247Solar, Inc, founded in 2015, is a promising startup at the forefront of the Energy, Renewable Energy, and Energy Storage industries. As an MIT spin-out, the company is innovatively addressing clean industrial process heat and baseload renewable energy needs, emphasizing its unique capacity for high-temperature solar power with overnight storage. Positioned strategically in the United States, 247Solar targets key decarbonization markets, including mines, industrial CHP, data centers, and green hydrogen.
Utilizing SPVs for financing, owning, building, and operating projects, the company ensures the delivery of zero/low-carbon heat and electricity through a PPA basis, promising round-the-clock, reliable clean energy. Over $24 million has been invested, with significant funding from the US Department of Energy. Currently, they seek to raise $25 million in a Series B capital round, backed by a pipeline exceeding $200 million in near-term projects.