Clean energy is landing major dollars in the Seattle area.
In recent years, local clean energy companies Group14 Technologies, Helion and TerraPower have all raised funding rounds of $500 million or more, standing in stark contrast to the overall venture capital market’s recent decline. With major capital funneling to the local clean energy industry, it’s natural to wonder when these technologies will start making a difference in the lives of everyday consumers.
Although the exact timeframe for widespread availability varies from company to company, the rest of this decade is a crucial time for Seattle-area clean energy companies.
“We’re literally commercializing now as we speak,” said Rick Luebbe, co-founder and CEO of Woodinville-based battery technology company Group14. “Literally this year and next year, it’s happening right now.”
Group14 makes a silicon-based anode powder designed to replace the traditional graphite powder in batteries today, with the goal of making batteries cheaper, longer-lasting and smaller. The company, founded in 2015, raised a $614 million Series C round last year, plus $100 million from the Department of Energy. Group14 is making inroads in consumer electronics, but its larger ambitions include electric vehicles. See More.