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On Tuesday, September 3rd, ClimateHaven member team Oxylus Energy announced the close of the company’s $4.5 million Series Seed round co-led by Toyota Ventures and Azolla Ventures, with additional funding by Earth Foundry and Connecticut Innovations. The company was founded by Yale graduates Perry Bakas, Harrison Meyer, and Conor Rooney and its core technology was developed in Yale's green chemistry labs. At the heart of their innovation is a catalyst designed for the low-temperature, low-pressure electrochemical conversion of carbon dioxide into green methanol. This method, rooted in sustainable chemistry principles, offers a cost-effective, hydrogen-free way to produce fuel for decarbonizing industries like aviation and shipping.
In this interview between Harrison Meyer, COO of Oxylus, and Haley Lieberman of ClimateHaven, Meyers shares how his lab partners at Yale transitioned their bench-top green chemistry research into a venture-backable startup.
For the full transcript and lightning-round of questions, read here.
Haley Lieberman (HL): Congratulations on your raise, and on your recent exclusive in TechCrunch. You've had significant traction in a short period of time. What challenges has your team faced transitioning lab-based technology to commercial markets?
Harrison Meyer (HM): Taking a technology from “bench-top” to commercial scale requires a good deal of proof points. How can we illustrate that the technology can scale? What are the barriers at scale and how can they be overcome? Is this financeable, and ultimately can this team take it all the way? This requires a “marriage” of physical sciences, engineering, finance, and business development to create a product based off lab research.
HL: How did you overcome these challenges – and how are you still managing that transition?
HM: By putting one step forward at a time. Taking this from “bench” to “commercial & industrial scale” requires a multi-step process with different types of risk. We are focusing on initial scientific risk, and then engineering risk, then manufacturing and deployment risk, and finally, bankability.
HL: The “one-step-at-a-time” approach to startup-scaling requires runway, capital, and patience – not only on the part of the team, but for investors. What advice do you have for climate tech investors?
HM: It is fundamentally hard to diligence for hard-tech. Investors focusing on technologies, markets, and teams that meet the scale of the climate crisis should also focus on strong fundamentals in engineering, physical sciences, operations, and finance.
HL: What should climate tech founders know about fundraising for a lab-based technology?
HM: It was key for investors to review our technoeconomic assessment (TEA) to understand the value of our technology and how it can compete (and win) the market in the future.
HL: Lightening round on going from "bench-top" to backable. What’s the one thing you want to share with… FULL INTERVIEW
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Thanks to your votes, ClimateHaven is a finalist for "Startup Supporter of the Year" and "Partnership of the Year" at the Green Future Gala hosted by the Northeast Clean Energy Council (NECEC). Thank you!
Our team will be attending the gala on the 19th of September in Boston. See you there?
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Startup Announcements
Impact3D has successfully completed the first phase of small-scale prototype construction after a summer R&D sprint, with final refinements and testing underway. This prototype will be used to demonstrate their gantry-less construction 3D printing technology, one step on their journey to creating sustainable, affordable housing for those experiencing housing insecurity.
Mudder AI was awarded a $100,000 grant from Yale Planetary Solutions for research and development of AI-REFIRE. In this project, researchers will build an AI platform that covers the spectrum of wildfire management by bringing together multiple types of data—from satellite imagery to terrain models, social media to weather maps. AI-REFIRE will create forecasts, advise on resource allocation during fire responses, and help plan rebuilds.
Oxylus Energy announced the closing of their oversubscribed Series Seed round of $4.5M from leading climate, energy, and strategic investors across the globe, along with U.S. state support. Read more here.
ReVert has expanded their network introducing new Acorn Plugs to Colby College. These Acorns will boost energy sustainability and help maintain Colby as carbon-neutral university. They have also partnered up with Ithaca College reach to help them reach their goal of carbon neutrality by 2050.
VIRV is sponsoring the Innovation Zone at the GSE Expo Europe. They will be presenting their work in the electrification of ground support equipment (eGSE) at airports in the US and around the world.
EDGE Club Meetup at ClimateHaven, September 5
START in New Haven Pitch Night, September 19
NYC Climate Week, September 22-29
Yale Clean Energy Conference, October 10-11
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For the love of the planet,
Haley and the ClimateHaven Team
Haley Lieberman
Interim Co-CEO, Dir. of Community and Marketing
