New Wave Angels: Investment Opportunity with Terrament
Join New Wave Angels for an investor session and pitch event with Terrament CEO & Founder Eric Chaves on January 15th, hosted virtually from 12:00-12:45 PM EST. Bring lunch and questions for Eric!
Hear a live pitch and learn about an incredible investment opportunity that I am personally very excited about. I will be moderating and there to answer any questions you may have on angel investing or creating your investor thesis.
Terrament is building low-cost, high-scale energy storage using modular gravity batteries installed deep underground. Their patented design achieves 20 times more energy density than other gravity solutions by maximizing both height and weight.
We have an SPV allocation within their $1.5M SAFE round, closing Jan 30th. (Valuation: $7.5M post-money cap with a 20% discount).
Why we’re excited:
As our power grid adapts to the intermittency of renewable energy, the market faces an accelerating demand for long-duration energy storage. Governments and energy utilities alike are seeking new solutions to scale faster and cheaper.
Competing solutions, such as compressed air, flow batteries, and pumped hydro, face efficiency, scalability, or cost issues (e.g., Lithium-ion batteries are too expensive at long durations, and pumped hydro is a nearly tapped-out resource). Terrament offers a viable solution that is low-risk, high-scale, and low-cost.
Their patented design maximizes height with proven mining technology that drills a mile deep. Then, it maximizes weight with a proprietary modular conveyance system bolted to the bedrock of the shaft wall.
Their first customers are energy utilities and independent power producers seeking solutions to replace decommissioned coal or gas plants, reduce pollution by replacing peaker plants, lower renewable energy costs, and defer HVDC transmission upgrades.
The visionaries:
Eric Chaves is a technical entrepreneur with 20 years of experience in Architecture, Industrial Design, and Software Engineering. Terrament is his third company. He’s been awarded a US Patent and has two more pending patent applications.
Terrament has been accepted into the following programs: CEBIP accelerator program at Stony Brook University (since 2021), Founder Fellowship cohort at Newlab (in 2023, still active), Plug and Play Program (Japan - Energy focus, in 2024), and Clean Tech Open Program (Northeast, in 2024). Terrament was also a recipient of the U.S. DOE EnergyWERX voucher grant.
Read more here: https://newwaveangels.substack.com/p/december-newsletter