MassCEC Investments Portfolio

MassCEC supports Massachusetts climatetech companies through both direct equity and debt investments. These investments span a diverse range of companies across various stages and sectors of climatetech. By investing in promising and economically sustainable companies, MassCEC seeks to advance climate technology, fill funding gaps in the market, create green jobs in the Commonwealth and leverage private capital.

Active Portfolio Companies

Adept Materials develops multifunctional construction materials that increase energy efficiency, improve comfort, increase durability, and simplify construction of buildings.

AeroShield is developing super-insulating, transparent inserts for windows, bringing state-of-the-art thermal comfort and energy savings into buildings at an affordable price.

Allium Engineering is developing a novel corrosion-proof rebar technology that can triple the lifetime of concrete structures, increasing the resiliency and sustainability of infrastructure.

Ascend Elements manufactures advanced battery materials using valuable elements reclaimed from spent lithium-ion batteries. Our patented Hydro-to-Cathode™ process transforms today’s waste into high-value materials for tomorrow’s EV batteries — a giant step up in sustainability for the entire industry.

Blackburn Energy is a award-winning clean energy technology company developing renewable electric power solutions for the commercial trucking industry which increase fuel efficiencies, lower fuel costs for drivers, and reduce carbon emissions.

Boston Materials is enabling the mass-adoption of lightweight composites to drastically reduce transportation emissions

Cala Systems manufactures intelligent heat-pump water heaters that learn a household’s preferences, save on energy bills, and reduce emissions while delivering abundant hot water.

Clean Crop Technologies uses a proprietary electrical “cold plasma” process to decontaminate seeds, reducing food waste and increasing crop yields while reducing the need for harmful chemicals.

1366 Technologies invented multicrystalline solar wafers that increase efficiency and cut material costs by up to 50 percent.1366 Technologies has merged with Hunt Perovskite Technologies to form Cubic PV.

DemandQ cloud-based system integrates with your Charge Station Management System (CSMS) and Building Automation System (BAS) to control electricity costs and reduce demand charges across all operations

Electra is developing intelligent battery control technologies designed to reduce system costs and weight, while doubling battery lifetime and improving safety for energy storage systems.

Ekotrope has developed the #1 HERS rating software in the country in addition to a suite of innovative software products for raters, utilities, building product manufacturers, and lenders that are all aimed at empowering the construction of energy efficient homes.

Found Energy’s power systems use aluminum as a high-energy-density fuel to produce clean heat and hydrogen for the decarbonization of heavy industries.

Idle Smart developed an automated engine start stop solution that maintains fleet uptime by keeping batteries charged and engines warm, as well as reducing overnight idle time and providing year-round cabin comfort for drivers.

Julius Education helps employers, non-profits and governments grow the workforce for sustainable industries by attracting new talent, developing current staff, and mapping the skills and training needed for the jobs of the future.

Lithios is developing a new electrochemical process that makes it economical to extract lithium from low-grade brine resources, opening up new sources of supply for this essential battery material.

Loci Controls is the leader in automated landfill gas collection. Loci’s real-time monitoring, measurement and control of landfill gas composition, pressure, temperature and flow has proven to increase gas collection by 20% or more while improving safety and reducing operational costs.

Luminous Robotics aims to speed the deployment and reduce the cost of solar power with fleets of robots that operate alongside human workers.

Nanoramic Labs specializes in technologies and material solutions based on nano-carbons. They synthesize and incorporate nano-carbons in various materials and transfer these properties at the macroscale level, addressing major challenges in energy storage and thermal management.

NONA Technologies is developing highly efficient, low-cost desalination devices for portable and industrial markets, using its patented Ion Concentration Polarization process.

Quantela became a leader in smart lighting and smart city technologies upon acquiring MassCEC portfolio company CIMCON Lighting in August 2021.

Raptor Maps builds software that analyzes solar plant performance and organizes the data into a transparent system of record to standardize and compare data across installations, increase performance and reduce costs.

