The-Engine-Report.Pdf

04 Introduction

KATIE RAE, CEO & Managing Partner 06 08 Our Mission United Nations Sustainable Development Goals

06 What is Tough Tech? 08 Mapping Portfolio Companies across 07 Our Investment Areas UN SDGs 10 Mapping The Engine Initiatives across UN SDGs 12 66 The Engine Initiatives Portfolio Impact

14 Fostering 68 Climate Change Entrepreneurship 98 Human Health within Science & 122 Advanced Systems & Technology Infrastructure 38 Regional Development Encouraging 50 Commercialization of Tough Tech “ Core to our mission is helping incredible founders, ideas, and companies scale. To create lasting impact for the world, we must reach everyone.”

The Engine was spun out of MIT the entrepreneurial community fabrication, and of!ce space for 100 government contract to develop that has taken a tragic human toll in 2016, with the purpose of working across Tough Tech; scaling Tough Tech companies. And we and deploy its network of shoebox- and fundamentally altered the way supporting startups poised to create the diversity of backgrounds, continue to convene thousands of sized satellites to help us better we work and live. The pandemic has a material positive impact on society viewpoints, and approaches to people across the growing Tough understand and protect our world. only served to sharpen our collective and the environment. solving our biggest challenges; Tech community during our annual sense of urgency to discover scaling the jobs added to our region Tough Tech Summit, industry- We’re excited to apply the UN and commercialize Tough Tech We had a bold vision for the impact and the infrastructure that those speci!c Provocations, and other Sustainable Development Goals companies. This report puts the Tough Tech could unlock for the working on the toughest problems gatherings. to our portfolio of Tough Tech scope and scale of Tough Tech into world, but we could never have have access to; and scaling the companies. Inside, you’ll !nd an perspective and serves as a reminder predicted how these years would bene!ts to our community. To I’m both humbled and thrilled outline and analysis of how these of why we must continue to create play out. The past two years in create lasting impact for the world, by the progress of the Tough companies, as well as The Engine the frameworks to support those Katie Rae, particular, which this report will we must reach everyone. Tech companies in our portfolio. itself, !t into the established UN solving massive problems, through CEO & Managing Partner aim to detail, have shown us just Commonwealth Fusion Systems framework. the convergence of science and how widespread and systematic the That is what the past two years have published peer reviewed papers technology. We will continue on our challenges we face are, and why the been about. showing that their approach to The two years since our last report journey to do just that — we hope time to tackle them is now. limitless, net-energy fusion power is have been de!ned by a pandemic that you can join us. We recently launched a program likely to succeed. Biobot Analytics, We do this in a few key ways that called Blueprint, which increases E25Bio, C2Sense, and Vaxess leverage our proximity to the world the pipeline of academic Technologies are each working renowned research institutions researchers and post doctorates towards commercial diagnostic in our backyard: promoting who are ready to take the leap into and therapeutic solutions for “ The pandemic has only served to entrepreneurship within science entrepreneurship. We put forth COVID-19 and other conditions. and technology, commercializing policy recommendations for the Mori showed that its natural coating sharpen our collective sense of urgency Tough Tech, and fostering regional new administration to ensure we can extend the shelf life of fresh to discover and commercialize Tough economic development. are unlocking more innovation fruits, vegetables, and protein by Core to each of those tenets is that will bene!t the world. Our 25%-100%, drastically reducing Tech companies.” helping incredible founders, ideas, 155,000 sq/ft expansion project is food waste and the need for single and companies scale. Scaling well underway and slated to open use packaging. And Analytical the access to opportunities and in late 2022 with laboratories, Space recently received a signi!cant

4 THE ENGINE REPORT !"#$ & !"!" INTRODUCTION 5 Our Investment Areas

We look for impact across three general areas that will help the world OUR responsibly adapt to the growth and demands of tomorrow: MISSION Launched by MIT, The Engine that will accelerate progress toward bridges the gap between a healthier population, a more discovery and commercialization accessible and adaptive society, and by empowering disruptive a more resilient world. The Engine CLIMATE CHANGE HUMAN HEALTH ADVANCED SYSTEMS & INFRASTRUCTURE technologies with the capital, rewards con!dence and science with Mitigating, adapting to, Enabling a healthier Adapting and evolving knowledge, network connections, capital and access. and ultimately reversing global population through critical industrial and the specialized equipment and the universal crisis of the advancement of biotech systems that provide the labs they need to thrive. We bridge the gap between climate change, with new and life sciences, by backbone of advanced discovery and commercialization materials and processes developing foundational manufacturing and supply Tough Tech companies have by funding and opening access for to adjust energy sources, technologies to improve chains, the built historically been underserved ambitious Tough Tech founders, reduce carbon emissions, health diagnosis and environment, and space. and underfunded, leaving many making possible the future they and redefine energy treatment and application breakthrough inventions stuck want to see in the world. Our storage. of science-driven inside the lab. This is why we focus community makes impossible processes to ensure food exclusively on founders pioneering progress, achievable and the dif!cult security. technology with the genuine ability challenges, solvable. to transform the planet. Together, we identify and champion Everything we do is in the service of the advanced scienti!c foundation our founders and their work. required to connect, support, power, We focus on supporting the and protect tomorrow’s society and A Relationship founders building technologies environment. of Continued Support Tough Tech is transformative technology that We work closely with founders and + Investment and access to the right capital assets executives to help them scale and + Access to flexible infrastructure solves the world’s most important challenges grow their companies to accelerate + Ongoing connection to the right stakeholders across the path to market. capital, government and strategics through the convergence of breakthrough science, + Support on scaling the organization and finding the engineering, and leadership. right talent + Amplifying their stories and positioning them as leaders in their respective industries

6 THE ENGINE REPORT !"#$ & !"!" OUR MISSION 7 No Poverty Zero Mapping The Engine’s Portfolio across Hunger 01 the United Nations Sustainable Development Goals 02 Good Health & Well-being

03 Quality Education

ACHIEVING A BETTER Gender Equalilty AND MORE SUSTAINABLE 05 Clean Water & Sanitation FUTURE FOR ALL 06

The UN Sustainable Development Goals recognize that achieving a better and more A!ordable & Clean Energy sustainable future for all requires an integrated approach to solving a diverse set of issues 07 together. The Engine’s portfolio mirrors this approach and re"ects a broad set of impact areas as a whole.

