ClearFlame Engine Technologies, a cleantech firm, revealed that it had raised $30 million in funding to help it bring to market solutions for heavy-duty power engines with renewable fuels.
ClearFlame, based in Chicago, developed patented technology that allows heavy-duty diesel engines to run on cleaner-burning renewable liquid fuels. While the company’s first focus is on trucking, it is also looking into collaborations and uses for its solutions in the mining, agriculture, and power-generating sectors.
ClearFlame claims it is piloting 5 vehicles with some of North America’s leading fleet operators. According to the business, its technology can provide the same power, durability, and performance as diesel engines while integrating into current manufacturing, fueling, maintenance, and repair ecosystems.
Mercuria Energy Group led the Series B capital round, including current investor Breakthrough Energy Ventures, which led ClearFlame’s $17 million Series A financing in 2021. Rio Tinto and Copec’s strategic venture arm, WIND Ventures, were among the other investors in the current round.