MassVentures

MassVentures is a venture capital firm based in Waltham, Massachusetts, established in 1978 as a quasi-public corporation by the Massachusetts Legislature. The firm focuses on providing seed and early-stage funding to high-growth startups, facilitating their transition from concept to commercialization. MassVentures invests primarily in sectors such as information technology, healthcare, cybersecurity, e-commerce, mobile, manufacturing, and robotics. With a governance structure that includes an independent Board of Directors and management by experienced venture capitalists, MassVentures leverages the state's entrepreneurial spirit and innovation centers to support the Massachusetts innovation economy. The firm also offers accelerator programs to further assist emerging companies in their growth journey.

Charlie Hipwood

President and CEO

Charles Hipwood

Founder President and CEO

Stacy Swider

Vice President, Investments

Priya Yadav

Vice President, Investments

Past deals in Oil and Gas Refining

ePaint Company

Grant in 2019
ePaint Company develops specialty antifouling coatings for the United States Coast Guard, The United States Navy, NOAA, Woods Hole Oceanographic Institute, and the U.S Geological Survey. The ongoing research has resulted in three patents.

Pendar Technologies

Grant in 2019
Pendar Technologies is a privately held company focused on developing advanced autonomous chemistry systems that integrate innovative hardware with machine learning algorithms. By leveraging expert knowledge of molecular spectroscopy, Pendar's technology combines a Raman platform with machine learning to quantify chemical reactants, products, and intermediates in real-time. This capability enables the discovery and scaling of new chemical processes, facilitates rapid responses to emergencies, and contributes to life-saving applications.

Dynamo Micropower

Grant in 2018
Dynamo Micropower Corporation specializes in developing fuel-flexible gas turbines designed for small distributed generation applications in the oil and gas industry. The company's notable products include PowerCore, which provides continuous power for oilfield operations, and Infernocore, a flameless turboheater. Dynamo's innovative turbine-based solutions offer grid-like power quality while significantly reducing energy costs, with the capability to operate on local unrefined gas, achieving savings of up to 80%. The company also delivers custom power solutions tailored to the specific needs of its clients, facilitating plug-and-play installation on flare gas. Dynamo has established a network of distributors and service partners to support its offerings. Founded in 2011 and based in Somerville, Massachusetts, Dynamo has successfully deployed multiple turbines for prominent customers in the industry.

Via Separations

Grant in 2016
Via Separations, Inc. is a company based in Somerville, Massachusetts, focused on developing membrane-based products for the efficient separation of industrial liquids in complex environments. Incorporated in 2016, the company utilizes advanced materials technology that significantly reduces energy consumption—reportedly using ten times less energy than traditional separation methods. Via Separations specializes in industrial decarbonization through its innovative membrane filtration systems, improving selectivity between nano filtration solutes while enhancing temperature stability, solvent resistance, and oxidizer tolerance. This enables manufacturing facilities to increase productivity while minimizing their energy usage.

Kuva Systems

Grant in 2015
Kuva Systems, known formally as MultiSensor Scientific, Inc., specializes in the development and manufacturing of advanced tools for detecting, visualizing, and quantifying methane leaks in the natural gas supply chain. The company offers a Leak Imaging and Quantification System (LIQS), which integrates infrared detection technology, sophisticated electronics, and an intuitive user interface. This system is designed to identify and assess methane emissions in real time, utilizing proprietary algorithms for accurate location and quantification. Kuva Systems also provides software solutions that generate color images of gas leaks, catering to the leak inspection and gas safety industries. Founded in 2015 and based in Cambridge, Massachusetts, the company is focused on enhancing gas detection and safety through innovative imaging technologies.

Dynamo Micropower

Grant in 2015
Dynamo Micropower Corporation specializes in developing fuel-flexible gas turbines designed for small distributed generation applications in the oil and gas industry. The company's notable products include PowerCore, which provides continuous power for oilfield operations, and Infernocore, a flameless turboheater. Dynamo's innovative turbine-based solutions offer grid-like power quality while significantly reducing energy costs, with the capability to operate on local unrefined gas, achieving savings of up to 80%. The company also delivers custom power solutions tailored to the specific needs of its clients, facilitating plug-and-play installation on flare gas. Dynamo has established a network of distributors and service partners to support its offerings. Founded in 2011 and based in Somerville, Massachusetts, Dynamo has successfully deployed multiple turbines for prominent customers in the industry.

