Quarterly Newsletter
From the Boiler Room
Interest in industrial decarbonization has continued to pick up steam throughout the year, as it has enormous potential across a wide range of industries, from food and beverage to pharmaceuticals and chemicals and beyond. At AtmosZero, we remain exclusively focused on delivering a scalable heat pump boiler to the market to solve the challenge of electrifying industrial steam.
I am extremely proud of our team and the hard work and commitment that has gone into completely reimagining the boiler room. Our accomplishments this year are a testament to a singular focus and unity on our shared vision and ambition for the future.
Reflecting on 2024
In February, we closed a $21 million Series A round — one of Colorado’s largest funding announcements of the first quarter of the year — co-led by visionary investors Engine Ventures and 2150. We also welcomed Constellation Technology Ventures, the investment arm of Constellation Energy, as an investor and strategic partner. This investment has helped accelerate our mission to decarbonize industrial steam production by ramping up our new manufacturing facility in Loveland and expanding our expert team.
We were also awarded a $3.2 million grant from the U.S. Department of Energy’s Industrial Efficiency and Decarbonization Office (IEDO) to support continued product development and a deployment project with a global chemicals company.
This success has earned AtmosZero:
BizWest’s Technology IQ Award, recognizing our cutting-edge approach to transforming industrial steam production.
A finalist spot for the Empire Tech Prize, a $10 million program aimed at decarbonizing New York’s commercial and multifamily buildings.
Third place at the Fall 2024 EPIC Startup Pitch Competition hosted by the U.S. Department of Energy’s Office of Technology Transitions.
Expanding into key markets
Our partnership with New Belgium Brewing has continued to grow, and we are on track to have our Boiler 2.0 technology running in NBB’s Fort Collins facility by the end of the first quarter of 2025. Beyond food and beverage, we have continued to make inroads with customers in multiple verticals who are looking for a scalable and efficient solution for their operations. Stay tuned for more exciting customer announcements in the new year!
Creating a Colorado Energy Innovation Hub
We are proudly based in Northern Colorado and are committed to working across the state to help shape Colorado’s energy future. Earlier this year, we participated in the Colorado Energy Office’s Roadmap 2.0 for Decarbonization, which aims to reduce emissions across the state’s core industries. Our discussions with Colorado Governor Jared Polis and the offices of Senators Hickenlooper and Bennett have emphasized the role of innovative technologies in making Colorado a leader in energy, manufacturing, and innovation.
Growing our team with top talent
As we expand our presence and capabilities in both the US and EU this year, we also welcomed Michael Schwartz to our Board of Directors. Michael brings decades of leadership in the HVAC industry, and his expertise will be instrumental as we continue to innovate and grow.
Looking ahead to 2025
Electrifying the boiler room represents a transformative, long-term opportunity, and at AtmosZero, we have always driven forward without relying on federal subsidies to ensure the profitability of our projects or business. We are focused on scaling our Boiler 2.0 technology and getting it into the hands of our customers as quickly as possible. Working alongside our partners, customers, and investors, we will continue to revolutionize the boiler room — giving it the biggest transformation since Babcock & Wilcox first productized the combustion boiler nearly 160 years ago.
Stay tuned for more exciting updates from the Boiler Room!
Full Steam Ahead,
Addison Stark
AtmosZero CEO
