Elizabeth Stone

Principal

30 past transactions

Persefoni

Series C in 2025
Persefoni AI Inc., established in 2020 and headquartered in Tempe, Arizona, specializes in developing an artificial intelligence-based platform for carbon footprint accounting and management. The company's core product, Persefoni, is a SaaS-based platform that measures, analyzes, plans, forecasts, and reports organizational and investment portfolio carbon footprints. It provides actionable performance context, enabling businesses to manage carbon transactions and inventory with the same rigor as financial transactions. Persefoni caters to a wide range of clients, including institutional investors, sustainability teams, CFOs, and business unit leaders, offering tools for carbon accounting, planning, forecasting, and sustainability reporting. The platform serves as a single source of carbon truth, facilitating compliance with stakeholder and regulatory climate disclosure requirements.

Siemens Energy's Indian wind unit

Acquisition in 2025
Siemens Energy's Indian wind unit is the Indian and Sri Lankan wind turbine business of Germany's Siemens Energy.

Intersect

Private Equity Round in 2024
Intersect is a mobile application that enables its users to interact with each other. The application uses GPS to enable its users to view the profiles of those they have physically crossed paths with. In addition, it enables its users to send messages and communicate with those individuals. Intersect was launched by Alex Dobrin, Bogdan Tirca, and Laurence Ion.

BETA Technologies

Series C in 2024
BETA Technologies is an electric aerospace company focused on developing electric aircraft and advanced flight control systems aimed at promoting clean aviation technology. The company designs a self-sufficient ecosystem of electric vertical takeoff and landing (eVTOL) aircraft that meets the transportation needs of people and goods while adhering to environmental principles. BETA's technology encompasses all-electric aircraft and a comprehensive charging infrastructure to support various electric vehicles, enhancing the efficiency and sustainability of transportation. The company also offers training programs for pilots and maintenance personnel, serving clients in cargo, passenger, and emergency response sectors, thereby enabling more efficient, cleaner, and faster transportation solutions.

Form Energy

Series F in 2024
Form Energy, Inc. is a company focused on developing long-duration energy storage systems aimed at transforming the electric grid by enabling the reliable use of renewable energy sources such as wind and solar. Established in 2017 and based in Somerville, Massachusetts, Form Energy is known for its innovative iron-air battery technology, which allows for the storage of electricity over extended periods, making renewable energy more dispatchable throughout the year. This technology not only helps to replace conventional fossil fuel-based generation but also enhances transmission capacity without the need for new infrastructure. By facilitating deep decarbonization of the electric system, Form Energy plays a significant role in reducing carbon emissions and promoting a sustainable energy future.

Techem

Acquisition in 2024
Techem GmbH is an energy service provider based in Eschborn, Germany, specializing in the real estate sector and serving private homeowners both domestically and internationally. Established in 1952, the company offers a range of services that include metering and billing for energy and water consumption, alongside device sales, rental, and maintenance. Techem also provides energy contracting services, which encompass the delivery of heat, cooling, and light, as well as the planning, financing, and operation of energy systems. Additionally, the company offers online tools for billing and data management, facilitating energy monitoring and consumption analysis. Techem's services aim to help clients, including landlords and residents of apartment buildings, reduce their energy costs while ensuring efficient management of resources.

Monolith

Private Equity Round in 2024
Monolith Materials, Inc. is a manufacturer based in Lincoln, Nebraska, with an additional office in San Carlos, California. Founded in 2012, the company specializes in sustainable manufacturing through the innovative process of methane pyrolysis, which allows for the production of low-emission carbon black and hydrogen. This method utilizes natural gas as a feedstock and incorporates renewable electricity, distinguishing Monolith’s approach from traditional combustion processes. In addition to carbon black, the company also produces hydrogen tail-gas, which serves as a co-product for power generation and industrial gas markets. Monolith Materials, formerly known as Boxer Industries, Inc., has positioned itself at the forefront of environmentally conscious manufacturing in the United States.

