ClearFlame secures $17 million in financing
GENEVA -- ClearFlame Engine Technologies, a startup dedicated to the development of net-zero engine technology, said it has secured $17 million in financing that will enable commercialization of its diesel engine technology.
The financing was led by Breakthrough Energy Ventures with participation from Mercuria, John Deere and Clean Energy Ventures, the company said.
ClearFlame's engine technology is being developed for the long-haul trucking, agriculture and power generation sectors. The company's technology enables low carbon, renewable fuels such as ethanol to be easily integrated into existing diesel engine platforms, offering a lower-emission, lower-cost solution than diesel fuel alone.
"Our technology will enable the rapid decarbonization of diesel-dominated sectors, and this funding advances our path to commercialization with demonstration trucks on the road by the end of this year, in parallel with agricultural equipment and generator set deployments in 2022," said BJ Johnson, ClearFlame CEO and co-founder.