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Foley Hoag Represents Modern Electron in $30M Series B Financing

February 09, 2022

Foley Hoag LLP represented Modern Electron, a sustainable heat and power startup, in closing a $30 million Series B financing round. The round was led by At One Ventures, with participation from Extantia, Starlight Ventures, Valo Ventures, IRONGREY, Wieland Group and others.

Modern Electron was founded in 2015. The company’s proprietary technology converts wasted heat into bonus electricity, increasing the efficiency of furnaces, boilers, and hot water heaters. Modern Electron works with leading HVAC and energy system manufacturers to distribute its technology. The company is also moving into hydrogen production to decarbonize gas heating.

Foley Hoag attorneys Mark Haddad, Sara Mattern and Lexi Stacy represented Modern Electron in the funding round.