We have mapped the portfolio against these UN SDGs to show how many challenges our Decent Work & 08 Economic Growth companies are working to tackle. For example, companies with a core focus on human health can still have an impact on climate change. This illustrates the ripple effects that will be created as this group continues to hit their impact milestones. That progress will be detailed in the portfolio section of this report. 09 Industry, Innovation, & Infrastructure

Boston Metal 10 CLIMATE CHANGE Cambridge Electronics Reduced Inequalities Commonwealth Fusion Systems Form Energy Lilac Solutions Quaise Syzygy Plasmonics Via Separations 11 Biobot Analytics Sustainable Cities HUMAN HEALTH Cellino & Communities E25Bio Kytopen Lucy Therapeutics Mori 12 Seaspire Skincare Responsible Consumption & Production Suono Bio Vaxess Technologies Analytical Space ADVANCED SYSTEMS & C2Sense 13 Celestial.ai INFRASTRUCTURE HyperLight Climate Action ISEE Radix Labs 14 RISE Robotics Sync Computing Life below Water The Routing Company 15 WoHo Zapata Computing 16 Life on Land 17

Peace, Partnerships Justice, & Strong for the Goals Institutions

8 THE ENGINE REPORT !"#$ & !"!" UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS 9 No Zero Poverty Hunger Mapping The Engine's Mission Driven Initiatives Across the United Nations 01 Good Health & Well-being 02 Sustainable Development Goals

03 Quality Education

Gender Equalilty THE ENGINE’S 05 INITIATIVES Clean Water & Sanitation 06 The United Nations Sustainable Development Goals (UN SDGs) were established in 2015 as “a shared blueprint for peace and prosperity for people and the planet, now and into the future.” They have since been adopted by all UN Member States.

A!ordable & Clean Energy 07 Throughout the life of our portfolio companies, we work to amplify their mission and help them scale, so that they can deliver impact to as much of the world as possible. The Engine has set up many specialized programs to help our companies scale, to reach our broader directive as an organization, create material positive impact on the world, and

Decent Work & ensure that we foster Tough Tech to equitably encourage entrepreneurship, help regional 08 Economic Growth economic development, and commercialize ideas that will change the world. In addition to mapping our portfolio, we mapped The Engine's own initiatives across the UN SDGs, as we hope that our values and efforts re"ect the change we want to drive for the world.

Industry, Innovation, 09 & Infrastructure

Blueprint FOSTERING ENTREPRENEURSHIP 10 Provocations Reduced Inequalities Tough Tech Summit WITHIN SCIENCE & TECHNOLOGY

Diversity, Equity & Inclusion

Marketing & Thought Leadership

Tough Tech Publications 11 Sustainable Cities & Communities

12 Space & Infrastructure Responsible Consumption & Production Talent REGIONAL DEVELOPMENT

Climate Action The Engine Network ENCOURAGING COMMERCIALIZATION 14 Government & Policy OF TOUGH TECH Life below Water The Engine Fund 15 The Engine Founders Programming

Capital Stack Life on Land 16 17

Peace, Justice, & Strong Partnerships Institutions for the Goals 10 THE ENGINE REPORT !"#$ & !"!" UNITED NATIONS SUSTAINABLE DEVELOPMENT GOALS 11 “ The Engine provides infinitely more than investment. You have a group of companies that are vibrating at the same IT’S OUR JOB TO wavelength, aligned to the same macro trends and same goals. We are working together in a way — we have the same greater purpose.” MAKE IT EASIER ! TADEU CARNEIRO, CEO, Boston Metal FOR TOUGH TECH TO

14 Fostering Entrepreneurship within Science & Technology 38 Regional Development CHANGE THE WORLD. 52 Encouraging Commercialization of Tough Tech

12 13 FOSTERING “ The Engine is one of the few firms that really walks the walk in early stage Tough Tech investing. They make high ENTREPRENEUR risk bets on technical founders whose ideas can make a massive impact, and then follow through with the guidance, SHIP WITHIN patience, and network connectivity needed to navigate a very complex path from lab to market.”

SCIENCE & ! ILAN GUR, CEO, Activate TECHNOLOGY At The Engine, we help shepherd work from the lab and academia to commercial 16 Blueprint reality. And we work to ensure the Toughest of Technologies and their potential are 20 The Engine Provocations highlighted, understood, and communicated to the world. Supporting the founders at the helm of the Tough Tech companies in which we invest is at the core of all we do. 22 Tough Tech Summit

28 Diversity, Equity, and Inclusion Discovery is just the start. Bringing new science and technology from the lab to market requires a unique set of skills coupled with an entrepreneurial drive. We’ve 30 Thought Leadership designed programming to foster these skills and showcase the potential of emerging ideas to a community that can help commercialize them.

14 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 15 “ The Engine has been a “ The Engine’s critical resource for our investments are driven early development. They by a mandate, not a provided us access to a particular vertical. I’m network and team that constantly using the accelerated customer interdisciplinary nature discovery, product- of the community to market fit, and helped our benefit.” us identify key opinion

! SHREYA DAVE, CEO & Co-Founder, Via Separations leaders in our industry.”

! CAMILLE MARTIN, CEO & Co-Founder, Seaspire Skincare

16 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 17 Blueprint A Tough Tech startup development program BLUEPRINT 2020 Tough Tech cannot remain in the lab. We must foster entrepreneurship in the students and researchers THE PROGRAM INSTITUTIONS who are bringing transformative technologies to life. + TECHNOLOGY RISK MITIGATION + EXPERIMENTATION PLANNING + MARKET DISCOVERY AND SELECTION + INTELLECTUAL PROPERTY + TEAM BUILDING + STORYTELLING

Blueprint is a two-month, non- “ I have spent a year trying to learn about starting a resident program for graduate company to get our technology to market. As well as students, postdocs, and research scientists to explore the commercial many individual conversations, I have been involved INSTITUTIONS opportunities of their scienti!c with the MIT Smart Start course, I-Corps, and 10 breakthroughs. CleanTech Open. While I certainly learned from all The program is designed to give of these, what I heard from [The Engine] today was future Tough Tech leaders the chance to learn the entrepreneurial much more on target to the issues we've identified!” process from those who are living it, as well as provide a platform to crystallize the commercial potential “ Blueprint was excellent and I am grateful for the role of participants’ startup concepts. institutions like The Engine play in supporting early Tough Tech businesses with potential to contribute significantly to a solution to the climate crisis. This is such an important need and I am optimistic it can make a big difference.” PARTICIPANTS VIRTUAL5 SESSIONS 18 THE ENGINE REPORT !"#$ & !"!" 24 FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 19 Provocation – Food & Agriculture