Tank Utility

Grant in 2015
With over $150 billion spent on delivered fuels (i.e. Propane, Heating Oil, Diesel, etc.) every year, fuel distribution companies struggle to efficiently plan deliveries with more than 50% of all delivery miles (or about 1/6th of total market spend) being unnecessary. Tank Utility uses real-time tank level measurements from IoT monitors and innovative business intelligence software to eliminate wasted delivery miles while helping fuel providers provide a better customer experience through greater transparency..

Tank Utility

Grant in 2015
With over $150 billion spent on delivered fuels (i.e. Propane, Heating Oil, Diesel, etc.) every year, fuel distribution companies struggle to efficiently plan deliveries with more than 50% of all delivery miles (or about 1/6th of total market spend) being unnecessary. Tank Utility uses real-time tank level measurements from IoT monitors and innovative business intelligence software to eliminate wasted delivery miles while helping fuel providers provide a better customer experience through greater transparency..

Flodesign Sonics

Grant in 2014
FloDesign Sonics specializes in innovative acoustic technology aimed at revolutionizing separations and filtration processes across various industries. The company utilizes advanced 3D acoustic standing waves to capture, separate, and purify mixtures without relying on physical membranes, chemicals, or centrifugation. This proprietary technology has significant applications in life sciences, particularly in the bioprocess separations sector for the manufacturing of life-saving biopharmaceuticals, as well as in oil and gas, food and beverage, and industrial processing markets. By offering a more efficient and sustainable method of separation and filtration, FloDesign Sonics is positioned to make a notable impact on these industries.

Loci Controls

Grant in 2013
Loci Controls, Inc. specializes in optimizing landfill gas collection through its innovative automated systems. The company has developed the Loci WellWatcher, which combines wellhead-mounted hardware with cloud-based monitoring and analytics to enhance the extraction of methane from landfills. By providing real-time monitoring of gas composition, pressure, temperature, and flow, Loci Controls has demonstrated the capability to increase gas collection by over 20%, thereby improving safety and reducing operational costs for landfill operators and energy utilities in the United States. The firm also employs patent-pending technologies and offers continuous monitoring alongside field service support, aiming to enhance profitability while addressing environmental, health, and safety concerns. Established in 2012 and based in Fall River, Massachusetts, Loci Controls is dedicated to advancing renewable energy production through efficient landfill gas management.

Fiberspar

Venture Round in 2010
Fiberspar is a leading manufacturer of high-strength, fiber-reinforced tubular products specifically designed for the oil and gas industry. The company specializes in innovative spoolable LinePipe products, which have become a preferred choice among top industry producers due to their significant cost and performance advantages over traditional steel and fiberglass options. In addition to LinePipe, Fiberspar offers SmartPipe, a solution that facilitates the transmission of real-time data during drilling or well intervention operations, as well as permanently installed production tubing. The company also provides connectors to complement its product offerings, reinforcing its commitment to delivering advanced solutions tailored to the needs of the oil and gas sector.

Ze-gen

Series B in 2009
Ze-gen is a renewable energy company that utilizes proprietary gasification technology with ordinary waste streams to generate clean, sustainable, low-cost synthesis gas for multiple applications. Founded in 2004, Ze-gen has used innovative science, processes, a team, and industrial support in order to organize a group that believes that there is a possibility to efficiently repurpose the carbon content found in everyday waste and use it in various forms of renewable energy.

Fotech

Series A in 2008
Fotech Solutions Limited specializes in developing distributed acoustic sensing solutions, primarily for the oil and gas, pipeline, and security sectors. The company offers a range of technologies, including distributed acoustic sensors that deliver real-time intelligence for monitoring infrastructure and assets, such as LivePIPE for pipeline integrity and Helios Theta for comprehensive asset visibility. Fotech's solutions also extend to various applications, including rail monitoring, reservoir management, and security automation. With a focus on simplifying asset management and enhancing operational efficiency, Fotech provides interpretive tools that enable engineers to visualize and assess conditions in real time. Founded in 2006, Fotech is headquartered in Winchester, United Kingdom, and has additional offices in Calgary, Houston, Hong Kong, Kuala Lumpur, Dubai, and Mumbai. The company collaborates with a network of partners both in the UK and internationally to deliver its advanced monitoring solutions.

