# US Department of Energy: portfolio, investments and team

> US Department of Energy is a government based in United States. 453 investments on record, 77 in the last 12 months, latest Sept 2026.

Source: https://millionrounds.com/fund/u-s-department-of-energy (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# US Department of Energy

Last cheque observed Sep 2026; 453 cheques on record.

Email

Deploying now Government

Pre-seed Seed Series A Smartgrids Energy Battery

Follow US Department of Energy and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fu-s-department-of-energy)

Deploying now

**44%** of best year **77** **cheques in 12 months**, 453 on record

Since the last cheque **52** days **00** hrs **00** min **00** sec

Median round **$2.0M** Rounds led **1 of 453** Sole investor **206 rounds** Exits **7 from the portfolio** Mostly in **United States, 93%**

Pitch US Department of Energy

## US Department of Energy highlights

- 01 77 cheques in the last 12 months
- 02 Mostly Grant and Venture: 82% of its rounds
- 03 Sole investor in 206 rounds, median $3.0M
- 04 7 exits from the portfolio

## What they do

- **Type:** Government (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Pre-seed Seed Series A Series B Growth
- **Sectors:** Smartgrids Energy Battery
- **Based in:** Washington, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **453 appearances**

- **2026** 68 rounds
- **Sept** **[Niron Magnetics](https://millionrounds.com/company/niron-magnetics)** US · Anzu Partners **$10M** With 2 others
- **Sept** **[Protein Evolution](https://millionrounds.com/company/protein-evolution)** Grant · US **$3.0M** With 1 other
- **Sept** **[NeoVolta](https://millionrounds.com/company/neovolta)** Debt · US **$20M** Sole investor
- **Sept** **[Bluestem Biosciences](https://millionrounds.com/company/bluestem-biosciences)** Grant · US **$200K** With 1 other
- **Sept** **[Marel Power Solutions](https://millionrounds.com/company/marel-power-solutions)** Grant · US **$1.9M** With 2 others
- **Sept** **[NLM Photonics](https://millionrounds.com/company/nlm-photonics)** Venture · US **Undisclosed** With 3 others
- **Sept** **[Mazama Energy](https://millionrounds.com/company/mazama-energy)** Series B · US **$135M** With 1 other
- **Sept** **[Type One Energy](https://millionrounds.com/company/type-one-energy)** Venture · US **$1.0M** With 3 others
- **Sept** **[CorePower Magnetics](https://millionrounds.com/company/corepower-magnetics)** Seed · US **$11M** With 2 others
- **Sept** **[Quaise Energy](https://millionrounds.com/company/quaise-energy)** Grant · US **$25M** With 2 others
- **Sept** **[Celadyne Technologies](https://millionrounds.com/company/celadyne-technologies)** Grant · US **$250K** With 2 others
- **Sept** **[Zymochem](https://millionrounds.com/company/zymochem)** Grant · US **$4.0M** With 2 others
- **Sept** **[Verinomics](https://millionrounds.com/company/verinomics)** Venture · US **$2.7M** With 1 other
- **Sept** **[Marathon Fusion](https://millionrounds.com/company/marathon-fusion)** Grant · US **$3.6M** With 2 others
- **Sept** **[Realta Fusion](https://millionrounds.com/company/realta-fusion)** Venture · US **$9.5M** With 3 others
- **Sept** **[Xcimer Energy](https://millionrounds.com/company/xcimer-energy)** Venture · US **$100M** With 2 others
- **Sept** **[Great Lakes Crystal Technologies](https://millionrounds.com/company/great-lakes-crystal-technologies)** Grant · US **$2.7M** With 2 others
- **Aug** **[Princeton NuEnergy](https://millionrounds.com/company/princeton-nuenergy)** Grant · US **$50M** With 1 other
- **Aug** **[Riven Systems](https://millionrounds.com/company/riven-systems)** Pre-seed · US **$7.9M** With 2 others
- **Aug** **[LuxWall](https://millionrounds.com/company/luxwall)** Debt · US **$77M** With 3 others
- **Aug** **[InventWood](https://millionrounds.com/company/inventwood)** Grant · US **$15M** Sole investor
- **Aug** **[DexMat](https://millionrounds.com/company/dexmat)** Venture · US **$1.0M** With 2 others
- **Aug** **[Curio](https://millionrounds.com/company/curio)** Grant · US **$2.5M** Sole investor
- **Aug** **[Nth Cycle](https://millionrounds.com/company/nth-cycle)** Grant · US **$100M** With 3 others
- **Aug** **[Tandem PV](https://millionrounds.com/company/tandem-pv)** Grant · US **$7.7M** With 2 others
- **Jul** **[Thea Energy](https://millionrounds.com/company/thea-energy)** Grant · US · TechCrunch **$20M** With 4 others
- **Jul** **[EELI Technology](https://millionrounds.com/company/eeli-technology)** Pre-seed · US **$2.0M** With 3 others
- **Jul** **[BlueQubit](https://millionrounds.com/company/bluequbit)** Grant · US **$1.5M** With 5 others
- **Jul** **[Sofab](https://millionrounds.com/company/sofab)** Seed · US **$6.0M** With 2 others
- **Jun** **[Focused Energy](https://millionrounds.com/company/focused-energy)** Series A · DE · TechCrunch **$240M** With 5 others
- **Jun** **[California Resources](https://millionrounds.com/company/california-resources)** Debt · US **$550M** Sole investor
- **Jun** **[NOMAD Transportable Power Systems](https://millionrounds.com/company/nomad-transportable-power-systems)** Debt · US **$6.5M** Sole investor
- **Jun** **[American Battery Technology Company](https://millionrounds.com/company/american-battery-technology-company)** Grant · US **$115M** Sole investor
- **Jun** **[Technip Energies](https://millionrounds.com/company/technip-energies)** Debt · FR **$581M** Sole investor
- **Jun** **[Quino Energy](https://millionrounds.com/company/quino-energy)** Venture · US **Undisclosed** With 2 others
- **Jun** **[Solidion Technology](https://millionrounds.com/company/solidion-technology)** US **$35M** Sole investor
- **Jun** **[AirCapture](https://millionrounds.com/company/aircapture)** Venture · US **Undisclosed** Sole investor
- **Jun** **[eXoZymes](https://millionrounds.com/company/exozymes)** Grant · US **$2.0M** With 2 others
- **Jun** **[NOVONIX](https://millionrounds.com/company/novonix)** CA **$15M** Sole investor
- **Jun** **[ElementUSA](https://millionrounds.com/company/elementusa)** Grant · US **$67M** Sole investor