PROVOCATION NO. 3 MAY 3, 2019 Bringing ATTENDEES

ABDUL LATIF JAMEEL WATER AND FOOD Transformative SYSTEMS LAB !J"WAFS# AMAZON ANALYTICAL SPACE BARCLAYS BAYER LIFEHUB BOSTON BLUE APRON Food & Ag Tech BLUE DIAMOND FARMING COMPANY BRYANT AGRICULTURE ENTERPRISE CAMBRIDGE CROPS CARGILL CLOVER FOOD LAB 50+ 40+ DAILY TABLE to Market PARTICIPANTS BUSINESSES EFFEM EVERSOLE ASSOCIATES Areas of focus included food and The Engine Provocations EVONIK ag tech development frameworks, Provocations are built to convene. They provide FINISTERE VENTURES marketing and consumer FLAGSHIP PIONEERING perception, government subsidies a platform for stakeholders across an industry “Coming here, I had FOOD & CITY and regulations, and supply chain to wrestle with problems and ideas, uncover the FOOD"X optimization. We also asked the absolutely no idea challenges and opportunities they need to address, FORTIVE question, “What can food and ag FREIGHT FARMS industries learn from the innovation and make the connections they need to solve their that there were this FYTO and commercialization frameworks biggest challenges. GE VENTURES of big pharma?” many people in Cambridge, MA GINKGO BIOWORKS thinking about how farmers GREENLIGHT BIOSCIENCES IDEO “ It’s a really great group that The Engine has pulled together. like me grow crops, grow food, INARI Very diverse. Very unique perspectives.” INDIGO AG the systems we use to put it on MASSCEC MCKINSEY ! JON GIEBEL, Program Lead: Bayer LifeHub Boston, Bayer the table, how we market it, MIT NEW CROP CAPITAL how we fertilize it. Absolutely NEW HARVEST OLIVIA'S ORGANICS$STATE GARDEN “ Today was a really wonderful, thought-provoking event. I’ve flattering to know there are so ONE MIGHTY MILL had a lot of creative juices flowing — I’ve been thinking of a many people thinking about PAIRWISE lot of ideas about how technology affects the food and product SPOILER ALERT these issues.” STARBUCKS streams. I didn’t know what to expect coming here, but I’ve had SUSTAINABLE FOOD LAB a wonderful time and have learned so much.” TYSON FOODS ! BENJAMIN RIENSCHE, Owner & Manager, USDA$DOE ! KATE KRUEGER, Founder, Helikon Consulting Blue Diamond Farm WEBER SHANDWICK

20 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 21 Tough Tech Summit 2019 & 2020 Tough Tech Summit

Solving the world’s biggest problems For Tough Tech to succeed, it’s with Tough Tech requires building critical that discussions about a movement. We must unite those the technologies at play, the working towards change. stakeholders, the founders, and the ecosystems are dynamic, intersectional, and highly engaged. We think the Tough Tech Summit is the opportunity to make those connections and elevate the ecosystem’s work, as well as making the act of investing in, or working “ We have researched the on, a Tough Tech startup more mainstream. Tough Tech Industry at The Summit has, and will continue to be, a de!ning thread that pulls through the Tough Tech ecosystem. the Globe, and this We’ve intentionally designed a two- day Summit united by this single agenda. The Build day focuses on Summit has a huge how the ecosystem can better foster innovation and entrepreneurship and features case studies and impact on the entrepreneurial keynotes with those at the forefront of their discipline. The Invest day focuses on putting early-stage Tough Tech companies in front of community – the sharing of those with the resources to propel their technologies to the next level. ideas, practices, “ Solving the global-scale problems Tough Tech and knowledge is companies are tackling requires commitment and collaboration. The only way we solve fundamental unmatched for Tough Tech.” challenges in climate, human health, infrastructure, and computing is together.” ! LINDA HENRY, CEO & Managing Director of the Boston Globe; ! KATIE RAE, CEO & Managing Partner, The Engine Co-Founder, Hub Week; Board of Directors, The Engine

22 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 23 24 THE ENGINE REPORT !"#$%!"!" Tough Tech Summit 2019 Tough Tech Summit 2020

TOUGH TECH SUMMIT 2019 10.21.19 " 10.22.19 HOTEL COMMONWEALTH BOSTON,MA 10.27.20 " 10.28.20 STREAMING VIRTUALLY AROUND THE WORLD

Forging a Path Streaming Virtually for Tough Tech around the World

DAY 1 DAY 1 & 2 Build 500UNIQUE ATTENDEES Build & Invest 976UNIQUE ATTENDEES

SPEAKERS, MODERATORS, AND PANEL MEMBERS COVID-19 gave us the opportunity to host our !rst all-virtual Tough VINOD KHOSLA JAMES GERAGHTY Tech Summit. With no space RODNEY BROOKS JOHN SANTINI restrictions, attendance was double KEENAN WYROBEK JAK KNOWLES 123 107 the 2019 event. 326 160 JOY DUNN ILAN GUR TOUGH TECH INVESTORS INVESTORS TOUGH TECH GEOFFREY VON MALTZAHN SHANNON MILLER FOUNDERS Tough Tech Summit 2020 included ECOSYSTEM STAN LAPIDUS MATT VERMINSKI two !reside chats, six keynote JIM MATHESON ALBERT LEE conversations, and over 24 Tough NICK DECRISTOFARO KATIE BURKE Tech founder pitches over two days. MILO WERNER PATRICK SOBALVARRO MAX LOBOVSKY SANDRA GLUCKSMANN DAVIDE LAKATOS LOU COOPERHOUSE VERN BROWNELL RAMYA SWAMINATHAN 16 36 45 NED ALLEN TYLER ELLIS ANDY WHEELER BILLY WOODFORD MEMBERS OF ACADEMICS STRATEGIC GOV CORPORATES 10 47 MEDIA CORPORATE ORGANIZATIONS800+ 25 45 MEMBERS DAY 2 STRATEGIC GOVERNMENT Invest CORPORATES

SPEAKERS, MODERATORS, AND PANEL MEMBERS SPEAKERS, MODERATORS, AND PANEL MEMBERS

JOSH DEFONZO BRIAN KORB DAY 1 BUILD DAY 2 INVEST PETER HEBERT CHRIS PIKE ALÁN ASPURU"GUZIK ANDREW BEEBE 122 81 BIJAN SALEHIZADEH LIBBY WAYMAN PAT BROWN MEETA KAPADIA INVESTORS TOUGH TECH DAVID GAMMELL ORIN HOFFMAN ANN DEWITT JIM MATHESON FOUNDERS CHRISTINE BRENNAN TRAVIS MCCREADY ILAN GUR RYAN POPPLE DIPAL DOSHI DAVID STAPLETON JENNIFER HOLMGREN LILA PRESTON MATEO JARAMILLO JAMES ZAHLER TOM KALIL CARMICHAEL ROBERTS MAX PIERI TEX SCHENKKAN LAURA MAJOR WILL ROPER ANDREW BOYD ERIC TOONE MARIANA MAZZUCATO DIPENDER SALUJA KAREY BARKER BRAD RINGEISEN KATIE RAE LUCINDA SHEN JONATHAN HAUSMAN MATT ROGERS JONATHAN SOLOMON DAVID ROTMAN 17 32 JULIAN SPECTOR MEMBERS OF STRATEGIC REED STURTEVANT GOV CORPORATES

26 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 27 Diversity, Equity, and Inclusion Who you invest THE ENGINE PORTFOLIO COMPANIES: in matters.