Sunwealth offers full-stack financing for projects in any phase of development and construction, from early stage through the acquisition of operational assets. Making project financing simple and profitable for our solar installation and development partners, enabling you to focus on delivering the benefits of clean energy to your customers and communities.

Titan Advanced Energy Solutions patented ultrasound technology of advanced battery management systems for lithium-ion batteries, provides customers with over 99% SoH/SoC accuracy over the battery life and at least 20% increase in charge capacity and 125% increase in battery life.

Transaera systems use sponge-like material that grabs moisture from the atmosphere enabling air conditioners to cool the air more efficiently. Then use the heat generated by the air conditioner – instead of wasting it – to dry the material for the next cycle.

Triton Anchor is developing a specialized helical anchor for floating offshore wind turbines that is low cost and marine-life friendly.

VALIS Insights Inc. makes software and sensing tools to improve the efficiency and profitability of scrap metal recycling, increasing the sustainable supply of critical materials for clean-energy industries

Via Separations eliminates energy use in industrial processes, enabling pathways for a more sustainable, resource efficient future. With its core filtration technology, Via can slash the energy used in separation processes by 90%.

Voda.ai developed cutting-edge cloud software that uses artificial intelligence to rank your pipes by Risk of Failure within the next 12 months (for Operations Teams) and within the next 5-10 years (for Planning Teams). Helping utilities prioritize pipe replacements, conserve water and energy, and avoid catastrophic breaks

Exited Portfolio Companies

Manufacturer of high efficiency HVAC systems for commercial buildings.Emerson acquired 7AC in November 2020 and will be commercializing 7AC's technology.

Developer of solid oxide fuel cell technology and rugged uninterruptible power supplies. MassCEC sold its shares in Acumentrics in December 2020

World’s leading waste & recycling solution for public spaces. Bigbelly was recapitalized by McCarthy Capital in December 2019.

Solar comparison shopping platform that reduces customer acquisition cost and sales cycle time. Schneider Electric acquired EnergySage in December 2021

Heila Technologies simplifies the aggregation and operation of distributed energy resources to create self-managing microgrids, to optimize performance and control. Kohler acquired Heila Technologies in December 2021

OptiRTC platform is a cloud-native SaaS platform that integrates sensors, forecasts, and environmental contexts to actively control stormwater infrastructure at greatly reduced cost and with less risk than existing alternatives.

PanelClaw is the #1 flat roof racking provider in North America. Deployed on over 11,000 projects totaling more than 2.0GW in more than 35 countries around the world. Growth loan that was repaid in full in June 2018.

Pecos Wind Power designs, builds, and sells wind turbines for distributed generation. Leverages MW-scale design techniques to develop the world’s most cost effective kW-scale distributed wind turbine enabling innovative business models to make the switch to wind a financially smart and hassle free decision.

Powerhouse Dynamics has developed a hardware and software solution which monitors, analyzes and controls circuit-level energy consumption in small commercial buildings. Acquired by Middleby Corporation in April 2019.

Developed web-based building energy analytics software to perform energy audits.In October 2015, Retroficiency was acquired by Ecova, successfully exiting MassCEC's portfolio.

Developed and marketed stand-alone PV-powered lighting systems and accompanying controllers.SolarOne was acquired by France-based Fonroche Lighting in August 2019.

Solstice Power Technologies provides turnkey customer solutions for shared solar. It also offers subscriber aggregation and management services to solar developers, utilities, and other providers of shared solar energy.

WeSpire employee engagement platform enables individuals and entire organizations to drive measurable, positive impact in areas of sustainability, volunteering, health and wellness, and corporate citizenship. WeSpire was bought by Bonterra in May, 2023.

Offers a comprehensive suite of fleet electrification solutions to accelerate EV transformation. XL Fleet went public in December 2020 (NYSE:XL)