MAY 2024 UPDATES

FUND III

Onboarded a leader for their installations team and signed up first customers to pilot heat pump installations in Vancouver over the coming 8 weeks.

Closed seven new logos, including a new enterprise customer that could expand to 17,000 acres.

FUND II

Added another $86k in new deals with Texas A&M, Texas Tech and Bonterra Organic Estates. Expanded into new crops including sorghum and cotton.

Secured verbal commitments from Aerofarms and Sandiatech for service contracts, representing $300K ARR at scale with first delivery of stock in June. Kicked off R&D engagement with BASF Nunhems, a major vegetable seed company in Holland. Won the agriculture category of Fast Company's World Changing Ideas Awards.

Signed two net new customers and launched their first box reuse customer.

Successfully financed two clean energy deals totaling $233,027.50, one of which was through the acquisition of LED.Finance finalized last month.

Released their new Bridge Product which helped to enable their strongest month of the year representing 15% YoY growth.

Surpassed $2M revenue run rate. Built out their enterprise sales channels and started to showcase measurable uplift for sustainable brands–a fast-casual chain reported a 49% uptick in order volumes during a 10-week co-promotion with Future.

Signed a strategic partnership with Chart Industries (NYSE:GTLS) focused on the co-selling of Hyfluence refueling systems, exclusive supply of proprietary enabling technology to Hyfluence, and future joint development activities.

Got approval on $180K in quotes which represents a close rate of over 60%.

Launched multiple sites this month. Spent a day at the National Renewable Energy Laboratory in Colorado, discussing the future of solar, storage, virtual power plants and autonomous energy systems.

In days, created a mock up of a new app-based process flow for orthopedic insert measurement and design that typically takes a year.

Launched a new pilot program with BC Hydro and grew their Puget Sound Energy program 50%, making it the largest program on their platform.

Signed their first customer and attended a large hydrogen trade show in Rotterdam where reactions from project developers, financiers, and offtakers were very positive.

Increased sell-through success in their partner channels. Ran their first Australian webinar with their partner Avetta and had 200+ people sign up. Surpassed 10k LinkedIn followers.

Brandon Moak (former CTO & Co-Founder at Embark Trucks) joined as an Autonomy and Data Science Advisor. Received approval to move another customer, Genesee Valley Transportation Co, into Trip Mode.

Successfully sold a 5th battery energy storage system unit to a new customer. Published a study with Stanford demonstrating a 20-30 year lifespan for their second-life batteries–3-4X longer than any other reuse technology.

Officially announced the upcoming activation of AITE's (Official Ecuadorian Textile Association) platform that will regroup more than 90% of the industry's market during their 80th anniversary in Quito Ecuador. Tengiva became a member of the International Apparel Federation & attended the Americas Apparel Producers' Network Americas Annual Conference.

FUND I

Hired an exceptional project engineer to support continued execution on signed projects.

Signed a pilot engagement with the largest multi-family property developer in the United States. Passed technical diligence for a strategic partnership with a top 3 global property management firm, demonstrating an ability to replicate traditional results with 1% time and 5% cost.

FrostCC™, the first cryogenic capture system in operation at the National Carbon Capture Center, has reached over 900 hours of successful demonstration.

Launched introduction of Steelcase collaboration. Exhibited at A&W’s San Diego Convention, now having their new furniture solutions deployed in all provinces from coast to coast.

Expansion of two key North American clients: one large scale renewable energy utility corporation added 1,169 MW of wind and solar assets to Clir Portfolio, while a renewable energy investment firm added a 108 MW solar portfolio to Clir Portfolio.

Closed their largest energy customer to date, a franchise with 102 locations nationally.

Secured $1M in debt financing to support further hub expansion across Tanzania. 

Closed one Credit Union and one Canadian Regulator. Progressed 6 additional deals to commit that are set to close in June.

Added two new sales people to boost revenue growth. Achieved new record revenue in their Office channel and began to see growth in the Food Service channel.

Restructured the organization to maintain positive cashflow.

Helped one of their customers achieve 1720% in sales growth from insights gained through Social Nature.

Surpassed 11,000 chargers sold and secured an Exelon RFP for over 800 chargers.