Twelve

Funding Round in 2024
Twelve, formerly known as Opus 12, is a Berkeley, California-based company that specializes in recycling carbon dioxide emissions into valuable chemicals and fuels. Founded in 2015, the company has developed innovative technology that can be integrated with any source of CO₂ emissions. By utilizing only water and electricity as inputs, Twelve transforms captured carbon dioxide into essential products such as methane, ethylene, and ethanol. The firm aims to provide a cost-competitive alternative to petroleum-derived chemicals and fuels, thereby addressing carbon emissions while simultaneously creating economically viable solutions.

MIRATECH

Acquisition in 2024
Miratech specializes in manufacturing emission control and acoustic products for stationary natural gas and diesel reciprocating engines used across power generation, OEMs, energy infrastructure, and marine markets. Their product range includes catalytic converters, housings, silencers, monitoring systems, and related services, designed to reduce engine-exhaust pollutants and enable compliance with regulatory standards while enhancing engine performance.

Syre

Series A in 2024
Syre is a textile impact company that focuses on hyperscale textile-to-textile recycling, beginning with polyester.

Olympus Terminals

Acquisition in 2024
Olympus Terminals is an independent petroleum storage provider located in Long Beach, California. The company specializes in offering storage services for a range of refined products, including diesel, gasoline, renewables, and biodiesel. By operating a fuel terminal that adheres to stringent environmental standards, Olympus Terminals enables its clients to effectively meet the growing demands for fuel storage and delivery in a rapidly evolving market.

Syre

Seed Round in 2024
Syre is a textile impact company that focuses on hyperscale textile-to-textile recycling, beginning with polyester.

Tata Technologies

Secondary Market in 2023
Tata Technologies Limited, headquartered in Pune, India, is a global company specializing in product engineering and digital services. Founded in 1981, it provides a range of services including IT consultancy, SAP implementation, networking solutions, CAD/CAM engineering, and design consultancy. The company's offerings extend to product development, digital manufacturing, teardown and benchmarking, project execution, and components integration. Tata Technologies also delivers PLM solutions that enhance the efficiency of product development processes and offers manufacturing/enterprise IT solutions that optimize critical business processes through data analytics and enterprise resource planning. With a strong focus on the automotive industry, the company serves original equipment manufacturers (OEMs) and their suppliers in markets such as aerospace and engineering. Its operations are primarily based in India, the United States, the United Kingdom, and Europe.

AmSpec

Acquisition in 2023
AmSpec Services, LLC specializes in providing laboratory and inspection services for petroleum and petrochemical products across the United States, Caribbean, Latin America, and globally. The company focuses on delivering high-quality testing, inspection, and certification services to clients in the agri-business, oil, gas, and petrochemical sectors. AmSpec is committed to exceeding client expectations through well-documented processes, thorough training, and the expertise of its qualified employees. Continuous improvement in operations further enhances the company's ability to assist clients in reviewing, improving, and maintaining quality and efficiency in their operational and standardization protocols.

UBQ Materials

Venture Round in 2023
UBQ Materials is a company that converts mixed household waste into a sustainable composite material designed to replace traditional oil-based plastics. By utilizing an innovative technology, UBQ Materials transforms heterogeneous waste inputs into a consistent, usable thermoplastic material known as UBQ™, which supports manufacturers in their sustainability efforts. This process not only diverts waste from landfills but also significantly reduces greenhouse gas emissions. By providing an eco-friendly alternative to conventional plastics, UBQ Materials enables corporate clients to minimize their reliance on finite natural resources and lower their overall carbon footprint.

A-Gas International

Acquisition in 2023
A-Gas International is a manufacturer of industrial gases and specialty chemicals that serve multiple sectors, including heating, refrigeration, insulation, solvent, manufacturing, and medical industries. The company offers a range of products, such as refrigerants, blowing agents, industrial gases, halon, and fire protection agents, allowing clients to order customized chemical solutions tailored to their specific needs. A-Gas Rapid Recovery, a division of the company, focuses on providing refrigeration and foam blowing services, leveraging its technical expertise and industry knowledge to support its clients effectively.

