Heliogen Raises $108 Million to Advance Renewable Energy Technology

Heliogen, the renewable energy technology company unlocking the power of sunlight to replace fossil fuels, announced that it has raised $108 million in two funding rounds to accelerate the global deployment of its Sunlight Refinery™, a turnkey concentrated solar energy system that aims to make carbon-free energy for high-temperature heat, power, and green hydrogen accessible and more cost-effective than fossil fuels for the first time.

The company recently closed $83 million in funding, an oversubscribed round that is in addition to $25 million raised in the previous round. Among the new investors in Heliogen are ArcelorMittal, the world’s leading steel and mining company (NYSE: MT), Edison International, breakthrough scientific startup-focused venture capital firm Prime Movers Lab, Canada-based privately held venture capital fund Ocgrow Ventures, A.T. Gekko, a private investment group specializing in ESG Venture Capital, private investment partnership of industry-leading families 8090 Partners, Gordon Crawford, and technology, consumer, and media-focused investor Rashaun Williams.

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