Chicago-based ClearFlame Engine Technologies has recently raised $30 million in Series B funding to develop and bring to market innovative solutions for powering heavy-duty engines with clean, renewable fuels. The funding round was led by Mercuria Energy Group, with Mercuria and Breakthrough Energy Ventures both making second investments, along with new investors such as mining corporation Rio Tinto and WIND Ventures. ClearFlame’s patented technology can efficiently adapt to markets like long-haul trucking, offering the same power, durability and performance as today’s diesel engines while readily integrating into existing manufacturing, fueling, maintenance, and repair ecosystems.
ClearFlame’s technology uses a range of renewable liquid fuels, offering a cutting-edge solution for decarbonizing the heavy-duty industry. The company is currently piloting five trucks in collaboration with some of the largest fleet operators in North America, exploring partnerships and applications for the mining, agriculture, and power generation sectors. ClearFlame’s technology can meet heavy-duty performance requirements while offering better lifecycle greenhouse gas emissions reduction than EV by nearly 61% using low-soot renewable fuels. A total cost of ownership study found that using ClearFlame engines would reduce lifetime ownership costs for fleet operators.
The diesel engine is the backbone of heavy industry, and its advantages make it hard for clean alternatives to compete. ClearFlame has pulled together a new generation of entrepreneurs and veteran engineering talent that have unlocked a viable, cutting-edge solution. The company’s strategic investors believe that ClearFlame’s technology can economically decarbonize the heavy-duty industry by utilizing the existing liquid fueling infrastructure.
ClearFlame’s CEO and co-founder, BJ Johnson, said, “Federal Department of Energy funding moved us from concept to patent. Series A funding propelled us from patent to pilot. This latest investment round can accelerate us from pilot to proven product in multiple markets, starting with long-haul trucks.” ClearFlame has been recognized as “Next Big Thing in Tech” by Fast Company, as one of the “Most Promising Sustainability Startups in Transportation by top venture capitalists (VCs)” according to Business Insider, and one of the “3 Truck Trends to Watch for in 2023” by Heavy Duty Trucking.
ClearFlame’s technology is a step towards a sustainable, clean energy and fossil-free future, as it offers better lifecycle greenhouse gas emissions reduction than EV and reduces lifetime ownership costs for fleet operators. The company’s innovative solutions for powering heavy-duty engines with clean, renewable fuels can contribute to the global effort to mitigate climate change and achieve carbon reduction goals by freeing heavy-duty diesel engines from their reliance on fossil fuels. ClearFlame’s recent funding round will help accelerate the company’s growth and expansion into multiple markets, starting with long-haul trucks.