april 2024 UPDATES
FUND III
Signed a term sheet to acquire a competitor that would bolster the experience on the exec team, accelerate their software build and add 100s of completed installations.
FUND II
Approaching $900k of ARR, including deals with Bowles Farming and Kraft-Heinz for regenerative trials in new crop types and with natural food leader, OFI.
Their latest machine is operating at 90% uptime, enabling 500 lbs per week of throughput. As a result, they’ve surpassed Q1 ARR targets by 5X. On track to have 10 machines operational by end of Q4, with capacity to generate $1M ARR in Q1 2025.
Have now resold over 5M waste-stream bound items (over 4M in the past 15 months). The procurement platform is live with 4 customers, who are ordering new and used inventory with Dispatch Goods as their packaging supplier.
Finalized the acquisition of LED.Finance, which expands their commercial financing experience and adds significant value to their funder portfolio, including funders that provide 10-year or greater terms for solar projects.
Completed tooling for their Bridge product for contractors, which will solve key connectivity challenges and is set to begin selling in May.
Grew purchase volumes 45% from the prior month. Added over 6000 members and signed two Fortune 500 companies to expand employee rewards programs.
Announced the contracted sale of two heavy-duty refuelling stations to Avina in Southern California, and moved into their new 25,000 s.f. manufacturing facility in Burnaby, BC.
$200,000 in quotes sent and an additional $100,000 in opportunities. GTM strategy is almost complete, with 2 clear customer profiles, and released a new feature for AI assisted document analysis.
Brought 8 additional solar programs to mechanical completion and launched their first battery systems deployment to complement their commercial solar offering.
Created a demonstration application that compresses ~1 year of development time into 3 days, making it easier for manufacturers to commercialize their innovations with 3D printing.
Thermostat users grew 20% over last month, verbally awarded their largest EV deal to date with a utility.
Began trials with two Fortune 500 companies that could convert to $300K of ARR if successful. Added a breakthrough AI-based electrolyzer optimizer product feature based on market demand.
Received multiple term sheets on their financing, and have strong sell-through interest from their largest channel partner who has dedicated resources to support.
VIA Rail ran an internal audit that demonstrated 8% fuel savings. G&W moved into fuel savings mode and immediately achieved a 1-2% reduction with minimal initial prompts, targeting an overall savings of 10-12%.
Started receiving batteries at scale from one of North America's largest battery supply chain partners.
Merchant onboarding via Tengiva’s white-labelled marketplace clients exceeded the initial projections. In one case, they reached the objective 4 months in advance, and the second exceeded the objective by 250%.
FUND I
Received a new PO from Niagara Bottling for a $136k capex project to expand on Temple, TX project.
Started pilots with 5 different customers, each with over $1B in revenue or AUM.
Announced submission of a Class VI injection well permit application to the EPA region 7 office, the first in Nebraska, which is their second Class VI well permit application.
Announced the closing of a $15M growth financing round that allows expansion to Japan to grow their global network of franchises and customers.
Assisted a large offshore wind farm for a large sale transaction, with the client acknowledging that the leveraging of Clir data and insights was instrumental in closing the deal.
Successfully expanded a McDonalds franchise to 37 active locations. Closed their largest pilot contract to date with Dutch Bros coffee chain, a $1.1M ARR expansion opportunity with 600 available locations.
Launched a new battery product capable of powering large appliances including fridges to provide a complete home energy solution and recorded an all-time high in users and monthly revenue.
Released a new version of their AI powered disclosure review. Their AI assessment is now officially better than a human! Continued to enhance the platform, incorporating the SEC proposed rules along with AI summarized insights on company actions.
Added 80 new food service accounts through a distribution partnership with Flow Water.
Signed CSE Net as a new enterprise customer.
Achieved 55% rebate redemption with their new digital rebate solution, which is more than double the industry standard and indicates strong community adoption. Recognized for the 3rd year in a row as a Great Place to Work.
Completed the final closing of their $27.2M USD Series B financing led by Blue Earth Capital, which positions the company well for aggressive growth in 2024.