What is Fortera?
Fortera is a Los Gatos, California-based company dedicated to addressing industrial carbon emissions. The company specializes in capturing carbon dioxide directly from stationary sources, such as power plants and cement facilities. Its proprietary technology then permanently converts this captured CO2 into stable mineral forms. The ultimate objective of Fortera's operations is the development of valuable commercial products, including cementitious materials, derived from the sequestered carbon dioxide, thereby creating a circular economy for industrial emissions.
How much funding has Fortera raised?
Fortera has raised a total of $130.8M across 5 funding rounds:
Unspecified
$15M
Unspecified
$19.9M
Unspecified
$10.6M
Debt
$350K
Series C
$85M
Unspecified (2010): $15M with participation from Peabody Energy
Unspecified (2010): $19.9M led by U.S. Department of Energy
Unspecified (2011): $10.6M, investors not publicly disclosed
Debt (2020): $350K featuring PPP
Series C (2024): $85M backed by Temasek and Khosla Ventures
Key Investors in Fortera
Temasek
Temasek is a global investment company founded in 1974 and headquartered in Singapore, known for its generational investment approach focused on making a positive impact with a long-term perspective.
Khosla Ventures
Khosla Ventures is a prominent venture capital firm that invests in technology companies, often focusing on disruptive innovations and early-stage ventures.
U.S. Department of Energy
The U.S. Department of Energy is a federal agency responsible for energy policy and national security, supporting advancements in energy technologies and managing critical infrastructure.
What's next for Fortera?
With the recent Series C financing and a substantial total funding amount of $130.9M, Fortera is poised for significant expansion and technological advancement. The major strategic investment suggests a focus on scaling operations, enhancing its carbon conversion processes, and potentially broadening its product portfolio. Future developments are likely to involve increased deployment of its CO2 capture technology at large industrial emitters and the commercialization of its mineralized carbon products. This strategic capital infusion will enable Fortera to solidify its market position and contribute meaningfully to global decarbonization efforts.
See full Fortera company page
