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Frontline Wildfire Defense, a San Francisco-based startup, raised $6.4 million in seed funding, the company exclusively tells Megan.

Why it matters: Wildfire technology is a growing area of interest for climate investors, some of which have seen the affect of larger and stronger fires firsthand.

Details: Echelon led the round, which was primarily debt financing, Frontline CEO Harry Statter tells Megan. Echelon received a board seat in the deal.

How it works: Frontline makes an app for homeowners or business owners to track nearby wildfires using a network of satellite and publicly available cameras.

It also makes a smart sprinkler system that can be remotely activated to defend structures from nearby flames.

The sprinkler system starts around $30,000, including installation, for an average-size building on an average-size lot, Statter says.

Frontline works with insurance companies by providing its wildfire data for underwriting purposes as well. Frontline also offers insurers app access that can be shared with insurance policy holders.

State of play: Investors out West are some of the most vocal proponents of the growing fire-tech sector due to their experience with recent fires in California, Oregon and Washington.

Convective Capital, an early-stage firm formed by venture capitalist Bill Clerico, only invests in wildfire tech. Clerico started the firm after his California property was directly threatened by a wildfire.

Xprize, a California-based nonprofit that holds international startup contests, unveiled an $11 million wildfire-tech competition Friday.

What we're watching: Frontline is actively pursuing an all-equity Series A fundraise, Statter says. He declined to share the round's target size.

Wildfire defense startup raises $6.4M seed round

1 big thing: Wildfire defense funding

The Fairview Fire near Hemet, California, in Riverside County on September 7, 2022. Photo: Patrick  Fallon AFP via Getty Images

KKR and Brookfield are investing big money to expand clean energy in India, Alan reports.

Why it's the BFD: India is seeing breakneck demand for electricity. Green power that can keep pace can't come soon enough.

The latest: KKR this morning announced it's investing $250 million in Serentica Renewables, an energy-management firm that incorporates green power for commercial and industrial clients.

KKR invested $400 million in the New Delhi-based company last November.

Meanwhile, Brookfield Renewable, a unit of the investment management group, said last week it would invest $1 billion in renewables developer Avaada Group.

Brookfield's investment is aimed at expanding Avaada's green hydrogen and solar-module production capacity, as well as ammonia and hydrogen investments that are especially suited to industrial sectors, per PV Tech.

Be smart: The Indian market is rapidly expanding, with no end to energy demand anywhere in sight. And unlike the U.S. and its ongoing trade disputes with China, there are no shortage of places to buy materials from.

India's renewables sector ranked in the top five industries for overseas investment last fiscal year, per Reuters.

Of note: India's government is aiming to cut the emissions intensity of the country's GDP by 45% by 2030.

Go deeper: "Investment in renewable energy additions and in energy efficiency measures will need to scale up considerably if India is to meet the government’s ambitions," the Organisation for Economic Co-operation and Development reported in October.

2. The BFD:

2. The BFD: Private equity takes big steps in India

Illustration of smoke from two smoke stacks forming a dollar bill sign.

⚠️ Not so fast: The House passed a measure to repeal President Biden’s pause on tariffs for solar panels from four Southeast Asian countries on Friday, our Axios Pro Policy colleague Nick Sobczyk reports.

Biden said he’ll veto it, but solar companies have been fretting about bipartisan support for a move that could be hugely damaging to parts of the industry.

Meanwhile, the Biden administration may delay its decision on whether to give EV manufacturers tradable credits for using electricity from renewable fuels, per Reuters.

☀️ An obvious choice: Renewables infrastructure investor True Green Capital Management acquired a majority stake in CleanChoice Energy, a firm that helps consumers and businesses tap zero-carbon power, Generate's Ben Geman writes.

The deal injects $100 million of equity capital into CleanChoice for owning, operating and growing its multistate portfolio of solar assets. The acquisition keeps the CleanChoice brand and team. Terms were not disclosed.

Founded in 2012, CleanChoice — which has more than 215,000 residential customers — has a solar project pipeline of over 300 megawatts and plans to expand it. The projects are planned for New York, Maine, Pennsylvania and Indiana.

🏭 Green light for CO2 injection: The EPA plans to grant Louisiana state regulators permitting authority to inject carbon dioxide into underground rock formations, Ben writes.

The move could speed up pending and future projects in a state that oil companies and others see as a key region for CO2 storage.

🚜 No-shave November, meet no-mow May: Lawns have become the latest front-line issue in neighborhoods across the country, Jennifer A. Kingson reports in What’s Next.

Environmental campaigns like "No Mow May," the "anti-lawn" movement, "Food Not Lawns" and "Climate Victory Gardens" are gaining steam — and prompting others to dig in their heels.

4. 🌡️ Temperature check

3. 🌡️ Temperature check

Illustration of an earth in space covered in red and blue meteorological color lines.

• Origin by Ocean, a Finland-based startup that offers algae-based fuel alternatives, raised €7.5m in seed funding from Voima Ventures, Lifeline Ventures, Batofin and Security Trading. Business Finland also supplied a €4.5m loan as part of the deal. https://axios.link/3n5hwHX

• Nosh.bio, a Berlin-based fungi protein startup, raised €3.2m in seed funding led by Earlybird with participation from U.S.-based Clear Current Capital, Grey Silo Ventures and Good Seed Ventures. https://axios.link/428HicO

• Microgreens, a Portugal-based indoor farming startup, raised €55,000 via crowdfunding. https://axios.link/40NcHRf

• Danone Manifesto Ventures, the corporate venture arm of French food giant Danone, took a minority stake in Imagindairy, an Israeli startup making "animal-free" dairy proteins via precision fermentation, for an undisclosed amount. https://axios.link/3LDyeri

