to users who prioritize lower emissions. Propel's distribution network caters to a diverse clientele, including individual consumers and fleet operators, primarily in the West Coast markets of the US and Canada, emphasizing sustainability and efficiency in its offerings.Propel Fuels generates revenue through direct sales of its renewable fuel products, primarily Flex Fuel E85 and Diesel HPR, to a wide customer base, including individual consumers and businesses. The company has partnered with numerous retail stations for seamless access to its fuel offerings, where transactions typically occur on a pay-per-fill basis. Customers can check real-time fuel prices and availability via the Propel mobile app. Additionally, Propel engages in wholesale fuel supply agreements, providing bulk fuel deliveries to fleets and businesses, with pricing aligned with market rates for renewable fuels.Propel, Inc. aims to enhance its product lineup with upcoming launches of new renewable fuel alternatives. The company is focused on expanding its market presence beyond the West Coast, targeting additional regions across the United States and Canada by the end of 2023. The recent Series D funding of USD 11.00 mn will support these growth initiatives, including investments in infrastructure and marketing to enhance visibility and accessibility of its fuel products.

## Funding rounds

- Series D, Dec 11, 2012, $11M — Nth Power, @Ventures, Craton Equity Partners, G Squared
- Series C, Feb 10, 2010, $12M — Nth Power, @Ventures, Craton Equity Partners
- Series A, Aug 14, 2007, $4.8M — Nth Power, @Ventures

## Investors

- Nth Power (https://capitalatlas.ai/funds/nth-power) — Series A, Series C, Series D
- @Ventures (https://capitalatlas.ai/funds/ventures) — Series A, Series C, Series D
- Craton Equity Partners (https://capitalatlas.ai/funds/craton-equity-partners) — Series C, Series D
- G Squared (https://capitalatlas.ai/funds/g-squared) — Series D