Energy Foundry is a venture capital firm founded in Chicago in 2012 that invests in early-stage startups in the energy and cleantech sectors. Over more than a decade, it has built a portfolio of companies tackling energy efficiency, grid optimization, resource management and sustainable practices. The firm has achieved recognition among the top six energy investors in the United States and the top twenty worldwide. In 2024, Energy Foundry’s investment activities shifted to Earth Foundry, a new platform that now manages all of its prior commitments.
Investments range from seed rounds through early growth stages, with typical funding of five to ten million dollars per round. Energy Foundry provides more than capital, offering strategic support through partnerships with leading energy companies and access to technical expertise. Backing comes from an evergreen fund model that reinvests returns to support future companies. Portfolio sectors include mobility, water management, waste recycling and agricultural technology, all connected by a focus on scalable solutions that address energy challenges and drive long-term performance improvements.
Clean technology has been a central theme in the firm’s portfolio, with a strong record in battery innovation. Nanograf (former SiNode Systems) is one example: the Chicago-based startup develops a silicon-graphene anode material that improves energy density and charging speed. In 2023, the firm supported NxLite’s seed round and backed Huue, which produces sustainable dye alternatives, while an earlier investment in Azumo targeted energy-efficient display panels. Energy Foundry often collaborates with universities and national laboratories to guide research toward market-ready products, helping startups transition from lab prototypes to commercial offerings.
