Activate Updates: September 2024

Activate Updates

Sep 19

September is one of our biggest months here at Activate. It’s when we open applications for the Activate Fellowship and look for the most promising science entrepreneurs to join our next cohort. (Know someone? Nominate them!) It’s also time for Climate Week NYC, which gets bigger every year, and is one of our favorite opportunities to show hard-tech innovation in action.

We’ve also had some great surprises. Activate Fellows have officially surpassed $3B in total follow-on funding, thanks to some major fellow funding wins (more on that below). Also, our very own Cody Finke (Brimstone, Cohort 2019, Cyclotron Road) appears in the new Netflix documentary series What’s Next? The Future with Bill Gates. How cool is that?

Read on for more exciting news from the Activate community!

APPLICATIONS OPEN FOR COHORT 2025

Once again, Activate is seeking visionary scientists and engineers to build their startups and tackle global challenges with the Activate Fellowship. Applications for Cohort 2025 are now open. The deadline to apply is October 23.

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The Science Entrepreneurs Behind Our $3B+ Milestone

Activate Fellows have surpassed $3B in follow-on funding, a milestone that signifies strong validation for science entrepreneurship from government, investors, and industry. As we celebrate impressive funding milestones, we recognize that what really drives progress is the vision, perseverance, and commitment of our fellows.

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Ocean Tech is Making Waves for Climate Action

Ocean technology is gaining momentum as a key area in climate tech. This diverse emerging sector encompasses everything from ocean-based renewable energy, to low-carbon ocean-based protein, to ocean-based transport, to carbon storage in the seabed, and more. It is an expanding area of focus for Activate as well.

Congratulations ‘35 Under 35’

We’re proud to have six Activate Fellows recognized as 35 Innovators Under 35 by MIT Technology Review. These amazing innovators exemplify what it means to be an Activate Fellow as they lead entire industries and approach our toughest challenges in bold new ways.

Twelve Announces The Close of $645M in Funding

Twelve (Etosha Cave and Kendra Kuhl, Cohort 2015, Cyclotron Road) has secured a monumental $645M in funding. Through a mix of project equity, venture funding, and credit facilities, this capital—now valuing the company at over $1B—shows great confidence in the future of sustainable aviation fuels. This new funding will accelerate the deployment of Twelve’s commercial plants.

Fervo Energy Announces Major Milestone

Earlier this month, Fervo Energy (Tim Latimer and Jack Norbeck, Cohort 2018, Cyclotron Road) announced that it received a $100M bridge loan that will support the first phase of construction of Fervo’s Cape Station project, which is being called the largest geothermal plant in the world, set to generate 400 megawatts of clean energy by 2028.

Calectra Raises $2M

Calectra (Pauliina Meskanen and Nate Weger, Cohort 2024, Cyclotron Road) raised $2M in funding to continue developing its power-to-heat thermal storage technology. The company has received fantastic media coverage of its work to decarbonize industrial heat, including the development of “electrified bricks,” in both Canary Media and Axios.

In Our Ecosystem

Upcoming events, relevant opportunities, and what we're reading.

Upcoming Events

For the third year, Activate will spotlight the role of hard-tech innovations and entrepreneurship during Climate Week NYC. Our Hard Tech Showcase on Tuesday, September 24 convenes the New York deep-tech climate community and spotlights new pathways for decarbonization, featuring over 40 entrepreneurs and a keynote by Dr. Evelyn Wang, Director of ARPA-E. This event is co-hosted with ARPA-E, DCVC, Foley Hoag LLP, Mercury, Orion Resource Partners, and Uptake Alliance and has additional support from Breakthrough Energy, Urban Future Lab, and Newlab. See the full list of events Activate is supporting at Climate Week NYC.
VERGE 24, happening October 29-31 in San Jose, CA, is the center of gravity for professionals deploying climate tech at scale. Join us and over 6,000 sustainability professionals to explore emerging trends, take stock of new technologies, and work to accelerate the speed and scale of impact.

Relevant Opportunities

The Hello Tomorrow Global Challenge has opened applications for its 10th edition. This is a world-renowned competition designed to unearth early-stage startups that are developing cutting-edge, ‘deep’ technologies to tackle worldwide challenges. Selected participants will have the chance to win equity-free prize money of up to €100K, customized coaching sessions, and personal introductions with investors and corporates. They also get access to a dedicated Investor Day for 1-on-1 meetings with investors on March 12, 2025, as well as opportunities to pitch and showcase in front of an exclusive audience of investors and industry leaders at the annual Hello Tomorrow Global Summit, the biggest gathering of the deep-tech ecosystem, which will be held on March 13-14, 2025, in Paris. Applications are now open until September 22.

In the News

Rice University wrote about the Activate Fellowship and the four Rice-affiliated fellows in the Activate Houston Community’s inaugural cohort, saying “Activate fellows ‘embody the best of Rice entrepreneurship.’”
Etosha Cave (Twelve, Cohort 2015) will be a speaker at the Newsweek conference, Pillars of the Green Transition, at Climate Week NYC.
Brendan Hermalyn (Thalo Labs, Cohort 2021) was named to the Grist 50 list, which recognizes leaders tackling our most pressing climate issues. Hermalyn is building a ‘check engine light’ for efficient buildings—including the Empire State Building.
In addition to its funding news, Fervo Energy (Tim Latimer and Jack Norbeck, Cohort 2018) published well testing and drilling performance data from its Project Cape site in Utah, reporting significant strides in its next-generation geothermal technology. According to Norbeck, Fervo tripled production relative to its commercial pilot results while lowering drilling costs by up to 70 percent.
SixLine Semiconductor (Katy Jinkins, Cohort 2023) won the 11th annual Pressure Chamber Competition, a Greater Madison Chamber of Commerce event highlighting startups solving global challenges. Sixline Semiconductor stood out for its innovative material developments for next-generation electronics.
Gradient (Vince Romanin, Cohort 2017) won the grand prize in the Consortium for Energy Efficiency Integrated Home Competition for its All-Weather 120V™ window heat pump.