Energy Revolution Ventures (ERV), a venture capital firm founded by a chemical engineer, has closed an $18 million Seed and Series A fund to invest in deeptech startups, focusing on energy storage, carbon capture, and hydrogen technologies. This development marks a significant milestone in the firm's mission to drive innovation in the energy sector.

The fund, which is the firm's 2023 vintage, has attracted a diverse range of limited partners (LPs), including family offices in the metals and energy sector, high-net-worth individuals, and Bidra Innovation Ventures, the corporate venture capital arm of Morocco's OCP Group. ERV has already built a portfolio of nine companies, showcasing its commitment to supporting cutting-edge startups in the energy space.

At the helm of ERV is Marcus Clover, Co-Founder and Partner, who brings a unique blend of technical expertise and entrepreneurial experience to the table. Clover's background as a chemical engineer, having worked on hydrogen-powered drones and heavy-duty vehicles, has given him a deep understanding of the innovation happening in the energy sector. This expertise has enabled him to identify opportunities for investment and support startups that are pushing the boundaries of energy technology.

ERV's strategy is centered around the idea that chemistry will play a crucial role in driving innovation in the energy sector. The firm believes that electrification, not just decarbonization, will be a key driver of growth in the industry. Clover emphasized that ERV's thesis is focused on rewiring the economy, which requires significant technological advancements in energy storage, transmission, and electrification.

In addition to its fund, ERV has also established a venture builder, dubbed Prosemino, which enables the firm to spin up new ventures based on its in-house technical expertise. This approach allows ERV to support startups from inception to growth, providing access to a network of advisors from the University of Oxford and University College London, as well as specialist laboratories in London.

Some of the startups in ERV's portfolio include Green Li-ion, which focuses on lithium-ion battery recycling, Anthro, which develops structural, safe batteries, and Oort Energy, which is working on low-cost renewable hydrogen production. TechCrunch has previously covered two of these investee companies, Anthro Energy and Divigas, highlighting the potential of ERV's portfolio.

The closure of ERV's $18 million fund marks a significant development in the venture capital landscape, as it brings a unique combination of technical expertise and investment acumen to the energy sector. As the firm continues to support innovative startups, it is likely to play a key role in shaping the future of energy technology.

With its focus on deeptech and commitment to driving innovation in the energy sector, ERV is well-positioned to make a meaningful impact in the years to come. As Clover noted, the growth potential in electrification is vast, and ERV is poised to be at the forefront of this transformation.