Unearthly Materials, a leading materials science company at the forefront of innovative technologies that can address climate change, has reportedly raised $20 million in its latest funding round, according to Crunchbase.
Investors: The funding was reportedly spearheaded by Bill Gates-owned Breakthrough Energy Ventures (BEV), an influential venture capital firm dedicated to investing in green and sustainable technologies.
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As part of the funding round, Unearthly Materials also gained investments from some of the most distinguished names in technology today. These include Taavet Hinrikus, co-founder of TransferWise; Sam Altman, CEO of OpenAI; and Daniel Ek, CEO of Spotify. All three investors have vast experience in the fields of finance and technology, and they have demonstrated their commitment to environmental sustainability through their investment in Unearthly Materials.
The funds will be used to further research and development initiatives at Unearthly Materials as well as expand its production capabilities and increase the availability of its cutting-edge products. The new investments will also help accelerate Unearthly Materials’ growth across multiple markets around the globe as it seeks to become a leader in sustainable materials science solutions.
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Latest Company Discoveries: The founder of the company, physicist Ranga Dias from the University of Rochester, announced a major breakthrough in the field of superconductivity during a talk at the American Physical Society’s annual March meeting in Las Vegas. Dias revealed that he and his team had accomplished a century-old dream by creating a superconductor that operates at room temperature and near-room pressure. The presentation drew such intense interest that security personnel had to stop entry to the overflowing room before the talk began.
The findings, published in Nature, reveal that a conventional conductor composed of hydrogen, nitrogen and the rare-earth metal lutetium was transformed into a flawless material capable of conducting electricity with perfect efficiency.
The company recently applied for a patent on its revolutionary lutetium hydride material, signaling a commitment to protecting its proprietary processes and intellectual property.
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BEV Investment Significance: BEV is a relatively new investment fund, established in 2016. Despite its age, the fund has already made notable investments in companies working on breakthrough technologies in various sectors, particularly in clean energy.
BEV’s investments include companies such as Commonwealth Fusion Systems, a fusion energy company; CarbonCure Technologies, which develops carbon capture and utilization technologies for concrete production; and Pivot Bio, which is developing sustainable microbial solutions for agriculture. These companies are working on solutions to some of the most pressing challenges facing the world today — such as climate change — and have the potential to make a significant impact in their respective industries.
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This article Unearthly Materials Raises $20 Million from Bill Gates’s BEV To Revolutionize Materials Science And Superconductivity originally appeared on Benzinga.com
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