Eden, a Boston, MA-based sustainable natural resource recovery company, raised $12M in Seed funding.
The round was led by TechEnergy Ventures and Helmerich & Payne, with participation from Grantham Foundation for the Protection of The Environment, Anglo American, Good Growth Capital, Mass Ventures, and Portfolia Green & Sustainability Fund.
The company intends to use the funds to scale its Electrical Reservoir Stimulation (“ERS”) technology deployment across geothermal, geologic hydrogen, geologic carbon storage, and sustainable mining applications.
Co-Founded by Ammar Alali and Paris Smalls, Eden works in the field of sustainable natural resource recovery. They break rocks with electricity to maximize subsurface permeability. By using high-voltage electricity and proprietary modeling and reservoir characterization techniques, they can achieve precise fracture permeability enhancement, while preventing the high-water consumption and environmental risks associated with traditional hydraulic fracturing operations.
FinSMEs
24/10/2023