Creating a more equitable and diverse world takes systemic change, an effort that must start as early 46% as possible. We want to broaden HAVE A FEMALE FOUNDER the scope of who has access to “ One study found that capital and who has access to the resources to make their dreams a reality — we know that incredible VC firms that increased change will result from that access.

A diverse portfolio of founders will their proportion of female hire a more diverse set of employees, they will partner with a more partner hires by 10% had diverse set of advisors, and they will bring new perspectives and approaches towards tackling soci- on average an increase ety’s biggest problems. of 1.5% in overall fund 75% 96% OF THE ENGINE PORTFOLIO COMPANIES OF THE ENGINE PORTFOLIO COMPANIES returns each year, as well HAVE A FOUNDER WHO IS FEMALE HAVE A FEMALE / URM ON AND/OR AN UNDERREPRESENTED THEIR BOARD OF DIRECTORS as 9.7% more profitable MINORITY "URM# exits. To put the latter finding into context, the same study noted that only 28.8% of all 54% 64% VC investments have OF THE ENGINE PORTFOLIO COMPANIES OF THE ENGINE PORTFOLIO COMPANIES HAVE A CEO/FOUNDER WHO HAVE A FOUNDER WHO IS AN IS AN UNDERREPRESENTED IMMIGRANT TO THE UNITED profitable exits.” MINORITY "URM# STATES

% VC HUMAN CAPITAL SURVEY: Third Edition; Deloitte, 2021 * Underrepresented minorities (URMs) include Asians/Asian Americans, Black/African Americans, Latinos, American Indians and Native Paci!c Islanders

28 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 29 Thought Leadership Showcasing Media the importance Exposure of Tough Tech THE ENGINE FEATURED IN HIGHLIGHTS INCLUDE: · Fund II Raise coverage to the world. in Harvard Magazine, TechCrunch, Forbes, MIT News Whether we are building The These stories help build awareness Engine’s brand or helping a of The Engine, Tough Tech, and portfolio company build theirs, our portfolio companies, which it all comes back to stories. We helps attract capital and talent and invest in marketing, design, and encourages company growth. Our

communications to help build marketing and communications 2020 PODCASTS: awareness of portfolio companies, efforts drive a virtuous cycle — by 1,335 position them as leaders in their investing in high-quality brand ARTICLES IN $%$% · Innovating with Scott Amyx, Katie Rae respective industries, and educate and design, we attract best-in-class · Build the Future, Katie Rae future investors, founders, founders, capital, and talent. This · Tough Tech Today with Meyen and public. creates a halo effect that can help and Miller, Orin Hoffman in"uence awareness, policy, and FEATURED IN · My Climate Journey, Katie Rae overall deal "ow. · Road Untraveled - VC Perspectives on Navigating COVID, Ann DeWitt

“ I've been very appreciative of The Engine encouraging and supporting HIGHLIGHTS INCLUDE:

certain workflows like branding and marketing. Without The Engine’s · Fortune: · Bloomberg TV: Katie Rae Profile help, we would not have undertaken a very successful rebrand.” 1,210 Interview with Ann DeWitt ! ADAM BEHRENS, CEO & Co-Founder, Mori ARTICLES IN $%&'

“ The Engine has the ability to take the founder's message and amplify it. The education the team has given me on how to do marketing and other related things has been amazing.”

! TREVOR BEST, CEO & Co-Founder, Syzygy Plasmonics

30 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 31 Thought Leadership

PORTFOLIO COMPANIES NOTABLE COVERAGE

FEATURED IN HIGHLIGHTS INCLUDE: 2020 " TECHCRUNCH · Biobot Analytics COVID-19 Deep tech VC fund The Engine raises coverage in New York Post, $230M for its second fund from MIT and Newsweek, LA Times, New new backer Harvard York Times, and more · E25Bio COVID-19 coverage in Scientific American, “ Technical risk is something Harvard Magazine, Yahoo News, and more many VCs like to avoid, but The Engine · Commonwealth Fusion Systems coverage in New York Times, has built an entire brand and thesis around Forbes, Science, and more. it. Centered around Kendall Square and · Form Energy partnership 9,630 with Great River Energy for the broader MIT ecosystem...Indeed, the ARTICLES IN $%$% their first pilot !rm’s portfolio page has to be one of the most interesting in the industry today.”

2020 " FINANCIAL TIMES

Venture Capital Investors Should Harpoon More Whales

“ VCs were all about funding tech breakthroughs but that has got lost,” she says. “A lot of VCs look more like private equity companies that do not want to lose any money so they end up backing FEATURED IN dog-walking apps rather than quantum computing.”

2020 " SCIENTIFIC AMERICAN

Who’s Brave Enough to Invest 7,010 in Saving the Planet ARTICLES IN $%&' HIGHLIGHTS INCLUDE: “ Researchers come to The Engine not because

· Portfolio companies they are trying to make a quick buck but funding announcements because they have an idea they can't bring · C&EN's 2019 10 Start-ups to watch including alive anywhere else,” DeWitt says: “They're Syzygy Plasmonics & Via Separations compelled into entrepreneurship because of · FastCompany most what they're trying to achieve.” Innovative Company: Analytical Space

32 THE ENGINE REPORT !"#$%!"!"!"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 33 Thought Leadership The Tough Tech Publications

Inspired by our portfolio companies showcase the breadth and depth of and the tides of the Tough Tech Tough Tech with accessible content ecosystem at large, we produce — interviews, independently bi-yearly printed publications researched articles, and analyses that are used to educate, foster by The Engine team — that is investment, and build meaningful ampli!ed across multiple platforms. relationships. These publications

PUBLICATIONS LIMITED-EDITION PRINT COPIES MARKET SURVEYS

THE FOOD & AG ISSUE Per publication THE INDUSTRY ISSUE THE AI ISSUE 450 14 THE CLIMATE CHANGE ISSUE • FOOD & AG ECOSYSTEM FULL LENGTH ARTICLES IN NEW ENGLAND 4 • THE FUTURE OF PROTEIN • THE AI INDUSTRY • GMOS & GENETIC • CARBON#FREE POWER ENGINEERING GENERATION • FOOD WASTE • LOAD FOLLOWING • ADDITIVE MANUFACTURING RESOURCES • DECARBONIZING INDUSTRY • CARBON CAPTURE • SYNTHETIC BIOLOGY • CARBON UTILIZATION • THE AI INDUSTRY & SEQUESTRATION • CLEANTECH !." • ALTERNATIVE PROTEINS 8 • PLANT GENETICS • WASTE REDUCTION INTERVIEWS • ELECTRIC VEHICLES • PLANT GENETICS • WASTE REDUCTION • ELECTRIC VEHICLES • AUTONOMOUS VEHICLES • ALTERNATIVE FUELS • MATERIALS 50+ • THE BUILT ENVIRONMENT 34 THE ENGINE REPORT !"#$ & !"!" “ The Engine invests in a “ As COVID-19 hit, we different kind of founder. had just closed our They are young, they're first round of funding. hungry. They're not like The entire team at The the seasoned vets that Engine worked with us at just look at a company as that moment to help us a cap table and a balance pivot to monitoring the sheet. They're people with pandemic. They stepped in dreams and ambitions and and helped us grow from they're doing this like me a team of five people to a — because they love it.” team of 30-plus.”

