2024’S BIGGEST ACCOMPLISHMENTS
FUND III
Raised seed financing in April and launched installations in their pilot markets of Denver and Vancouver in October. Grew to a team of 35 people and are closing in on a $10M run rate in their 4th month since beginning commercial operations.
Had 2 US patents approved on the world’s first ever smart irrigation valve during their 2nd year in market. Closed 45 customers and 60 new vineyards, reaching 75 vineyards under management and grew revenue to $750K, 6.8X over 2023.
Conducted several rounds of lab and live network testing in partnership with Orange, one of the world's largest mobile network operators, with outstanding results that significantly accelerated commercial interest. Secured a partnership with Syntronic, a globally renowned research and development firm in telecommunications, and attracted multiple strategic investors.
Successfully launched ThinkLabs from GE Vernova, formed their core team, released MVP on AI-first dynamic planning system, and closed their first seven figure customer contract.
Developed a production-ready ecosystem of motorbikes, batteries, swap stations, and chargers from scratch that have been soft launched in East Africa with ~$4M in burn–one of the most efficient product development cycles in their industry.
FUND II
Grew annual recurring revenue 5X over a 12 month period. Introduced the first-to-market Nitrous Flux sensor system to better measure decarbonization. Doubled their customer base, attracted new customer types including CPG brands and major scientists/researchers, and expanded their install base into a dozen new crop types.
Implemented pilots and commercial treatments on 33 different species and over 70 varieties of seed for 24 customers, which has created a backlog of in-field trials with data coming in over the course of early Q1 to drive continued momentum.
Closed their Series A fundraising round and enabled the reuse of over 3.6M items in 2024 alone, equating to about half of all items reused on their platform to date.
Grew their core business by $250,000 and launched their AI agent, Arlo, enabling private lenders to collect financing documents more efficiently. Generated strong market interest for Arlo, booking over 60 demos in the second half of the year and closed the first three Arlo deals with a potential ARR of $81,000.
Brought on an exceptional CRO and signed a strategic partnership with the largest producer and distributor of vents in North America who also joined as a strategic investor.
Powered over 1.5 million green choices in 2024, from riding transit to EV charging, thrifting and residential solar. FutureCard, America’s most rewarding debit card, is now the leading fintech company rewarding a lifestyle rich with green choices that are good for the wallet and good for the planet.
Started up full-scale product manufacturing and turned a profit in their first full fiscal year of operations. On-track to ship $14M of product in the first half of 2025.
Invoiced an additional $200K ARR in Q4, which was their biggest growth quarter. Signed-up leading brands in various geographies (Hong Kong, Geneva, and more), setting the stage for accelerated growth in 2025. Improved product quality velocity, grew to 1 release per month.
Grew topline revenue by 3X without headcount additions while expanding into three new states and signing leases for solar programs at over 80 commercial properties.
Signed their largest pilot project yet to improve the quality of manufacturing decisions made by high throughput contract manufacturers, leading to more efficient costing, less error and reduced material waste.
Closed a Series A extension round and landed 25 new utility contracts, representing 80% year over year client growth.
Forged a team and culture capable of scaling world-class products before launching Othersphere Explorer for hydrogen in Q1. Demonstrated demand with 14X QoQ revenue growth as utilities and hyperscalers adopted in Q4. Preparing to launch their data center expansion early 2025.
Expanded EcoRail to all 3 of the largest shortline groups in North America (Watco, Genesee & Wyoming, and OmniTRAX), serving over 200 railroads. Streamlined onboarding from 16 months to 4 months, introduced an AI-powered tool for automating speed limit integration in seconds, and successfully tested a live and adaptable dynamic recommendation engine achieving over 10% fuel efficiency improvements in real-world conditions.
Initiated a large paid POC with an automotive OEM, unlocking a $45M near-term expansion opportunity within a $10B North American market. Expanded the sales pipeline to $350M. Secured two major battery supply agreements below forecasted cost. Achieved 15+ year equivalent battery life with data published in peer-reviewed journal coauthored with Stanford.
Successfully deployed its technology across textile businesses in over 10 countries, with their initial marketplace partnerships’ combined annual revenue exceeding $3B. Plans to scale rapidly in 2025, tripling the marketplaces it operates within, expanding the total addressable market by 10X, and capturing a share of existing GMV, setting a new industry standard and unlocking significant value across the sector.
FUND I
Increased revenue by 30% over 2023, installed and commissioned 4 BETT projects and launched their new SulfideFix solution which quickly caught the attention of Fortune 500s. Catalyzed interest from a strategic partner to lead a financing round for the business, setting them up for execution on several large awarded projects in 2025.
Closed the year strong with 300% YoY growth, having closed a six figure expansion deal with the largest apartment owner in the United States in December. Total assets under management for Audette's clients now exceed $500B.
Proved out the Frost CC technology and are now ready to move to the next stage of the commercialization process. Had a $68M grant tentatively approved by the DOE for the DAC hub business.
Saved over 9300 tCO2e by recycling 190M chopsticks to date. Launched key partnerships with brands like Steelcase, A&W, and KFC Mexico and expanded Microfactory operations to 9 countries. Earned recognition through the ARCHIDEX Star Award, Foresight 50, and top global media including Food & Wine Magazine, QSR Media, and The Straits Times.
Secured partnerships across key regions, including three wind farms in Taiwan, five in Scandinavia, 600MW of new offshore projects in Belgium, and expanded into South America. Identified ~700 GWh of potential annual energy gains (representing over US $40M) for clients. Supported major M&A transactions and life extension solutions for top renewable energy producers.
Successfully scaled their energy management product from initial commercialization to a growing market presence – the solution is now consistently saving over 10% on energy bills and reducing emissions for over 400 restaurants with 2,500+ additional locations in the pipeline.
Launched their new AI based ESG Regulatory Compliance solution targeting Global Accounting & Consulting firms, closing 4 major accounts and continuing to ramp up growth in this new segment in 2025.
Scaled digital rebates to 80% of total sales and improved gross margins by 20% by cutting out shipping expenses. Secured $1.5M in funding for artificial intelligence from the National Research Council of Canada.
Surpassed 12,000 charging stations deployed, provided 11GWh of electricity to drivers (which is more than double 2023) and completed the raise of their $31M Series B.