Persefoni

Series C in 2023
Persefoni AI Inc., established in 2020 and headquartered in Tempe, Arizona, specializes in developing an artificial intelligence-based platform for carbon footprint accounting and management. The company's core product, Persefoni, is a SaaS-based platform that measures, analyzes, plans, forecasts, and reports organizational and investment portfolio carbon footprints. It provides actionable performance context, enabling businesses to manage carbon transactions and inventory with the same rigor as financial transactions. Persefoni caters to a wide range of clients, including institutional investors, sustainability teams, CFOs, and business unit leaders, offering tools for carbon accounting, planning, forecasting, and sustainability reporting. The platform serves as a single source of carbon truth, facilitating compliance with stakeholder and regulatory climate disclosure requirements.

Hybar

Private Equity Round in 2023
Hybar builds and operates a scrap metal recycling steel rebar production facility.

Ohmium

Series C in 2023
Ohmium is a manufacturer of modular Proton Exchange Membrane (PEM) electrolyzers designed to produce high-purity hydrogen efficiently. The company's innovative electrolyzer technology allows for the stacking of individual units, which reduces installation and maintenance costs while offering flexible deployment configurations. Ohmium's electrolyzers operate by splitting water into hydrogen ions, electrons, and oxygen, facilitating the generation of green hydrogen. This sustainable approach is aimed at supporting clients in maximizing value across various sectors, including industrial, transportation, and energy applications. The proprietary design of their electrolyzer stack technology enables it to maintain a differential pressure across the membrane, ensuring cost-effective and reliable operations.

Palmetto Clean Technology

Private Equity Round in 2023
Palmetto is a clean technology company that specializes in building and operating solar energy projects for residential, commercial, and utility customers. Founded in 2009 and headquartered in Charleston, South Carolina, Palmetto designs and installs solar systems while providing a range of services, including customer support, financing, engineering, permitting, and installation. The company offers innovative software solutions such as Palmetto Home, which enables homeowners to monitor real-time energy consumption and solar production, and Palmetto Fleet, which provides energy monitoring insights for home management professionals. Additionally, Palmetto's Alchemy platform enhances the sales experience for solar professionals by streamlining the sales, design, and proposal processes. With additional offices in locations such as San Francisco, Sea Girt, Charlotte, Washington, and Greenville, Palmetto is committed to advancing clean energy technology and improving energy efficiency.

Form Energy

Series E in 2022
Form Energy, Inc. is a company focused on developing long-duration energy storage systems aimed at transforming the electric grid by enabling the reliable use of renewable energy sources such as wind and solar. Established in 2017 and based in Somerville, Massachusetts, Form Energy is known for its innovative iron-air battery technology, which allows for the storage of electricity over extended periods, making renewable energy more dispatchable throughout the year. This technology not only helps to replace conventional fossil fuel-based generation but also enhances transmission capacity without the need for new infrastructure. By facilitating deep decarbonization of the electric system, Form Energy plays a significant role in reducing carbon emissions and promoting a sustainable energy future.

Monolith

Private Equity Round in 2022
Monolith Materials, Inc. is a manufacturer based in Lincoln, Nebraska, with an additional office in San Carlos, California. Founded in 2012, the company specializes in sustainable manufacturing through the innovative process of methane pyrolysis, which allows for the production of low-emission carbon black and hydrogen. This method utilizes natural gas as a feedstock and incorporates renewable electricity, distinguishing Monolith’s approach from traditional combustion processes. In addition to carbon black, the company also produces hydrogen tail-gas, which serves as a co-product for power generation and industrial gas markets. Monolith Materials, formerly known as Boxer Industries, Inc., has positioned itself at the forefront of environmentally conscious manufacturing in the United States.

Summit Carbon Solutions

Private Equity Round in 2022
Summit Carbon Solutions is a company focused on addressing the global challenge of decarbonization through the development of carbon capture and storage facilities. These facilities are designed to capture and permanently store carbon dioxide emissions from biorefineries and other industrial sources. By lowering the carbon footprint of these emitters, Summit Carbon Solutions aims to accelerate the transition toward sustainable and renewable energy solutions. The company's initiatives are part of a broader effort to mitigate climate change and promote environmental sustainability.

