Government · 2 deals
Every published round US Department of Energy took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Diraq | Grant | 4 Apr 2025 | $15m | Lead | Startup Daily, Defence Connect | |
| Vast Solar | Grant | 27 Jan 2023 | $40m | Participant | RenewEconomy (5 Jun 2023), RenewEconomy (16 May 2023), RenewEconomy (13 Feb 2023), RenewEconomy (29 Jan 2023), RenewEconomy (11 Oct 2022) |
Companies US Department of Energy has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Diraq | Quantum computing company building spin qubit chips on silicon | 4 Apr 2025, Grant | 1 | 1 |
| Vast Solar | 27 Jan 2023, Grant | 1 | 0 |
Fund closes reported for US Department of Energy, as distinct from the investments it has made.
Companies US Department of Energy has backed that another company then bought. An exit for the holding, not a deal US Department of Energy did.
| Name | Role | Sources |
|---|---|---|
| Jennifer Granholm | US Secretary of Energy | RenewEconomy |
Stories naming US Department of Energy. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Quantum Brilliance's diamond-based quantum processors are running in Oak Ridge National Laboratory's commercial quantum cluster in the US. The piece also recalls the National Reconstruction Fund's $13m Series A investment made in December 2024.
Quantum computing venture Diraq has banked $15 million toward an unfinished round, with earlier backers joined by two new funds, pushing its cumulative funding beyond US$137 million.
Quantum computing company Diraq, a UNSW spin-out led by Andrew Dzurak, has signed to base itself at a Chicago quantum park alongside PsiQuantum, adding recent US Energy Department and DARPA awards.
Also Forbes Australia
Roundup of short industry items: Element 25 and Vaxxas win US government grants, Orthocell gets an R&D refund, Convergence Medical completes its Series A, and Monique Conheady takes a Hysata board seat.
Also Startup Daily
Brisbane flow battery maker Redflow has entered voluntary administration after failing to attract matching private investment, with Deloitte appointed; the article also recalls Tritium's sale to Exicom and a small earlier Redflow equity raise.
Perth carbon-capture developer KC8 has secured $10 million from Woodside Energy and Cemex's venture arm to cut heavy-industry emissions; the piece also recalls Uno's 2021 acquisition, earlier seed rounds and a US grant.
Brisbane flow battery maker Redflow has won a Queensland government grant of up to $1.12 million toward a feasibility study for a large local battery factory.
Also RenewEconomy
Australian laser-enrichment firm Silex Systems will bid to supply high-assay uranium fuel for next-generation reactors under a US Energy Department program; the piece also recalls its $120 million raise for the technology.
Redflow has won its largest flow battery contract, supplying 34.4 MWh for a California children's hospital microgrid backed by a US federal energy storage program whose final funding figure is undetermined.
Novonix, an ASX-listed Brisbane battery materials firm, has been selected to negotiate a US$150 million US Department of Energy grant to expand synthetic graphite anode production, lifting its share price.
Vast Solar joins a US-led consortium awarded a US$2.3 million Department of Energy grant to develop concentrated solar thermal storage, while progressing plants in South Australia and Queensland.
Quantum firm Q-CTRL wins a US energy department research grant to automate quantum hardware with AI alongside a national laboratory, and the article recalls its recent Series B led by Airbus Ventures.