ClearFlame Engine Technologies, a Chicago, IL-based developer of technology that enables heavy-duty engine manufacturers to produce engines at lower cost, while providing their customers with higher performance and fuel cost savings, raised $30M in Series B funding.
The round was led by Mercuria Energy Group, Rio Tinto, and WIND Ventures.
The company intends to use the funds to bring to market solutions that power heavy-duty engines with clean, renewable fuels and create a viable business solution to reduce carbon and soot.
Led by CEO BJ Johnson, and Chief Technology Officer Julie Blumreiter, ClearFlame Engine Technologies provides patented technology that runs on a range of renewable liquid fuels. It can efficiently adapt to markets like long-haul trucking, offering the same power, durability and performance as today’s diesel engines while readily integrating into existing manufacturing, fueling, maintenance and repair ecosystems. In pursuit of penetrating the more than $200 billion global trucking market, ClearFlame is piloting five trucks in collaboration with some of the largest fleet operators in North America. It is also exploring partnerships and applications for the mining, agriculture, and power generation sectors.
FinSMEs
10/03/2023