BETA Technologies

Series B in 2022
BETA Technologies is an electric aerospace company focused on developing electric aircraft and advanced flight control systems aimed at promoting clean aviation technology. The company designs a self-sufficient ecosystem of electric vertical takeoff and landing (eVTOL) aircraft that meets the transportation needs of people and goods while adhering to environmental principles. BETA's technology encompasses all-electric aircraft and a comprehensive charging infrastructure to support various electric vehicles, enhancing the efficiency and sustainability of transportation. The company also offers training programs for pilots and maintenance personnel, serving clients in cargo, passenger, and emergency response sectors, thereby enabling more efficient, cleaner, and faster transportation solutions.

Sionna Therapeutics

Series B in 2022
Sionna Therapeutics was formed in late 2019, leveraging 10 years of large pharma scientific investment and expertise. Our experienced scientific team has been on a mission to fully normalize CFTR function. In the three decades since the discovery of the genetic defects that cause cystic fibrosis (CF), researchers have made remarkable advances for patients. Yet the ultimate goal of CF drug development – to fully normalize the function of CFTR, the key protein leading to the pathology of CF – has remained out of reach.

Tata Passenger Electric Mobility

Venture Round in 2022
Tata Passenger Electric Mobility Limited (TPEML) is the electric vehicle subsidiary of Tata Motors, focused on promoting zero-emissions driving. The company designs, manufactures, and develops a range of electric vehicles, integrating its proprietary technology to enhance charging efficiency and connectivity through mobile applications. This commitment to innovation aims to provide users with improved mobility and driving performance while contributing to sustainable transportation solutions. TPEML plays a significant role in the growing electric mobility sector, reflecting Tata Motors' dedication to advancing environmentally friendly automotive technologies.

Nextracker

Venture Round in 2022
Nextracker Inc. is a leading provider of innovative single-axis photovoltaic trackers and software solutions for solar power plants worldwide. Based in Fremont, California, the company designs and manufactures advanced tracking systems, such as the NEXTrackerSPT, which operates independently without the need for external power sources. Nextracker's TrueCapture technology enhances the performance of solar arrays by adapting to real-time site and weather conditions. Additionally, the company offers energy storage solutions, including NX Drive and NX Flow, catering to both generation-plus-storage and long-duration applications. Nextracker has established a strong presence globally, having supplied over 35 GW of solar trackers and serving a diverse clientele that includes solar system developers, owners, and engineering, procurement, and construction firms. With operations in various countries, including the United States, Mexico, Spain, India, and Brazil, Nextracker is recognized for its commitment to innovation and excellence in the solar industry.

UBQ Materials

Venture Round in 2021
UBQ Materials is a company that converts mixed household waste into a sustainable composite material designed to replace traditional oil-based plastics. By utilizing an innovative technology, UBQ Materials transforms heterogeneous waste inputs into a consistent, usable thermoplastic material known as UBQ™, which supports manufacturers in their sustainability efforts. This process not only diverts waste from landfills but also significantly reduces greenhouse gas emissions. By providing an eco-friendly alternative to conventional plastics, UBQ Materials enables corporate clients to minimize their reliance on finite natural resources and lower their overall carbon footprint.

Form Energy

Series D in 2021
Form Energy, Inc. is a company focused on developing long-duration energy storage systems aimed at transforming the electric grid by enabling the reliable use of renewable energy sources such as wind and solar. Established in 2017 and based in Somerville, Massachusetts, Form Energy is known for its innovative iron-air battery technology, which allows for the storage of electricity over extended periods, making renewable energy more dispatchable throughout the year. This technology not only helps to replace conventional fossil fuel-based generation but also enhances transmission capacity without the need for new infrastructure. By facilitating deep decarbonization of the electric system, Form Energy plays a significant role in reducing carbon emissions and promoting a sustainable energy future.
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