! TREVOR BEST, CEO & Co-Founder, Syzygy Plasmonics ! MARIANA MATUS, CEO & Co-Founder, Biobot Analytics

36 THE ENGINE REPORT !"#$ & !"!" FOSTERING ENTREPRENEURSHIP WITHIN SCIENCE & TECHNOLOGY 37 “ I’ve been inspired by The Engine’s success in driving regional innovation and entrepreneurship. The Engine’s team does it by identifying promising companies and accelerating the speed to market for their impactful solutions that have the potential REGIONAL to change our world. The unique mix of providing early capital, access to much needed startup infrastructure, and their network of savvy Tough Tech Founders DEVELOPMENT makes them an attractive partner. To have been on their journey with them since

Tough Tech has the potential to transform industries, create millions of inception has been beyond rewarding.” lasting and meaningful jobs, place anchor companies into communities, and contribute to regional economic development — both in our home in Cambridge and around the globe. ! SUE SIEGEL, Chair, Board of Directors, The Engine

We’ve intentionally developed a physical community at our headquarters in Cambridge. One that provides the space, equipment, and people necessary to bring Tough Tech to life with as few impediments as possible. This space, coupled with partnerships and connections across multiple local institutions, 40 Space & Infrastructure gives early-stage Tough Tech companies the opportunity to establish 44 The Engine Expansion themselves in the region and help cement the Boston metro area as a global hub for Tough Tech. 48 Talent

38 THE ENGINE REPORT !"#$ & !"!" REGIONAL DEVELOPMENT 39 501 Mass Ave, by the Numbers Space &

Various partner facilities At 501 Mass Ave, teams can and agile solution for real estate lets represented in The move in and get to work without a our teams stay in our region longer Engine Room. Infrastructure signi!cant up-front investment for and closer to the best resources space or equipment. The labs and and talent, their founding partners of!ces we provide are built out and at local institutions, and their COMMUNITY move-in ready. Providing a "exible investors. THE ENGINE SHOPS WET LABS ROOM 77COMMUNITY EVENTS 31BOARD MEETINGS 18,799MEETING "LUNCHES, HAPPY HOURS, HOSTED IN(HOUSE ROOM HOURS GAME NIGHTS, ETC# PIECES75+ OF EQUIPMENT 90+PIECES OF EQUIPMENT ENGINEROOM.XYZ PROVIDES ACCESS TO OVER PARTNERSHIPS

VISITORS7221 & GUESTS 200PEOPLE COMPANIES30 1,000+PIECES OF EQUIPMENT IN THE BOSTON METRO AREA

40 THE ENGINE REPORT !"#$ & !"!" REGIONAL DEVELOPMENT 41 Space & Infrastructure

“ The physical space at The Engine has helped us tremendously. Without it, we wouldn’t have had a place to build our satellites and an office to operate them from.”

! DAN NEVIUS, CEO & Co-Founder, Analytical Space The Engine's machine shop at 501 Mass Ave.

“ The Engine’s space was critical for us, having a place where you’re around a diverse and innovative community.” “Taking advantage ! CHRISTOPHER SAVOIE, CEO & Co-Founder, Zapata Computing of The Engine’s

The Engine's 4th "oor lab facilities. space and all the benefits that go along with it — maintaining a lab, cleaning, having space to work — is one of the best possible things an early-stage company can decide to do.”

! SHREYA DAVE, CEO & Co-Founder, Via Separations

42 THE ENGINE REPORT !"#$ & !"!" REGIONAL DEVELOPMENT 43 Renovating 501 Mass Ave To build more, they needed more space to build.

Images from The Engine's 501 Mass Ave expansion. In early 2018, we realized that to fully serve the companies in FROM 80/20 OFFICE/LAB SPACE ADDED 501 Mass Ave, we’d need to give them access to more lab and TO 70/30 OFFICE/LAB SPACE maker space. Construction began in late 2018 and was finished in May 2019. The result? The Engine added 2300 sq/ft of work 80 0FFICE LAB 20 space and converted nearly 4000 sq/ft to lab and shop space. As of January 2021, all labs are at 100% capacity. 0FFICE LAB +2300 70 30 SQ/FT WORK SPACE

ADDED ADDED CONVERTED +800 +600 +2600 SQ/FT BSL$ SQ/FT CHEM LAB SQ/FT SHOPS · &) BENCHES · &$ BENCHES · &+ BENCHES · * BSCS · $ FUME HOODS · ELECTRONICS LAB · MACHINE SHOP

44 THE ENGINE REPORT !"#$ & !"!" REGIONAL DEVELOPMENT 45 The Engine Expansion The Engine Renderings of The Engine's new buildings on Main Street, Expansion: Cambridge. Opening 2022

We broke ground on our expansion project in June 2019. The effort, to transform what once was a headquarters of The Polaroid Corporation into a 155,000 sq/ft Tough Tech hub, will take another two years. When open, the building will provide 100 companies and 1,000 people access to fabrication space, chemistry and biology labs, of!ce space, and more. 100 COMPANIES “ We have the chance to forge foundational infrastructure that can potentially change the geography of innovation. A thriving hub can propel the Boston region into the future as a magnet for 1,000 world-changing Tough Tech companies.” 155,000SQ/FT ENTREPRENEURS — KATIE RAE, CEO & Managing Partner, The Engine 46 THE ENGINE REPORT !"#$ & !"!" REGIONAL DEVELOPMENT 47 Talent Tough Tech takes talent.

Solving the world’s toughest problems requires teams of exceptional people. Wherever a Tough Tech company is based, those exceptional people will follow. We do everything we can to unite academia, industry, and entrepreneurially minded people to help the companies in which we invest grow their operations.