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **1** person at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## Exits from the portfolio

Companies it backed that were later bought or listed **7 in all**

**[SolarBridge Technologies](https://millionrounds.com/company/solarbridge-technologies)** Bought by SunPower Corporation **Undisclosed** Nov 2014

**[Sun Catalytix](https://millionrounds.com/company/sun-catalytix)** Bought by [Lockheed Martin](https://millionrounds.com/fund/lockheed-martin-ventures) **Undisclosed** Aug 2014

**[Fisker Automotive](https://millionrounds.com/company/fisker-automotive)** Bought by [Wanxiang America](https://millionrounds.com/fund/wanxiang-america) **$149M** Feb 2014

**[Innovalight](https://millionrounds.com/company/innovalight)** Bought by DuPont **Undisclosed** Jul 2011

**[Varian Semiconductor Equipment Associates](https://millionrounds.com/company/varian-semiconductor-equipment-associates)** Bought by Applied Materials **$4.9B** May 2011

**[Tesla Motors](https://millionrounds.com/company/tesla-motors)** Listed **$1.0B** Jul 2010

**[A123 Systems](https://millionrounds.com/company/a123-systems)** Listed **Undisclosed** Sept 2009

An exit counts when it came after the firm's first round in the company. From historical deal records.

## The cheque

Pre-seed Seed Series A

Median round joined **$2.0M** the round, not its cheque Alone, median **$3.0M**

Led 1 of 453 rounds **0%**

- **Sole investor:** 206 rounds
- **Last cheque:** Sept 2026
- **Exits:** 7 from the portfolio

Rounds by stage said on their site

- Grant *265*
- Venture *77*
- Debt *33*
- Seed said *24*
- Series A said *19*
- Pre-seed said *-*
- Series B said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [National Science Foundation](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno) 89
- [Cleantech Open](https://millionrounds.com/fund/cleantech-open) 18
- [Elemental Impact](https://millionrounds.com/fund/elemental-impact) 12
- [Breakthrough Energy](https://millionrounds.com/fund/breakthrough-energy) 11
- [Techstars](https://millionrounds.com/fund/techstars) 11
- [MassChallenge](https://millionrounds.com/fund/masschallenge) 10

**Pitching US Department of Energy?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as US Department of Energy. A count of rooms they were both in, not a relationship either has claimed.

