Diligence memo · auto-generated · as of July 2, 2026
Natron Energy, Inc.
Natron Energy, Inc. has raised $255M over 6 rounds; too few niche peers to rank its valuation yet.
Businessfiled
Natron Energy, Inc. operates in Energy / Climate, based in SANTA CLARA.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Natron Energy, Inc. has raised $255M in disclosed capital across 6 recorded rounds, aggregated from public filings. Its latest round is modeled as Series D+ (a $100M–$400M round).
Largest single filing: $189M on 2023-12-28.
Most recent recorded round closed around 2023-12-28.
Valuation (modeled)modeled
Provath models Natron Energy, Inc. at approximately $1.7B (range $998M–$2.5B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Historic cadence: a new round about every 22 months.
Last raise 2.5 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.
The last round stepped up 5.1× from the prior — scaling.
Comparablesmixed
Capital scale ranks ahead of 100% of Energy / Climate peers (235 compared).
Modeled value ranks above 99% of those peers.
Closest niche peers: Electric Hydrogen Co..
Peoplefiled
10 named people on file across officers, directors and signatories.
Risks & flagsmixed
Overdue for a raise versus sector norm — distress or bridge risk.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.