ALL THE JOBS. ALL IN ONE PLACE. Dynamically updated, jobs.engine.xyz unites all job opportunities within our portfolio companies making it easy for those searching for a career in Tough Tech to !nd and apply for positions. HIRING AND RECRUITING: PLAYBOOKS FOR EARLY- STAGE TOUGH TECH COMPANIES. Available to all portfolio companies, the hiring and recruiting playbooks provide the steps, and answer the questions, associated with building a world-class Tough Tech team. Each playbook was written by a team of founders and Tough Tech leaders with deep personal experience building and growing teams.

Topics include: + Crafting job listings & recommendations 12/31/19 12/31/20 + How to interview + When to use a recruiter + Diversity hiring + Setting compensation + Closing a hire + And more

“ The Engine’s network has been incredibly good for recruiting. Several executives were introduced to us by The Engine.” 300FULL TIME EMPLOYEES 620FULL TIME EMPLOYEES ! CHRISTOPHER SAVOIE, CEO & Co-Founder, Zapata Computing

48 THE ENGINE REPORT !"#$ & !"!" REGIONAL DEVELOPMENT 49 “ Tackling one of the most formidable challenges of our generation — the mitigation and reversal of climate change — takes more than just capital, ENCOURAGING but a network of like-minded and aligned investment partners. The Engine and Breakthrough Energy Ventures share a sharp focus on this important COMMERCIAL- issue and passionate commitment to backing amazing founders. Our collective efforts and coordinated IZATION support can help accelerate the speed and expand the scope of what these founders can achieve.”

OF TOUGH TECH ! CARMICHAEL ROBERTS, Business Lead, Investment Committee, BEV

54 The Engine Network Breakthrough technology should never remain stuck in the lab. 56 Government & Policy We help encourage the commercialization of Tough Tech through 58 The Engine Fund strategic partnerships, direct action, and fostering awareness at the highest levels of government. 62 Capital Stack

50 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 51 “ As our lead investor in the seed round, The Engine was instrumental “ The Engine has created in breaking down a network of highly apprehensions from other diverse, highly innovative investors in joining our individuals who really do cause. That was a pivotal believe that we all succeed moment that enabled the together or we do not company to take its first succeed at all.”

steps away from the lab ! AMY RIPKA, CEO & Founder, Lucy Therapeutics and into the commercial journey ahead.”

! CARLOS ARAQUE, CEO & Co-Founder, Quaise

52 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 53 The Engine Network It takes a The Engine Network to build Network a Tough Tech Programming

Business Development Day company. An invite-only event for Tough Tech companies and Strategic Corporates, featuring net- working time and one-on-one meetings.

A network is a powerful thing. We gies that may augment or build upon the lessons of existing large corpo- convene the investment, govern- the work of existing large corpora- rations and industry leaders. Where ment, regulatory, and corporate tions and/or policymakers; for these appropriate, the portfolio companies communities to help accelerate the new technologies to succeed, there should also tap into the work of these progress of those at the helm of has to be a clear pathway to commer- corporations through pilot projects early-stage Tough Tech companies. cialization and scale. and activities like prototype testing. Many of The Engine’s portfolio We believe that our portfolio com- 53 17 17 companies are working on technolo- panies can and should learn from &(ON(& DIRECT REQUESTS STRATEGICS MEETINGS FOR FOLLOW(UP / ACROSS INTROS INDUSTRIES PLATINUM MEMBERS GOLD MEMBERS

The Engine Network Tough Tech Talks

Founder Meetup Industry leaders, investors, and academics provide insight into how institutions and companies are Founders and executives have a chance to tackling the big issues at the heart of Tough Tech. connect and strategize.

“The Engine has been critical for our success since RESPONDING TO THE COVID"19 PANDEMIC MAY 27, 2020 company inception. The Engine has provided a The Engine Dinners JAMES COLLINS phenomenal ecosystem for Kytopen to grow and develop Leaders of government, industry, and !nance participate in collaborative themed dinners. FIONA MURRAY into a promising venture.” KATIE RAE MARIANA MATUS ! PAULO GARCIA, CEO & Co-Founder, Kytopen NICHOLAS THOMPSON % MODERATOR JAMES ROTHSCHILD % HOST

54 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 55 Government & Policy

A NATIONAL FRONTIER TECH PUBLIC"PRIVATE PARTNERSHIP TO SPUR ECONOMIC GROWTH Good policy “ Frontier tech startups can advance our nation’s future global competitive advantage, providing an opportunity to create high-tech and low-tech jobs and reshore other jobs. Coupling investment supports in the frontier tech innovation ecosystem with workforce training will allow the U.S. to reinvent and revitalize aspects of our declining or offshored industrial sectors and rebuild the country’s innovation. manufacturing capabilities.”

Addressing the world’s toughest breakthrough technology to com- Tech ecosystem. We also help indi- challenges is a complex systems mercialization to ethical, wide- vidual portfolio companies engage A FOUNDATIONAL TECHNOLOGY DEVELOPMENT problem, and private capital is just spread impact on our economies with the government on non-dilu- AND DEPLOYMENT OFFICE TO CREATE JOBS one piece of the solution. Realiz- and societies. tive funding and regulatory efforts. ing the full impact of Tough Tech “ The next administration should create a innovation requires public and We use our platform to push policy private collaboration to go from reform for the bene!t of the Tough Foundational Technology Development and Deployment Office within the Department of Commerce that retains "exible !nancing authority Advocates for positive Tough Tech policy to support market-pull programs for early-stage commercialization of innovative !rms.”

In early 2020, we teamed up with BUILDING A 21ST"CENTURY Building a 21st-century the former Secretary of Defense, AMERICAN ECONOMY American Economy

Ash Carter, and his team at the The Role of Tough Tech in The Role of Tough Tech in Ensuring Shared, Sustainable Prosperity

Harvard Kennedy Belfer Center, in Ensuring Shared, Sustain- November 2020 addition to the Day One Project, to able Prosperity think about how we could move the needle on Tough Tech Innovation “ It is vital to the future American at the policy level. We identi!ed public that we prioritize Tough several key areas that we feel are Tech innovation. If we start July 23, 2019 critical to making progress, which building here and now, all of our are captured in these reports: citizens and the rest of the world will bene!t, both economically The Director of DARPA and socially.” visits The Engine “ As the world confronts systematic, interrelated challenges from a Dr. Steven H. Walker, the Director of DARPA, visit- raging pandemic to devastating climate catastrophes to a growing ed The Engine for a discussion on the agency’s past, chasm of inequality, the United States has the opportunity to present, and future and the increasing role of public-pri- make deep commitments to new technological foundations that vate partnerships in Tough Tech. This event provided will usher in the next industrial revolution and greater shared early-stage companies with a direct look inside one of prosperity. Or, we can continue along a business-as-usual path, the U.S. government’s most in"uential proponents of ceding global leadership and the associated economic value Tough Tech. creation elsewhere”.

