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- ☢️ $475M Nuclear Deal Powers Transition
☢️ $475M Nuclear Deal Powers Transition
Terra Innovatum Fuels Clean Energy Momentum
Dear Friend,
As April 2025 concludes, Mobility surges forward with China’s $321 million allocation to hydrogen fuel-cell electric vehicle (FCEV) deployments, accelerating its bid to dominate clean transportation markets. This state-backed push aligns with private-sector innovation, as Intellicar secures $13.5 million to expand its connected EV solutions, targeting smarter charging networks and vehicle-to-grid integration. The most transformative move comes from Volkswagen and Uber, which announced a partnership to deploy thousands of autonomous ID Buzz electric vans across U.S. cities by 2026, with pilot testing in Los Angeles slated for late 2025. This collaboration signals a strategic pivot toward integrating electrification, autonomy, and ride-hailing ecosystems-a trifecta poised to redefine urban mobility.
Energy Transition efforts reach new heights through Terra Innovatum’s $475 million SPAC merger, which positions the small modular nuclear reactor (SMR) developer for a 2028 commercial rollout. Meanwhile, infrastructure consolidation accelerates as Glenfarne acquires Chilean solar and battery assets from Metlen Energy & Metals, expanding its portfolio of grid-scale renewable projects, while Copenhagen Infrastructure Partners (CIP) sells a 50% stake in Scotland’s 500 MW Coalburn 1 battery project to AXA-a deal valuing Europe’s largest storage facility at over $1 billion. At the distributed energy frontier, Exowatt’s $70 million Series A underscores growing investor confidence in thermal storage solutions, complementing Arnergy’s $15 million Series B extension to scale solar deployments in Nigeria. Together, these moves highlight a dual focus on institutional-scale infrastructure and decentralized systems to meet global decarbonization targets.
Physical AI solidifies its role as the backbone of industrial automation, with Palo Alto Networks acquiring Protect AI for an estimated $650–$700 million, integrating agentic AI capabilities into its cybersecurity platform. Venture capital follows suit, as Construct Capital launches a $300 million fund targeting manufacturing tech startups, prioritizing AI-driven robotics and digital twin systems. On the deployment front, Cosmic Robotics secures $4 million to advance its autonomous Cosmic-1A robot for solar farm construction, leveraging GPS and stereo vision to optimize photovoltaic installations, while UPS explores partnerships with Figure AI to deploy humanoid robots in logistics hubs-a move building on Figure’s recent $675 million funding round and collaboration with OpenAI. These advancements illustrate AI’s expanding capacity to bridge digital intelligence with physical execution, redefining productivity across industries.
Warm regards,
Vitaly Golomb |  |
At Mavka Capital, we’re grateful to everyone who joined us during San Francisco Climate Week for a series of impactful events driving the future of energy and climate innovation. Together with BuildTech VC, we co-hosted the Energy Startup Showcase at Diaspora Hub, where startups like 4th State Energies, Quino Energy, Inlyte Energy, Verne, Phase Biolabs, Greenfluidics, Whisper Energy, LumenCache, Andluca, and DTE Materials pitched their solutions in sustainability, electrification, and energy to a packed room of investors, industry leaders, and fellow founders.
We also partnered with HyWatts to deliver a high-energy panel discussion, “Can Hydrogen Solve the Energy Needs of Power-Intensive Industries Today?”, moderated by our Managing Partner Vitaly Golomb to tackle the urgent challenges and opportunities in green hydrogen and grid resilience.
The strong turnout, engaged discussions, and collaborative spirit across both events underscored how ready the industry is for innovation, while highlighting the ongoing need to simplify integration into large organizations. Thank you to all the startups, judges, partners, and participants - your energy and commitment are accelerating the transition to a more sustainable, resilient future.
 |  |
Mobility
1. China Allocates $321 Million to Boost Hydrogen Fuel-Cell Electric Vehicle Deploymet
China has significantly ramped up funding to support hydrogen fuel-cell electric vehicle (FCEV) demonstration projects, distributing $321 million (2.34 billion yuan) in its third annual subsidy round, underscoring its push to become a global leader in clean transportation technology.
2. Intellicar Secures $13.5 Million to Propel Connected Mobility Forward
Intellicar, a pioneer in connected mobility and provider of EV IoT solutions, has secured $13.5 million in new funding to accelerate product innovation and expand market reach in the increasingly electrified mobility ecosystem.
3. Volkswagen and Uber Partner to Deploy Autonomous ID Buzz Vans by 2026
Volkswagen and Uber have formed a strategic partnership to launch thousands of all-electric, self-driving ID.Buzz vehicles across U.S. cities, with testing expected to begin in Los Angeles in late 2025 and commercial launch scheduled for 2026.
Energy Transition
1. Terra Innovatum to Go Public via SPAC Merger
Small modular nuclear reactor developer Terra Innovatum announced plans to go public through a merger with GSR III Acquisition Corp., valuing the company at $475 million. The deal aims to fund regulatory approvals for a 2028 commercial rollout.
2. CIV Raises $200 Million for Manufacturing and Energy Startups
Venture firm CIV closed a $200 million inaugural fund to back startups in nuclear energy, advanced manufacturing, and physical AI, supported by SpaceX COO Gwynne Shotwell and Union Square Ventures’ Fred Wilson.
3. Exowatt Secures $70 Million Series A for Thermal Energy Storage
Exowatt, a U.S.-based renewable energy company, closed a $70 million Series A funding round to scale its thermal energy storage solution.
4. Arnergy Raises $15 Million in Series B Extension
Nigerian solar startup Arnergy closed a $15 million Series B extension led by CardinalStone Capital Advisers and British International Investment.
5. CIP Sells 50% Stake in Scottish Battery Storage Project to AXA
Copenhagen Infrastructure Partners sold half of its stake in the 500 MW Coalburn 1 battery project—set to be Europe's largest—to AXA, while retaining operational control.
6. Glenfarne Acquires Chilean Solar and Battery Assets from Metlen Energy
US energy infrastructure developer Glenfarne Asset Company acquired a portfolio of Chilean solar and battery energy storage assets from Greek company Metlen Energy & Metals.
Physical AI
1. Palo Alto Networks Acquires Protect AI for Estimated $650–$700 million
Palo Alto Networks acquired AI startup Protect AI, enhancing its cybersecurity platform with agentic AI capabilities. The acquisition coincided with the RSA cybersecurity conference, where Palo Alto also unveiled its new Prisma “AIRS” platform.
2. Construct Capital Launches $300 Million Fund for Manufacturing Tech
Construct Capital announced a $300 million fund targeting early-stage startups leveraging technology to disrupt manufacturing and physical infrastructure, emphasizing AI and robotics integration.
3. Nous Research Secures $50M in Series A Funding Led by Paradigm
Nous Research, a startup focused on decentralized artificial intelligence, has successfully secured $50 million in a Series A funding round.
4. Cosmic Robotics Raises $4 Million for Solar Construction Robot
San Francisco-based Cosmic Robotics secured $4 million in funding led by Giant Ventures to develop its autonomous, electric Cosmic-1A robot for utility-scale solar construction. The robot uses GPS navigation and stereo vision to install photovoltaic modules efficiently.
5. UPS Explores Partnership with Figure AI for Humanoid Robots
UPS is in talks with Figure AI to deploy humanoid robots for logistics tasks, building on Figure’s recent $675 million funding round and collaboration with OpenAI for AI model development.
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