According to San Jose Mercury News, Serious Materials – a cleantech startup in Sunnyvale, CA, was funded to the tune of another $60 million this week, bringing its total raised amount to a whopping $120 million. Venture capitalists (VCs) have increasingly focused on cleantech investments, raising billions over the last few years to invest in the sector. Serious Materials is unique in that it has been around since 2002 and has five manufacturing plants producing tangible products and employs about 250-300 people. In previous years much of the VC funding was plowed into Web 2.0 platforms, tech/software startups and biotech R&D – intangible assets and human capital – rather than macro-driven companies with immediate profit potential.
Serious Materials is developing and selling energy-saving windows, drywall and other products such as lighter-weight, environmentally friendly noise reduction coatings. The company says their products have “the potential to save billions of pounds of CO2 annually,” while offering fast payback periods for their customers. As a result, they don’t need to rely on tax credits or other policies to achieve success.
- Up to 50% reduction in heating and cooling costs, enables users to recover additional cost within two years in many climates
- Qualifies for $1,500 tax credit discussed in this post
- Thin film technology in SeriousGlass provides transparency and infrared reflection to simultaneously block summer heat, retain winter warmth, eliminate UV rays and maximize natural light
- Available in a wide variety of finishes for virtually any design consideration
- Uses 80% less energy to produce than traditional gypsum drywall
- Made of 80% recycled materials (including from steel and cement plants)
- Fully reutilizable and safely disposable at end of life (ex: can be pH additive for soil or raw material for new EcoRock or other building materials)
- The most mold-resistant (by 50%) and lowest emitting drywall (60% less dust)
- QuietRock – commercial and residential soundproof drywall that is acoustically equivalent to eight sheets of standard drywall
- ThermaRock – super insulating wall board that is 380-800% more insulating than standard gypsum
- QuietHome Doors – soundproof doors; 2-1/4” model is THX-Certified
- Quiet Windows – highest STC (Sound Transmission Class) rating of any windows on the market and they are Energy Star rated as well
- Coatings – ultra-low VOC coating compounds for computers, cars and other transportation applications
More information can be found on the company’s website.