56 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 57 The Engine Fund

THE ENGINE LOOKS FOR 3 KEY INGREDIENTS WHEN MAKING AN INVESTMENT Investing in the A founding team with A groundbreaking A massive opportunity the drive and passion science or technology to transform an to fulﬁll their mission. solving a big global industry. world's toughest problem. problems.

TOTAL COMPANIES FUND I FUND II BEGAN MAKING TM FUND I & FUND II OVERVIEW INVESTMENTS FROM 28 27 $230M+ By the end of 2020 our COMPANIES IN COMMITMENTS funds had made investments * Final Fund size over $250M into 28 companies across Tough Tech

NON ATTRACTING MORE TOUGH DILUTIVE TECH INVESTMENT $88M 5.7 : 1 IN NON(DILUTIVE CAPITAL FOR EVERY ,&.%% THE ENGINE AWARDED TO OUR INVESTED, ITS PORTFOLIO COMPANIES SO FAR COMPANIES RAISED ANOTHER ,).-% FROM OTHER INVESTORS

58 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 59 The Engine Fund Portfolio Company Programming

Our portfolio company programming unite founders and leadership from + FOUNDER ANNUAL OFFSITE initiatives are designed to bring best- our portfolio companies to learn, + WORKSHOPS & LUNCHES in-class programming and resources share best practices, and solve + CEO, CTO(CSO DINNERS to Portfolio Companies. Workshops, common hurdles faced by early stage our annual offsite, and other meetups Tough Tech companies.

“ The Engine ecosystem — and the Boston The Engine’s Access site is a highly-curated, Tough Tech ecosystem at large — is full dynamic database of commonly used legal, of founders and talent going through the finance, and operation templates, helpful same sort of thought processes and the documents, and vetted vendors for Tough Tech experiences of building companies. You companies. By giving our portfolio companies access can find people that have gone through the to the right resources to support key business same stage that you’re at right now as an functions, including hiring, marketing, entrepreneur, whatever that stage is.” finance, board management, and real estate, we help ! BOB MUMGAARD, CEO & Co-Founder, Commonwealth Fusion Systems accelerate their growth.

“ I have standing check-ins with at least a handful of CEOs in the portfolio. I view them as my personal network now, as friends and otherwise. These connections are “ I see the programming as an opportunity to connect exceedingly important to the mental health and success with the community.” of leaders.”

! WILLIAM WOODFORD, CTO & Co-Founder, Form Energy ! ADAM BEHRENS, CEO & Co-Founder, Mori

60 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 61 Capital Stack

EQUITY AND CONVERTIBLE NON-DILUTIVE TOTAL VALUE OF ALL Harnessing DEBT RAISED* CAPITAL RAISED* PORTFOLIO COMPANIES* the Tough Tech $675M $88M >$1.6B capital stack. *As of 12/31/20

Bringing transformative technologies to life requires innovative WE HELP & SUPPORT PORTFOLIO COMPANIES: THE RISE OF TOUGH TECH capital solutions. + BUILD AN UNDERSTANDING OF THE FULL ARRAY OF CAPITAL INVESTORS ASSETS UNDER EVENT # JUNE 26, 2019 TOOLS AVAILABLE Increasing the quantity and diversity Showcasing a subset of Tough MANAGEMENT REPRESENTED of this capital is crucial to the suc- + CREATE AN OPTIMIZED CAPITAL PLAN Tech companies to key investors cess of Tough Tech’s most audacious from elite !nancial institutions + ENGAGE WITH CAPITAL PROVIDERS WHO CAN MEET THE ideas but requires a deep under- up and down the Capital Stack. standing of a company's techno NEEDS OF THE CAPITAL PLAN Leveraging our Capital Stack economic model and of capital tools platform to create a forum for op- + EXECUTE THEIR CAPITAL PLAN available. portunity, awareness, and dialogue 50+ VC between Tough Tech companies PRIVATE EQUITY The Engine's Capital Stack team By working one-on-one with our companies to help them navigate and and institutions looking to engage. INSTITUTIONAL INVESTORS >$4T works alongside our Founders to strengthen !nancing rounds, access non-dilutive options and consider CORPORATE INVESTORS develop and execute the !nancial exits, the Capital Stack Team can maximize returns and impact. roadmaps that will be crucial to their success. We have built and leveraged The Engine’s portfolio companies most commonly raise equity and a powerful network of capital provid- convertible debt to fund growth. We help founders look beyond those ers excited to help our founders meet vehicles to !nd more ef!cient capital for certain activities, ranging their capital needs. from equipment and lease !nancing, to sale leasebacks for property, to other strategies. Our companies have also been successful in securing 2019 TOUGH TECH LANDSCAPE non-dilutive capital, including grants from government, foundations, IN COLLABORATION WITH corporations, and academia. PITCHBOOK

In October 2019, we partnered with The report and the data within have “ The Engine played an important role in building PitchBook to shed light on Tough proven to be invaluable tools as we Tech investment, assess the trajecto- raise our second investment fund. an entire ecosystem of later-stage investors and ry of VC investment in the !eld over There is no longer any debate that the last few years, identify areas of investment momentum in Tough potential partners — we certainly benefited from particular excitement, and highlight Tech is only continuing to grow. such a community.” verticals that may need further support from investors, policymakers, ! MATEO JARAMILLO, CEO & Co-Founder, Form Energy and strategic engagement.

62 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 63 “ The Engine lives and breathes “ The Engine is the first the principles around the venture firm we've seen convergence of different disciplines, and that makes it that is truly investing in special. Not only do they have platforms and making industry-leading expertise in sure that we are not biotech and pharma, they also just focused on a single bring impressive background in software and hardware. Cellino product for commercial exists at the interface of all of sake, but truly utilizing these specialties, and we’ve the platform to solve as benefited greatly from having many problems with it as an investor like The Engine who we can.” speaks all of these languages.”

! MICHAEL SCHRADER, CEO & Co-Founder, Vaxess Technologies

! NABIHA SAKLAYEN, CEO & Co-Founder, Cellino

64 THE ENGINE REPORT !"#$ & !"!" ENCOURAGING COMMERCIALIZATION OF TOUGH TECH 65 68 Climate Change PORTFOLIO 98 Human Health IMPACT 122 Advanced Systems & Infrastructure

66 67 We work with companies that aim to mitigate, adapt to, and ultimately reverse the universal CLIMATE crisis of climate change with new materials and processes to produce CHANGE energy, reduce carbon emissions, and redefine energy storage.

