# ElementUSA funding: rounds and investors

> ElementUSA has raised $97M across 2 rounds since 2025. Investors include US Department of Energy. Every round with its source.

Source: https://millionrounds.com/company/elementusa (Millionrounds; every figure on the page links to its filing or article)

United States · [Funded startup](https://millionrounds.com/companies)

# Who invested in *ElementUSA*

2 rounds we have observed, with the one investor named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Manufacturing

Raised 5 months ago

Funding summary Updated 26 Oct 2026

**$97M** raised across 2 rounds since 2025, from 2 sources

**$30M** Grant **$67M** Grant

- **Latest round:** Grant, $67M Jun 2026
- **Step-up i:** 2.2×
- **Investors:** 1

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2026

**$30M** Grant

**$67M** Grant

- **First round:** Grant, $30M
- **Biggest round:** $67M
- **Between rounds:** 7 months

## The rounds

- **Jun 2026** Grant **$67M** *1 returning* [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Source recorded
- **Nov 2025** Grant **$30M** *1 new* [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Source recorded

## Founders and team

From ElementUSA's own website: 13 on the team.

- **Chris Boling** Chief Financial Officer
- **Chris Young** Chief Strategy Officer
- **David Traub** Chief Commercial Officer
- **Hani Madbak** Chief Operating Officer
- **Jessica Garvey** Chief of Staff
- **Rick Tallman** Chief Development Officer
- **Dan Byrne** Board Member
- **Darren Ma** Board Member
- **David D'Addario** Board Member
- **Ellis Sullivan** Board Member
- **Kelly Kordzik** General Counsel
- **Robert Oliver** Principal Process Engineer
- **Tim Keating** Board Member

## Everyone who backed them

[US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Government **2** rounds

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=elementusa).

## Quick answers about ElementUSA

### Who invested in ElementUSA?

ElementUSA's investors include US Department of Energy.

### How much has ElementUSA raised?

ElementUSA has raised $97M across 2 rounds since 2025.

### When did ElementUSA last raise?

ElementUSA's most recent round was a Grant of $67M in Jun 2026.

### What was ElementUSA's biggest round?

Its most recent round, $67M in Jun 2026, is also its largest on record.

### Who backed ElementUSA first?

ElementUSA's first round on record, in Nov 2025, was backed by US Department of Energy.

### What stage is ElementUSA at?

ElementUSA's latest named round is a Grant, in Jun 2026.

### Where is ElementUSA based?

ElementUSA is based in the United States.

## Companies like ElementUSA

In the same sector, and raised in the last eighteen months.

[**Apex** $1.1B · Oct 2026](https://millionrounds.com/company/apex)[**ZwitterCo** $58M · Oct 2026](https://millionrounds.com/company/zwitterco)[**Peak Energy** $163M · Oct 2026](https://millionrounds.com/company/peak-energy)[**Arda** $233M · Oct 2026](https://millionrounds.com/company/arda)[**Origin** $121M · Oct 2026](https://millionrounds.com/company/origin)[**Jeevy Fabrication** Oct 2026](https://millionrounds.com/company/jeevy-fabrication)

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