[**National Science Foundation** Government **89** rounds together](https://millionrounds.com/fund/nsf-small-business-innovation-research-small-business-techno)[**Cleantech Open** Accelerator **18** rounds together](https://millionrounds.com/fund/cleantech-open)[**Elemental Impact** VC firm **12** rounds together](https://millionrounds.com/fund/elemental-impact)[**Breakthrough Energy** VC firm **11** rounds together](https://millionrounds.com/fund/breakthrough-energy)[**Techstars** VC firm **11** rounds together](https://millionrounds.com/fund/techstars)[**MassChallenge** Accelerator **10** rounds together](https://millionrounds.com/fund/masschallenge)[**California Energy Commission** Government **9** rounds together](https://millionrounds.com/fund/california-energy)[**Khosla Ventures** VC firm **8** rounds together](https://millionrounds.com/fund/khosla-ventures)[**Massachusetts Clean Energy Center** VC firm **8** rounds together](https://millionrounds.com/fund/massachusetts-clean-energy-center)[**Alumni Ventures** VC firm **7** rounds together](https://millionrounds.com/fund/us-strategic-tech-fund-an-alumni-ventures-fund)[**NASA** Company **7** rounds together](https://millionrounds.com/fund/nasa-national-aeronautics-and-space-administration)[**Safar Partners** VC firm **6** rounds together](https://millionrounds.com/fund/safar-partners)

## Recently backed

The latest companies US Department of Energy put money into.

[**Niron Magnetics** $10M · Sept 2026](https://millionrounds.com/company/niron-magnetics)[**NeoVolta** $20M · Sept 2026](https://millionrounds.com/company/neovolta)[**Bluestem Biosciences** $200K · Sept 2026](https://millionrounds.com/company/bluestem-biosciences)[**Marel Power Solutions** $1.9M · Sept 2026](https://millionrounds.com/company/marel-power-solutions)[**NLM Photonics** Sept 2026](https://millionrounds.com/company/nlm-photonics)[**Mazama Energy** $135M · Sept 2026](https://millionrounds.com/company/mazama-energy)

## Mentioned on podcasts

Episodes that name US Department of Energy in their description, not their title.

- [Inevitable](https://millionrounds.com/podcasts/inevitable) 1 Oct 2024 · 1h 7m A Conversation with Oxy CEO, Vicki Hollub Mentions [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Apple PodcastsShow page
- [Fund/Build/Scale](https://millionrounds.com/podcasts/fund-build-scale) 20 Jul 2024 · 22 min S2 E4: VAST Data CEO/founder Renen Hallak: “When we started, AI wasn't a thing.” With [Renen Hallak](https://millionrounds.com/person/renen-hallak) Mentions [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Apple PodcastsShow page
- [Inevitable](https://millionrounds.com/podcasts/inevitable) 18 Jun 2024 · 1h 0m Onshoring Clean Energy with Giulia Siccardo, DOE's Office of Manufacturing and Energy Supply Chains Mentions [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Apple PodcastsShow page
- [Inevitable](https://millionrounds.com/podcasts/inevitable) 2 Apr 2024 · 47 min Diving into Desalination with Peter Fiske, National Alliance for Water Innovation Mentions [Burnt Island Ventures](https://millionrounds.com/fund/burnt-island-ventures)[US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy)[Tom Ferguson](https://millionrounds.com/person/tom-ferguson) Apple PodcastsShow page
- [Inevitable](https://millionrounds.com/podcasts/inevitable) 18 Mar 2024 · 55 min From the White House to Climate Frontlines with Brandon Hurlbut With [Brandon Hurlbut](https://millionrounds.com/person/brandon-hurlbut-ngp-energy-capital-management) Mentions [US Department of Energy](https://millionrounds.com/fund/u-s-department-of-energy) Apple PodcastsShow page

## Quick answers about US Department of Energy

### What does US Department of Energy invest in?

US Department of Energy invests most often at Grant and Venture (82% of the rounds on record), in sectors such as Smartgrids, Energy and Battery.

### How active is US Department of Energy?

453 investments on record, 77 of them in the last 12 months, and it led 1. The most recent was in Sept 2026.

### What has US Department of Energy invested in recently?

Its most recent investments on record: Niron Magnetics (Sept 2026), Protein Evolution (Grant, Sept 2026) and NeoVolta (Debt, Sept 2026).

### How big are US Department of Energy's cheques?

The median round it joins is $2.0M.

### Does US Department of Energy lead rounds?

Sometimes: it led 1 of its 453 investments on record (0%).

### Where does US Department of Energy invest?

Most of the companies it backs are in the United States (93%).

### Is US Department of Energy investing now?

Yes: it is actively investing, with 77 investments in the last 12 months.

### Who does US Department of Energy invest alongside?

Most often National Science Foundation (89 rounds together), Cleantech Open (18 rounds together) and Elemental Impact (12 rounds together).

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