Congratulations to the whole Crux team on their successful $50 million Series B fundraise, led by Lowercarbon Capital. From the first time we spoke with Alfred Johnson and Allen Kramer, we shared their vision for a capital marketplace powering the growing clean energy economy. My partner at Commonweal, Ron Bloom, had the pleasure of working with Alfred during the Obama Administration at the U.S. Treasury and knew first-hand his exceptional capacities as an entrepreneur and leader. We were all in as seed investors.
Since our initial investment two years ago, we’ve seen Alfred, Allen, and the Crux team execute brilliantly on this vision, building an ecosystem of financial institutions, developers, corporate buyers, and other market participants driving investment into new power generation, clean manufacturing, and critical supply chains.
Two years back, Alfred joined us at our Commonweal annual meeting, where he shared his perspective on the future of clean energy finance. His sharp insights and ambitious vision made a lasting impression on our team and community.
We're proud to work alongside great partners like Andreessen Horowitz, Lowercarbon Capital, New System Ventures, Acrew Capital, Liberty Mutual Strategic Ventures, MassMutual Ventures, OMERS Ventures, and Giant Ventures to support Alfred, Allen, and the whole Crux team.
Crux is poised to further scale its impact at a critical inflection point for clean energy and advanced manufacturing markets. A few of the reasons why we are excited about Crux's future:
- Electricity prices are rising as energy demand rises for the first time in 20 years due to a combination of domestic manufacturing, data centers, and electrification.
- Battery and component supply chains are returning to the US
- Critical minerals are a key battleground in an era of increasing global competition
- Private credit and direct investment in real assets is growing rapidly
- AI presents an opportunity to dramatically enhance the efficiency of financial transactions
This new round is a powerful example of the potential for companies solving the big challenges facing the US, what we call AmTech.
You can read more about Crux's fundraise in Axios.
