Heliogen: Raises $108M in Funding

Heliogen Raises $108M in Funding

• Heliogen, a Pasadena CA-based renewable energy technology company, raised $108M in funding
• The company recently closed $83m in funding in addition to $25m raised in the previous round
• Backers included ArcelorMittal (NYSE: MT), Edison International, Prime Movers Lab, Ocgrow Ventures, A.T. Gekko, 8090 Partners, Gordon Crawford, and Rashaun Williams
• Existing investors included Bill Gates, Patrick Soon-Shiong, Nant Capital, Steve Case through Revolution’s The Rise of the Rest® Seed Fund, and Neotribe Ventures
• The company intends to use the funds for rapid deployment of its decarbonization technology and Sunlight Refinery facilities, initially in the United States
• The company is advancing a renewable energy technology for heat, power, and green hydrogen, which uses sunlight to replace fossil fuels