Zero Industrial, Inc., a Charleston-based company focused on decarbonizing industrial heat, has secured $10 million in funding led by Evok Innovations with participation from Rusheen Capital Management. The investment will support the deployment of Zero Industrial’s thermal energy storage (TES) systems, which help industrial facilities lower emissions and energy costs by replacing fossil fuels with stored clean electricity.
ZERO INDUSTRIAL ANNOUNCES $10 MILLION SERIES A INVESTMENT TO ACCELERATE DEVELOPMENT OF THERMAL ENERGY STORAGE IN NORTH AMERICA
CHARLESTON, S.C., April 7, 2025 /PRNewswire/ — Zero Industrial, Inc. (“Zero Industrial”), a leading development company decarbonizing industrial heat by utilizing thermal energy storage (“TES”) systems, announced today that it successfully closed $10 million in funding led by Evok Innovations (“Evok”) with participation from Rusheen Capital Management (“Rusheen”).
“We are excited to partner with Evok and Rusheen to help us accelerate the deployment of thermal energy storage projects in North America,” said Ted Kniesche, founder and CEO. “We are rapidly originating project opportunities with industrial customers who want to reduce their energy costs and lower their carbon footprint by using stored electricity as thermal energy, instead of burning gas, fuel oil or coal.”
Thermal Storage
Zero Industrial was founded in 2024 by Ted Kniesche and Jim McDermott to decarbonize industrial heat using commercially-available TES systems at industrial facilities. The company provides full project development services to its customers, including technology selection, project design and engineering of each TES system. Importantly, Zero Industrial will fully finance each project and sell clean heat or steam to its customers under a long-term Heat-as-a-Service contract without any upfront capital outlay required by the industrial facility.
“We are excited to partner with Ted and his team at Zero Industrial to build a market leading development business that will accelerate the decarbonization of industry – one of the hardest to abate sectors of our economy,” said Naynika Chaubey, Partner at Evok Innovations. “We continue to see massive growth from cheap, intermittent renewable generation, coupled with increasingly impacted electrical grids. Zero Industrial capitalizes on these market challenges by deploying thermal storage projects that will shift curtailed or off-peak clean electricity to baseload heat and steam used by industries globally.”
Zero Industrial is actively originating and developing projects in the United States and Canada and seeking industrial customers looking to decarbonize their industrial heat, eliminate criteria pollutants and reduce energy costs and volatility.
SOURCE Zero Industrial, Inc.
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