AtmosZero scores Mitsubishi investment

LOVELAND — AtmosZero Inc., a Loveland firm that has developed a new approach to industrial steam production that replaces fossil-fueled boilers with electrically powered heat pump technology, recently added Mitsubishi Heavy Industries as a strategic original equipment manufacturer investor.

“The participation of a respected global industrial equipment manufacturer supports AtmosZero’s product-based approach and commercialization path to improving efficiency, reliability, and performance in electrified industrial heat applications,” the company said in a news release. 

MHI’s “investment was made as part of a broader strategic financing led by VXI Capital, with continued participation from Engine Ventures, Constellation Technology Ventures (the corporate venture arm of Constellation Energy), Energy Impact Partners and 2150,” AtmosZero said. 

Financial terms of the fundraising effort were not disclosed. 

“Industrial competitiveness starts in the boiler room,” AtmosZero CEO Addison Stark said in the release. “Manufacturers need solutions that behave like industrial products — reliable, repeatable, and designed to integrate into existing facilities. The engagement from a leading industrial OEM reflects a shared view that electrifying steam should be delivered as a standardized product platform, not a custom project, and scaled through the same channels customers already trust.”

Prior to the recent VXI Capital-led investment round, AtmosZero had raised $28.5 million to date to commercialize its steam technology, positioning the Northern Colorado startup to scale deployments beginning in 2027.

Founded in 2022, AtmosZero is developing what it calls “boiler 2.0,” an electrified steam system designed to serve industries that rely heavily on steam, including food and beverage processing, pharmaceuticals, specialty chemicals and materials manufacturing. The company’s first pilot installation began delivering steam in 2025 at New Belgium Brewing Co. in Fort Collins.

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