AtmosZero raises $21M to decarbonize steam in industrial boiler rooms

FORT COLLINS — AtmosZero Inc, a Fort Collins startup that is developing a process for decarbonizing industrial boilers, recently raised a $21 million Series A round.

The round was led by 2150 UK Limited and Engine Ventures, AtmosZero said in a news release, with participation from existing investors such as Energy Impact Partners and Starlight Ventures.

AtmosZero has developed a modular electrified boiler to replace fossil-fueled industrial boiler systems. The company says its technology uses as little as half of the electricity as traditional boilers and can decarbonize steam processing for food-and-beverage production, chemical manufacturing, and other industries.

“The path to net-zero emissions runs through the boiler room and requires the replacement of existing fossil-based systems,” Engine Ventures general partner Michael Kearney said in the release. “Reducing reliance on fossil fuels isn’t just an environmental imperative — it’s a geopolitical one, too. We are thrilled to support the AtmosZero team’s mission to decarbonize industrial emissions with its scalable, drop-in electrified solution.”

The Series A investment, along with a $3.2 million grant from the U.S. Department of Energy’s Industrial Efficiency and Decarbonization Office, will help the company develop a pilot project at New Belgium Brewing Co. in Fort Collins and launch a European subsidiary, AtmosZero Europe BV, based in Amsterdam.

AtmosZero’s pilot project at New Belgium’s Fort Collins headquarters will demonstrate a 650-kW thermal electrified boiler. AtmosZero and New Belgium will work with Fort Collins Utilities, which plans to deliver 100% renewable electricity to the brewery by 2030, to evaluate, plan and upgrade the electrical systems at the brewing facility.

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