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Mainspring Energy, a distributed power generation startup, gets Series D


On Tuesday, Mainspring Energy, an energy technology startup in the emerging field of onsite power generation, announced that it has received a Series D venture capital round of $95 million. The investment round was led by Devonshire Investors, the private equity firm affiliated with Fidelity Investments parent company FMR LLC, along with Princeville Capital, 40 North Ventures, and Chevron Technology Ventures. Existing investors Khosla Ventures, Bill Gates, ClearSky, AEP, KCK, and Equinor re-upped for the Series D.
The new funds will be used to accelerate the rollout of Mainspring’s core product, the Mainspring Linear Generator, to a broader range of commercial, industrial, microgrid, and utility customers, by scaling its manufacturing operations, hiring more staff, and consolidating its position in the U.S. market. To date, the company has raised $228 million in venture capital. ....

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Mainspring Energy launches its flexible fuel generator with a $150 million NextEra Energy contract – TechCrunch


Mainspring Energy launches its flexible fuel generator with a $150 million NextEra Energy contract
Mainspring Energy, the developer of a new generator technology that use fuels like biogas and hydrogen, has unveiled its Mainspring Linear Generator, with a $150 million contract with NextEra Energy Resources.
The company’s technology represents a significant step in the transition to a zero-carbon power grid, given its ability to shift between traditional natural gas sources and alternative fuel sources like biogas and hydrogen.
So far, the company’s generators are under contract with a national supermarket chain that’s using the company’s tech at 30 of its grocery stores. The company began shipping pilot units in June and will begin commercial shipments in mid-2021 according to a statement. ....

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Mainspring Energy Launches New Power Generation Technology and Announces $150 Million Agreement with NextEra Energy Resources


Mainspring Energy Launches New Power Generation Technology and Announces $150 Million Agreement with NextEra Energy Resources
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–  NEWS SUMMARY –  
The Mainspring Linear Generator at work in California, delivering fuel-flexible, resilient power, saving cost, and accelerating the transition to the net-zero carbon electric grid. For more information please visit www.mainspringenergy.com
Mainspring s Linear Generator has the capability to dynamically switch between fuels, including biogas and hydrogen.
Mainspring Energy, Inc. launches the Mainspring Linear Generator, a new low-cost, fully dispatchable, and fuel-flexible power generation technology for commercial and industrial buildings, utilities, and microgrids.
Mainspring enters into a $150 million unit purchase and project finance agreement with NextEra Energy Resources to promote deployment of Mainspring s product and advance the adoption of renewable fuels such ....

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Panorama - Mainspring Energy Signs $150 Million Agreement with NextEra Energy Resources - Renewable Energy Magazine, at the heart of clean energy journalism


The Mainspring Linear Generator at work in California
The growing mandate for a reliable, affordable, and low-carbon electric grid is driving demand for new power generation technologies that can enable greatly increased use of renewable energy while providing improved resilience against natural disasters, increased flexibility, and lower cost than the electric grid. Mainspring s breakthrough technology, based on research originally conducted by the company s co-founders in a thermodynamics laboratory at Stanford University, is designed to meet these demands by delivering dispatchable, fuel-flexible power that substantially reduces cost and carbon today, while accelerating the transition to the net-zero carbon grid.
The company also announced it has entered a $150 million agreement with NextEra Energy Resources to purchase Mainspring units and finance customer projects starting in the first half of 2021. ....

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