• Apollo launched Apollo Clean Transition Capital, a $4b clean energy and sustainability investment strategy. https://axios.link/3nq5wk9

• Mitsubishi and Mitsubishi UFJ Financial Group are launching a $1b decarbonization fund targeting U.S. and European startups in floating offshore wind power and renewable aviation fuels, per Reuters, citing Nikkei. https://axios.link/3VkGjnO

• Micromobility.com, the company formerly known as Helbiz, regained compliance with Nasdaq Capital Market's minimum bid price requirement. https://axios.link/40UU9yi

• Cenntro Electric, a Freehold, N.J.-based electric delivery truck developer, received written notice that it’s out of compliance with Nasdaq for failing to file its Form 10-K annual report. Cenntro has 60 days to regain compliance. https://axios.link/3LdMx4k

• Burcon NutraScience, an ag-tech company, has partnered with an unnamed “industry plant protein company” to submit a bid to acquire the assets of distressed plant protein processor Merit Functional Foods, which went into receivership on March 1. https://axios.link/449knA5

• Bosch, the German tech and engineering company, is acquiring the assets of Roseville, Calif.-based chipmaker TSI Semiconductors. The move is aimed at expanding Bosch’s semiconductor business with silicon carbide chips, per TechCrunch. https://axios.link/3HqiHby

• VinFast, the Vietnamese EV manufacturer, is receiving another $2.5b from its founder and parent company, VinGroup. https://axios.link/3AIB8o9

• GM is investing $200m to open a parts factory for the Chevy Silverado electric pickup. The plant will be built on the former Detroit Pistons Arena in Auburn Hills, Mich. https://axios.link/42gY3Tz

• Concordia University in Montreal received $123m in grant funding from the government-backed Canada First Research Excellence Fund for its research work around decarbonization and renewable-based electrification. https://axios.link/3Njev15

• Flux Power, a Vista, Calif.-based lithium-ion battery developer, renewed the available credit under its existing facility with Silicon Valley Bank, a division of First Citizens Bank, of $14m. https://axios.link/3n7sCMy

• Bloom Energy, a California-based clean energy company, will provide 9.75 MW to five of European clean energy group Elugie's commercial, industrial and data center sites in Belgium. https://axios.link/44901qG

• Daimler Truck North America, NextEra Energy Resources, and BlackRock Alternatives launched a joint venture, Greenlane, to install and operate a U.S. public charging and hydrogen fueling network for medium- and heavy-duty vehicles. https://axios.link/3LKN7bo

Daimler Trucks is also launching a line of medium-duty electric trucks under a new brand, Rizon. https://axios.link/3Nm9YLw

• Enel North America, the U.S. subsidiary of the Italian utility, is considering Oklahoma for a planned 3 GW solar cell and module factory, per PV Tech. https://axios.link/3LlUCnJ

• Rad Power Bikes, the Seattle-based e-bike manufacturer, is collaborating with Carson City, Nev.-based battery materials startup Redwood Materials to launch an e-bike battery recycling program, per The Verge. https://axios.link/3AHBRGd

• Lego broke ground on its $1b "carbon neutral" factory in Virginia. https://axios.link/3VkxCK9

• Blue Bird, a Macon, Ga.-based electric and low-emission school bus maker, delivered 60 electric school buses to Broward County Public Schools in Florida. https://axios.link/41XsjTc

5. Hot deals

4. Hot deals

• Larry Rigdon will retire from Houston-based offshore support company Tidewater's board of directors on June 26. Ridgon has served as the company's non-executive chairman of the board since October 2019. https://axios.link/3LExDFu

• Tyrone Bland joined the board of Los Angeles-based electric air transport company Surf Air Mobility. https://axios.link/40SfrwC

• Bracewell hired Kyle Spencer as principal in the firm's policy resolution group. Spencer most recently served as policy adviser at the American Petroleum Institute. https://axios.link/3AEVWx0

• X-Energy, the Rockville, Md.-based SMR developer, hired Thomas Nixon as SVP for commercial operations. Nixon joins the company from Google, where he was senior technical program manager for data center strategic initiatives. https://axios.link/3HtNi8p

• PIC Group, an Atlanta-based energy services provider, hired Felix Alejandro as VP of global human resources. Alejandro was previously VP of human resources at InVeris Training Solutions. https://axios.link/44jN9hm

• Amprius Technologies, the Fremont, Calif.-based silicon anode developer for lithium-ion batteries, appointed Kathleen Bayless as an independent director. Bayless retired in 2015 as CFO of Synaptics. https://axios.link/3HuyVke

• Blink Charging, the Miami Beach-based EV charging network, announced the election of Kristina Peterson to its board of directors. Peterson is CEO of Mayflower Partners, a cleantech financial advisory firm. https://axios.link/40Tk49P

• American Clean Power hired Sarah Beerbower as VP of member relations. Beerbower was previously SVP of corporate relations at the U.S. Chamber of Commerce. https://axios.link/3NrIMe8

6. It's personnel

5. It's personnel

🌞 Happy Monday! This week is already off to a good start, so let's join in.

😬 Situational awareness: Lordstown Motors, the Ohio-based electric pickup truck startup, warned that it’s on the brink of bankruptcy after manufacturing giant Foxconn threatened to withhold funding and withdraw from their production partnership, Bloomberg reports.

🤞🏻 Megan is hoping her luck changes with the Phantom Ranch reservation lottery today. Hopefully a Grand Canyon rim-to-rim hike is in her future!

📦 The move to Rhode Island went smoothly last week. Now: unpacking. Send music recommendations, please.

Thanks to Michael Flaherty and Phoebe Neidl for today's edits.

And thank you for reading Climate Deals! Please share with your friends, family and fire watchers.

May 01, 2023

1 big thing: Wildfire defense funding