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Climate-tech startup Alterno, founded in 2023, has successfully closed its Series A funding round, accelerating the deployment of its patented sustainable heat technology aimed at cutting 100 million tons of CO2 emissions annually by 2030. The round was led by UntroD Capital Asia, with participation from ADB Ventures, the venture arm of the Asian Development Bank, signaling strong investor confidence in scalable decarbonization solutions for hard-to-abate industrial sectors. Early institutional support from Antler played a key role in the company’s initial development. Alterno’s flagship innovation, a sand-based thermal energy storage system, utilizes abundant and low-cost materials to store heat at temperatures up to 600°C. Offering zero-emission operation and minimal thermal loss, the solution delivers a cost-effective, high-efficiency alternative to fossil fuel-based industrial heat—particularly in regions where clean heat technologies are limited or economically inaccessible. Alterno’s technology has already been deployed in industrial drying and agro-processing in Vietnam, including in Buon Ma Thuot, where its Hybrid system supports coffee drying operations. Clients include multinational giants such as PepsiCo and Mondelez, as well as a network of cooperatives and domestic manufacturers. Hai Ho, Co-Founder and CEO of Alterno, said: “This funding marks a pivotal milestone for Alterno. With the support of ADB Ventures and UntroD, we’re accelerating our mission to bring large-scale, cost-effective decarbonization to industrial sectors. This isn’t just another battery—it’s a revolution in how we generate and use industrial heat, starting from something as simple as sand.” At the P4G Summit 2025, Hai Ho presented Alterno’s technology to high-profile global leaders including Vietnamese Prime Minister Ph?m Minh Chính, UN Deputy Secretary-General Amina Mohammed, and Prime Ministers of Ethiopia, Laos, and Cambodia, reflecting rising international interest in the startup’s solution. Product Expansion and Global Deployment With the Series A capital, Alterno is expanding its next-generation product lineup: Alterno One – A compact, off-grid thermal battery delivering clean heat to homes and remote communities. After a successful pilot in Lâm Ð?ng, Vietnam, the system is being prepared for deployment in Mongolia, aimed at improving winter air quality and energy access. Alterno Hybrid – The world’s first modular thermal battery combining electric and biomass heating. Designed to provide 24/7 heat supply in rural agro-processing, it enables organic waste-to-energy conversion, offering a sustainable alternative to traditional drying methods. Both systems are IoT-connected, AI-optimized, and remotely monitored by Alterno’s in-house R&D team to ensure peak performance and operational transparency. Strategic Partnerships and Market Accessibility Alterno is actively pursuing global expansion through Heat-as-a-Service (HaaS) models, enabling clients to adopt its solutions without large upfront capital expenditure. The company is also in co-development discussions with global players such as Honda and Marubeni, exploring applications beyond Vietnam. The startup has garnered widespread recognition, including winning the 2024 PepsiCo Greenhouse Accelerator for Asia-Pacific and placing Top 2 globally at the Startup World Cup, cementing its position as a key innovator in the clean energy sector. With its sights set on reshaping energy infrastructure for factories, farms, and communities worldwide, Alterno continues to push the boundaries of thermal innovation and industrial decarbonization. |