ThermoEnergy

Venture Round in 2007
ThermoEnergy Corporation, founded in 1988 and headquartered in Worcester, Massachusetts, specializes in the development and commercialization of advanced wastewater treatment and carbon-reducing combustion technologies. The company offers a variety of wastewater treatment systems based on its controlled atmosphere separation technology (CAST) platform, which includes solutions for treating brackish and natural water sources, recycling wastewater, and ensuring compliance with regulatory standards. Key products include Turbo CAST for heat recuperation and Mobile CAST for self-contained wastewater processing. Additionally, ThermoEnergy provides ammonia recovery processes for agricultural fertilizers, renewable energy solutions that convert waste into usable fuel, and enhanced biogas production methods for animal waste treatment. The company also holds a patented pressurized oxycombustion technology that facilitates the conversion of fossil fuels and biomass into electricity while significantly reducing air emissions and capturing carbon dioxide. Its technologies serve various sectors, including heavy manufacturing, petrochemicals, and municipal wastewater treatment, aiming to support clients in enhancing efficiency, reducing costs, and achieving sustainability goals.

Ze-gen

Series A in 2007
Ze-gen is a renewable energy company that utilizes proprietary gasification technology with ordinary waste streams to generate clean, sustainable, low-cost synthesis gas for multiple applications. Founded in 2004, Ze-gen has used innovative science, processes, a team, and industrial support in order to organize a group that believes that there is a possibility to efficiently repurpose the carbon content found in everyday waste and use it in various forms of renewable energy.

Ze-gen

Series A in 2006
Ze-gen is a renewable energy company that utilizes proprietary gasification technology with ordinary waste streams to generate clean, sustainable, low-cost synthesis gas for multiple applications. Founded in 2004, Ze-gen has used innovative science, processes, a team, and industrial support in order to organize a group that believes that there is a possibility to efficiently repurpose the carbon content found in everyday waste and use it in various forms of renewable energy.

Polnox

Seed Round in 2005
Polnox is a company focused on the development of advanced antioxidants aimed at prolonging the service life of various consumer products and materials. Utilizing its proprietary DT-mPM Antioxidants and environmentally friendly McIn Corrosion Inhibitors, Polnox offers solutions that significantly outperform traditional additives. The company's macromolecular antioxidants are specifically designed to provide strong resistance against the damaging effects of heat and oxygen, ensuring enhanced durability and performance for a wide range of applications.

TerraTherm

Venture Round in 2001
TerraTherm, Inc. specializes in the development and implementation of in situ thermal remediation technologies aimed at addressing organic contaminants in subsurface environments. Founded in 2000 and headquartered in Gardner, Massachusetts, the company provides a comprehensive range of services, including advising, designing, building, and operating thermal remediation projects from inception to completion. TerraTherm's offerings encompass technology selection, feasibility studies, treatability assessments, and enhancements for existing remediation efforts. The company serves a diverse clientele, including engineering firms, government agencies, corporations, and property owners, and operates internationally across various regions including Europe, Asia, and the Americas. TerraTherm is recognized for its innovative approach that utilizes heat and vacuum systems to effectively eliminate hazardous substances such as fuel oils, PCBs, and solvents from contaminated sites.

Aspen Technology

Venture Round in 1986
Aspen Technology, Inc. specializes in asset optimization solutions across various global markets, including North America, Europe, the Asia Pacific, Latin America, and the Middle East. The company operates through two primary segments: Subscription and Software, and Services and Other. It provides integrated software applications, particularly through its aspenONE suite, which encompasses tools for engineering, manufacturing, supply chain management, and asset performance. These applications aid industries such as energy, chemicals, pharmaceuticals, and food and beverage in optimizing their processes, improving operational efficiency, predicting equipment reliability, and enhancing planning and scheduling activities. Additionally, Aspen Technology offers maintenance and support services, professional services, and training to ensure effective implementation and use of its software. Founded in 1981, the company is headquartered in Bedford, Massachusetts.
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