florrent’s patented process produces a supercapacitor activated carbon that has the potential to disrupt power quality and reliability (PQR) markets
FOR IMMEDIATE RELEASE
Amherst, Mass. (August 12, 2024) – florrent, Inc., a Massachusetts-based company developing a material innovation that enables breakthrough performance improvement in supercapacitor technologies, announced today the successful closing of $3.6M in Seed funding led by MassVentures in addition to over $650k in recent grant awards. This funding will accelerate florrent’s ability to unlock new market opportunities for supercapacitors, where other storage media—particularly lead acid batteries— are still deployed, using biomass waste sourced domestically from BIPOC communities.
In addition to MassVentures, the Seed funding includes investment from Raven Indigenous Capital Partners, MassMutual Catalyst Fund, Boston Impact Initiative, Maroon Venture Partners Fund, Collab Fund, Elbezius, and The Sky Foundation. This equity investment is also complemented by non-dilutive grant funding from MassCEC, Activate, and others to be announced.
“We are thrilled to continue our partnership with florrent as they revolutionize the UPS/PQR markets with their innovative supercapacitors. Their commitment to sustainability and exceptional vision align perfectly with our investment philosophy. Our investment underscores our confidence in their talented team and the immense growth opportunities ahead. We look forward to continuing supporting florrent on their exciting journey.” Priya Yadav, Vice President, Investments, MassVentures.
florrent’s patented process increases energy density by over 50%, allowing their supercapacitors to address the growing momentary outage problem that causes billions of dollars in business losses annually and deliver stabilizing power for extended periods. The extension of power delivery improves the resiliency of critical electrical and grid infrastructure, especially as our energy landscape becomes more unstable.
“florrent’s supercapacitor solution is poised to disrupt the short-duration uninterruptible power supply (UPS) and power quality and reliability (PQR) markets, beating the incumbent legacy solution, lead-acid (PbA) batteries by saving up to 60% on total cost of ownership and footprint while also lowering initial cost,” says florrent’s Co-Founder and CEO, Jose LaSalle.
By sourcing waste biomass as a primary feedstock from BIPOC communities in the U.S., florrent not only creates a sustainable domestic supply chain, it also generates economic flow to historically marginalized communities and promotes environmental equity. This positions florrent to be at the forefront of the just energy transition and supports florrent’s primary mission, which is to build a profitable business that’s economically sustainable, is built upon an innovative technology, and contributes to the well-being of people and the planet.
The $3.6M funding will be directed towards scaling florrent’s activated carbon production facilities in Western Massachusetts, allowing florrent to expand its team and invest in essential capital expenditures, fostering economic development and attracting more talent to their headquarters in the Pioneer Valley. florrent’s well-appointed facilities includes a 5,500 sq. ft. pilot-scale production facility in South Deerfield, MA, which is already permitted for operations related to activated carbon production. Additionally, florrent operates a lab space at the University of Massachusetts Amherst Core Facilities for key R&D activities, providing access to cutting-edge academic resources, as well as a 5,000 sq. ft. lab + office facility in Sunderland, MA.
florrent’s Seed round builds off of a successful $2.1M Pre-Seed closed in 2023 and is a result of the continued support of their ecosystem consisting of existing investors, friends and family, consultants and advisors, and commercial partners, of whom there are many, including: Greentown Labs, Cleantech Open / NECEC, Browning the Greenspace, Innoventure Labs, UMass Amherst Institute for Applied Life Sciences, and FORGE.
Over the next 24 months, florrent plans to complete customer proof-of-concept testing with their cylindrical cell and module products to validate their innovation’s techno-economics with customers primed for commercial offtake in high-volume markets during their Series A phase. florrent will also use the Seed funding to complete rigorous environmental testing and prove integration into customer solutions. Through these milestones, the company will be able to further its scale and the impact associated with it; opening new market whitespace for supercapacitors as a class of energy storage devices, all while valorizing agricultural waste streams and providing a better-performing product without charging a green premium.
For more information about florrent and their groundbreaking work, please visit www.florrent.com or contact outreach@florrent.com.
About florrent, Inc.
florrent is a minority-led, Massachusetts-based company innovating to create the next generation of high energy density supercapacitors. florrent supercapacitors provide power quality and reliability to commercial, industrial, and grid sectors at a lower initial cost and lower total cost of ownership compared to incumbent technologies (lead-acid and lithium-ion batteries), while building a business that valorizes agricultural waste streams and provides economic flow to underrepresented communities in their supply chain.
About MassVentures
MassVentures is the Commonwealth’s strategic venture capital team. MassVentures finds, funds, and fosters early-stage deep tech that fuels economic growth across the Commonwealth. www.mass-ventures.com
Media Contact:
Joe Hastry
Co-Founder, Director of Finance & Operations
(617) 688-4103
Pictured below: The gloveboxes/dry room facility and slot-die R2R coating facility within the Collaboratories on the UMass Amherst campus, an SEM image of florrent’s Contoured Carbon™, and florrent’s new 5000 sq ft lab + office facility in Sunderland, MA
