At Cititec, we talk for a living. That means we’re the first to hear about what’s going on in the commodities world. Here’s a rundown of the latest developments in the commodities space this June, including key funding updates, recent acquisitions, and new partnerships. Plus, check out the upcoming events you’ll want to keep on your radar for the month ahead.
News 📰
🇺🇸 The United States hit a new energy production record last year, generating over 103 quadrillion British thermal units, according to fresh data from the US Energy Information Administration. This tops the previous record set in 2023 by 1 percent.
🔵 Glencore-backed Cobalt Holdings scrapped plans for a $230 million listing on the London Stock Exchange.
💼 Jakob Sørensen will take over as CEO of Danske Commodities as of 1 September 2025 as Helle Østergaard Kristiansen, moves to a new job with the owner, Equinor. At the same time, she becomes chairman of the board at Danske Commodities.
🇨🇦 LNG Canada, led by Shell, has produced its first drop of liquefied natural gas for export at its new facility in Kitimat, British Columbia. Most of the gas is expected to head to Asia, as global markets keep a close eye on potential supply risks linked to tensions in the Middle East.
🌍 Global energy investment is on track to hit a record $3.3 trillion in 2025, according to the International Energy Agency, with investment in clean energy now drawing twice the capital of fossil fuels.
Deals 🤝
🤖 London-based PhysicsX, has raised $135 million in Series B funding. The company, co-founded by Robin Tuluie Ph.D. and Jacomo Corbo is using AI to transform engineering across sectors, including energy, where they will significantly accelerate design, manufacturing, and operations across energy generation, storage, transmission.
⚛️ German startup Proxima Fusion, co-founded by Francesco Sciortino and Lucio Milanese, has raised €130 million in Series A funding which is the largest private fusion investment round in Europe.
🌦️ Zurich-based Jua.ai, led by Marvin Gabler, has secured €11 million in Series A funding. The Swiss company has developed the world’s first large-scale physics AI model of the Earth, a digital twin of our planet. Their prediction engine delivers faster, more granular forecasts that align with the timing and needs of energy markets.
🔌 Californian startup Heron Power, founded by Drew Baglino, has raised $38 million in Series A funding to develop its Heron Link solid-state transformer. Transformers help control voltage so electricity can travel safely through the grid.
💡 Australian startup Termina, led by Michael Koopman, has raised $3 million in a pre‑Series A round. Its platform enables small businesses to band together to secure better energy prices, manage usage data, and track emissions.
🌩 Berlin-based trawa, led by David Budde, has secured €24 million in Series A funding to help European businesses cut electricity costs. Their software helps industrial and commercial clients analyse consumption, integrate battery flexibility, and optimise electricity portfolios.
🔗 UK-based Volteras, led by Peter Wilson, has raised $11.1 million in Series A funding to grow its platform, which connects electric vehicles, chargers, and home batteries. It helps companies manage their EV fleets more efficiently and supports the power grid by balancing demand.
☀️ Munich-based Co-Power, co-founded by Jan Krueger and Kilian Zedelius, has raised €6.4 million to help factories across Europe slash energy bills by up to 50%. The startup installs solar panels and battery systems directly on-site, at no upfront cost, and manages them so businesses benefit immediately.
⚡ Berlin startup Ostrom, co-founded by Karl Villanueva and Matthias Martensen, has raised €20 million in Series B funding to grow its smart meter network in Germany. Its app helps people track energy use in real time, link up EVs, solar panels and batteries, and save money by using cheaper, greener electricity.
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