AtmosZero Closes $21 Million Funding for Zero-Emissions Industrial Boiler Commercialization

Person working on AtmosZero Boiler 2.0

(Credit: AtmosZero)

by | Feb 21, 2024

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AtmosZero has closed on a $21 million Series A funding round that will support commercialization of its Boiler 2.0 system, a zero-emissions technology used to generate high-temperature steam for industrial applications.

The boiler may replace conventional, fossil fuel-based boiler systems, which reportedly account for about 8% of global energy use. Boiler systems are needed across a variety of industries, from the built environment to chemical manufacturing, and they make up about half of process heat used in industry overall. These fossil fuel-based systems currently cause about 2.25 gigatons of carbon emissions each year.

AtmosZero’s technology offers an electrified, drop-in steam boiler replacement that operates by extracting heat from the air to efficiently create steam. By using ambient heat from the air, the system can cut down on overall facility energy needs, boosting efficiency and saving companies on energy costs, AtmosZero said.

The funding round was co-led by Engine Ventures and 2150, joined by Constellation Energy and existing backers, including Energy Impact Partners, Starlight Ventures, and AENU. In addition to the recent investment, AtmosZero was also given a $3.2 million grant from the Department of Energy’s Industrial Efficiency and Decarbonization Office.

AtmosZero Plans to Test Boiler in New Belgium Brewing Pilot

Last year, AtmosZero partnered with New Belgium Brewing to initiate the first commercial pilot of its electrified boiler. The 650-kilowatt Boiler 2.0 will be installed at New Belgium’s headquarters in Fort Collins, Colorado, later this year.

The new investment will support the pilot project, as well as the launch of AtmosZero’s European subsidiary based in Amsterdam.

As the industrial sector works to reduce its emissions impact, many technologies are targeting decarbonization of industrial heating, the main cause of the sector’s emissions. Along with AtmosZero, Electrified Thermal Solutions also recently received funding from the DOE to accelerate the commercialization of its thermal battery.

“The path to net-zero emissions runs through the boiler room and requires the replacement of existing fossil-based systems,” said Michael Kearney, general partner at Engine Ventures. “Reducing reliance on fossil fuels isn’t just an environmental imperative — it’s a geopolitical one, too. We are thrilled to support the AtmosZero team’s mission to decarbonize industrial emissions with its scalable, drop-in electrified solution.”

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