Companies · Environmental Services

ION Clean Energy, Inc.

BOULDER · Environmental Services

Diligence memoA one-page analyst read on ION Clean Energy, Inc. — recommendation, valuation, rhythm, risks.
$74.4M
Total raised · real
3
Rounds
18.7×
Latest step-up
Top 5%
Sector rank · raised
Series C
Latest stage · inferred · Fri Mar 29 2024 00:00:00 GMT+0000 (Coordinated Universal Time)

ION Clean Energy, Inc. has raised $74M over 3 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

At-risk
  • Last raise 2.3 yr ago; this sector typically re-raises about every 11 months.
  • Past due for a raise versus sector cadence — watch for distress or a bridge.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Environmental Services

ION Clean Energy, Inc. is one of 242 Environmental Services companies tracked from BOULDER. By capital raised it ranks among the largest (ahead of 96% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

climate/cleantech

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
6
Investors (latest)
2024-03-29
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$250M$500M$750M$1.0BPre-Seed · 2019-05-09 Raised $652K (real) Modeled valuation $22M (est)$652K$22MPre-Seed2019Seed · 2019-07-01 Raised $3.8M (real) Modeled valuation $102M (est)$3.8M$102MSeed2019Series C · 2024-03-29 Raised $70M (real) Modeled valuation $624M (est)$70M$624MSeries C2024+$3.8M+$70MCumulative $74M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Pre-Seed$652K · 2019
Seed$3.8M · 2019
Series C$70.0M · 2024no Series A / Series B on file

Stages are modeled from round size (public records carry no series label). No record for: Series A, Series B — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 60%.

Modeled valuation trajectory
$624.4M
Base estimate est.
$249.0M
Conservative case
$983.1M
Upside case
$466.7M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series Ca $40M–$100M round). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Pre-Seed · modeled $22.0M · 2019-05-092019Seed · modeled $101.8M · 2019-07-01Series C · modeled $624.4M · 2024-03-292024
Model inputs · modeled:benchmark-stage-stepup-v1
15%
Dilution assumption
Implied ownership sold in the financing.
72%
Survival probability
53% low · 83% high
1.32×/yr
Annual markup
1.51×/yr upside case
2.3 yr
Elapsed time used
2.3 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
29 mo
Avg between rounds
$15.2M/yr
Capital velocity
7.2 yr
On record since
2019
First round
3
Rounds on file
How it compares to the market

Benchmarked against 242 companies in Environmental Services. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 32× above median
This company$74.4M
Sector median$2.3M
Latest round — vs other Series C rounds in sector (real $, this stage) 1.1× above median
This company$70.0M
Sector median$64.2M
Modeled value — vs sector median (estimate, all stages) 25× above median
This company$624.4M
Sector median$25.3M

Raised more than 96% of sector peers (real $). Modeled value above 94% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series C) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

Not enough valued peers in this cohort to chart positioning.

CompanyStageRaised · realValue · estvs peer med.
Streamline Innovations Holdings, Inc.Series C$48.3M$707.4M1.06×
ION Clean Energy, Inc. this companySeries C$74.4M$624.4M0.94×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Pre-Seed$652K2019-05-09$3.6M$22.0M90%
Seed$3.8M2019-07-01$18.8M$101.8M90%
Series C$70.0M2024-03-29$466.7M$624.4M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Pre-Seed$652K2019-05-09
    • First recorded raise — entered as Pre-Seed.
    • 19 investors on this round.
  2. Seed$3.8M2019-07-01
    • Came back fast: 2 mo vs the ~11 mo sector norm.
    • Round 5.8× larger than the prior — scaling up.
    • Revenue band moved No revenue → $1M–$5M.
    • Switched to Rule 4a5 (was Rule 506(b)).
  3. Series C$70.0M2024-03-29
    • Raised again after 57 mo — slower than the ~11 mo sector norm.
    • Round 18.7× larger than the prior — scaling up.
    • Switched to Rule 506(b) (was Rule 4a5).
    • 6 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~29mo cadence
$210.0M
Modeled next size est.range $136.5M$336.0M
18.7×
Last step-up
$15.2M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Alfred Brown2019-05
ERIK MEULEMAN2019-05
HERBERT SEARS2019-05
Manjae Han2024-03
MARTIN WENZEL2019-05
Paul Tufano2019-05
Timothy Vail2024-03
Registry & provenance

ION Clean Energy, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1770761
SEC CIK
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
rePlanet Holdings, Inc.Environmental ServicesSeries C$76.5M$250.3Msame sector · same stage
Streamline Innovations, Inc.Environmental ServicesSeries C$77.0M$1.9Bsame sector · same stage
ENTACT Environmental Services, Inc.Environmental ServicesSeries C$70.1M$1.8Bsame sector · same stage
R3 Treatment Holdings (Luxembourg) S.a.r.l.Environmental ServicesSeries C$64.2M$1.6Bsame sector · same stage
Ecofield International b.v.Environmental ServicesSeries C$61.2M$1.3Bsame sector · same stage
Ves Holding Company, LlcEnvironmental ServicesSeries C$59.0M$1.5Bsame sector · same stage
AT Sovereign Energy CorpEnvironmental ServicesSeries C$100.0M$478.4Msame sector · same stage
Streamline Innovations Holdings, Inc.Environmental ServicesSeries C$48.3M$707.4Msame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Ion Energy, Inc.Energy / ClimateSeed$16.0M90%
Carbon-Ion Energy, Inc.Energy / ClimatePre-Seed$1.4M89%
Clean Energy Technologies, Inc.Energy ConservationPre-Seed$8.8M88%
ARC Clean Energy, Inc.Other EnergySeries A$7.6M86%
Meridian Clean Energy, LLCOther EnergySeries A$51.1M84%
Clean Energy Technology CoOther EnergyPre-Seed$2.3M84%
Peak Clean Energy Holdings, LLCOther EnergySeed$23.5M84%
Sistine Solar, Inc.Other EnergySeed$32.3M83%
Frequently asked
How much funding has ION Clean Energy, Inc. raised?
ION Clean Energy, Inc. has raised approximately $74.4M in disclosed capital across 3 recorded financing rounds, aggregated from public filings.
What is ION Clean Energy, Inc.'s estimated valuation?
Provath's modeled valuation for ION Clean Energy, Inc. is approximately $624.4M (modeled range $249.0M–$983.1M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is ION Clean Energy, Inc. at?
ION Clean Energy, Inc.'s latest modeled financing stage is Series C. Its most recent recorded round closed around Fri Mar 29.
What does ION Clean Energy, Inc. do and where is it based?
ION Clean Energy, Inc. operates in the Environmental Services sector, based in BOULDER.
Explore related

See where ION Clean Energy, Inc. sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.

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