A California company promoting proprietary technology said to be able to convert recycled metals into “safe, durable fuels” has raised US$13 million of seed funding backed by Peter Thiel’s Founders Fund and the CIA-affiliated IQT based in Arlington, Virginia.
Voya founding investor Energy Impact Partners also supported the raise, along with Silicon Valley and Austin, Texas, VCs such as Overmatch Ventures, Trust Ventures, Seven Stars, Liquid 2 Ventures and SV Angel. Another investor, New York-based 8090 Industries, says Voya is pioneering a “new class of recyclable, carbon-free metal fuels”
“Our abundant electric future demands a radical new energy delivery system, one that isn’t limited by traditional grid infrastructure,” said Voya CEO and co-founder, Richard Wang.
“We’re harnessing the inherent power of metals and creating a new category of clean and reliable power generation systems that can deliver energy anywhere on Earth with unparalleled speed and flexibility.”
Energy Impact Partners’ Shayle Kann said Voya was bringing “a suite of fundamentally new technologies to market”.
