Ag Startup Engine has made an initial seed investment in Chicago-based ClearFlame Engines.
This is the ninth startup Ag Startup Engine has invested in since its formation in 2016 and is the first company to receive funding located outside of Iowa.
ClearFlame has developed a combustion system that can achieve a higher power output with lower emissions of soot, smog and carbon dioxide.
“The ClearFlame technology can replace traditional Diesel engines across a range of applications, but there is particularly strong synergy between ethanol and the agriculture sector that has us very excited to work with Ag Startup Engine,” said BJ Johnson, CEO of ClearFlame in the announcement.
Using Ag Startup Engine funding and government grants, ClearFlame plans to bring their technology to market, and currently hiring VPs of Engineering and Business Development to grow the company.
“BJ and Julie have made considerable progress in developing ClearFlame’s technology and their move to the Midwest from California is fortuitous,” said Joel Harris, Co-director of Ag Startup Engine. “There are significant synergies with Iowa State University and Iowa’s renewable fuels businesses. ClearFlame has demonstrated skill at attracting research funding to continue pre-revenue work. BJ and Julie also demonstrate skill as both technologists and entrepreneurs and have surrounded themselves with impressive advisers.”
Over the next year, Ag Startup Engine plans to add two to six more agriculture technology startups to their portfolio.
Leah Laboratories receives seed investment from Ag Startup Engine -Jan. 16, 2019
Tractor Zoom receives $25,000 investment from Ag Startup Engine -July 31, 2018
Ag Startup Engine makes second $25,000 investment in FarmlandFinder –July 11, 2018
Ag Startup Engine invests in Automed –July 10, 2018