68 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 69 “ Climate change is the human ingenuity and biggest issue of our innovation to make generation, but we can’t meaningful change. The let fear paralyze us into majority of emissions preserving the status have happened in a quo. We must use it as single generation; that a motivator... we should means we — the people look at this as an here now — can fix it.” opportunity to leverage

— BOB MUMGAARD, CEO & Co-Founder, Commonwealth Fusion Systems

70 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 71 CLIMATE CHANGE ! FORM ENERGY UN SUSTAINABLE DEVELOPMENT GOALS

THE PROBLEM there is a Form energy storage energy available year-round and FOUNDERS MATEO JARAMILLO, YET"MING CHIANG, TED WILEY, WILLIAM WOODFORD, MARCO FERRARA system — there will be a reliable extending transmission capacity BACKGROUND MIT DEPARTMENT OF MATERIAL SCIENCE AND ENGINEERING, 24M Utility-scale renewable energy source of jobs and positive impact without building new wires. TECHNOLOGIES, A123, TESLA ENERGY storage can only deliver power for on local industry. INDUSTRY ENERGY, ADVANCED MATERIALS up to 4 hours. Modular and scalable, the core THE BREAKTHROUGH technology behind Form’s storage The challenge at the heart of Form Energy has created a large- system can easily be tested and building a renewable energy grid scale, multi-day energy storage re!ned with signi!cantly less is not electricity generation, it’s system built with novel metal-air risk than other renewable energy BUILDING MULTI-DAY making those electrons at the right chemistry. The system uses low-cost, technologies that are much more time and in the right place. Current abundant materials that are available capital-intensive. The materials at renewable energy solutions like throughout the world. Form’s the heart of the system are readily solar and wind do not adapt well to systems can be located in any market available anywhere in the world, ENERGY STORAGE SYSTEMS changing load demands and they and scaled to match existing energy simplifying deployment logistics and do not produce any electricity if the generation infrastructure globally. further reducing barriers to adoption, sun does not shine or wind does They have the capability to reshape while keeping costs competitive with not blow. Reliable, dispatchable, the electric system, making renewable existing options. THAT WILL ENABLE A 100% multi-day energy storage is needed to bridge the gap between those downtimes and transition to a fully renewable grid. Such storage RENEWABLE GRID. is impossible with current Li-ion ELECTRICITY GENERATION THE POWER SECTOR HAS BEEN battery systems, which cannot deploy enough energy, for long DECARBONIZING AT enough, to meet demand.

THE IMPACT A 100% renewable grid will deeply affect us all. Such 3% decarbonization will eliminate 25%OF GLOBAL CO A YEAR SINCE !""' 10Gt of CO2 emissions per year — ! https://www.c2es.org/document/decarbonizing- EMISSIONS u-s-power/ or approximately 25% of all CO2 emissions worldwide. It will render thermal electricity generation from fossil fuels obsolete, providing us FORM ENERGY STORAGE SYSTEM with cleaner air, water, and land. The ubiquity of the materials used in Form’s system means that = 150HR POWER DELIVERY throughout the world — wherever CURRENT GRID STORAGE = $HR POWER DELIVERY

THE ELECTRICITY WORLD IS CHANGING, QUICKLY U.S. GENERATION BY SOURCE !""%#!"%& Source: IEA

60%

40% NATURAL GAS

COAL

20% NUCLEAR

WIND HYDRO SOLAR 0% 2002 2004 2006 2008 2010 2012 2014 2016 2018

72 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 73 CLIMATE CHANGE ! FORM ENERGY UN SUSTAINABLE DEVELOPMENT GOALS

DELIVERING BUILDING A 1MW “ At Form, we are a 150MWH PILOT PLANT bunch of modest folks Form Energy is partnering with storage system capable of delivering Great River Energy, the !fth largest its rated power continuously for 150 150 electricity generation cooperative in hours, far longer than the two-to-four the U.S., to deploy its energy system in hour usage period common among with immodest goals. HOURS OF CONTINUOUS POWER FROM AN AQUEOUS the !eld for the !rst time. The project lithium-ion batteries being deployed at AIR BATTERY SYSTEM. will be a 1-MW, grid-connected utility scale today. And we have a goal of WHAT KIND OF STORAGE WOULD IT TAKE TO POWER-PLANT SCALE REPLACE ALL THERMAL GENERATION? retiring all thermal COST OF RENEWABLE COST OF FIRMING THE COST OF ELECTRICITY SYSTEMS CAN INTEGRATE ENERGY RESOURCE THROUGH STORAGE PRODUCED BY BURNING INTO EXISTING ENERGY THINGS generation in the INFRASTRUCTURE WITH ZERO NEW WIRES. WIND SOLAR STORAGE GAS world and enabling renewables.”

RETIRING THERMAL — MATEO JARAMILLO, CEO & Co-Founder, Form Energy POWER GENERATION AND ENABLING RENEWABLES OPENS A $1T MARKET.

SOFTWARE TO ACCELERATE THE RENEWABLE TRANSITION Form Energy has also developed FormWareTM, a technology- agnostic software tool to help optimize and expand transmission capacity. The team built these modeling tools to accurately “ These are batteries unlike determine the impact of its platform. Available to commercial anything else you’ve ever customers, FormWare can help identify where a Form Energy storage system can make the most come across before.” impact and the speciﬁcations the system needs to do so. — MATEO JARAMILLO, CEO & Co-Founder, Form Energy

74 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 75 CLIMATE CHANGE ! COMMONWEALTH FUSION SYSTEMS UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS ZACH HARTWING, BRANDON SORBOM, MARTIN GREENWALD, DENNIS WHYTE, BOB MUMGAARD, DAN BRUNNER BACKGROUND MIT PLASMA SCIENCE AND FUSION CENTER ENERGY, ADVANCED MATERIALS

INDUSTRY Photo: Doug Levy for CFS CREATING SAFE, UNLIMITED, CARBON-FREE FUSION POWER FOR THE GRID

CFS team IN 10-15 YEARS. Working with HTS tape FUSION IS CLEAN ENERGY TO POWER THE PLANET AND

Photo: CFS Manufacturing magnet components COMBAT CLIMATE CHANGE at its Cambridge THE PROBLEM unlimited energy with zero carbon facility. emissions, forever. To put the ZERO CARBON Energy production is responsible power of fusion into perspective: for 25% of all GHG emissions. one glass of water contains enough fusion fuel for one person’s Climate change is the problem lifetime. Fusion energy represents DISPATCHABLE of the millennium. And energy one of the world’s best hopes to generation is responsible for more decarbonize the energy sector in climate-altering GHG emissions time to impact climate change. INEXHAUSTIBLE than any other sector — 25% of FUEL SUPPLY global emissions. Satisfying the THE BREAKTHROUGH world’s growing energy demands Commonwealth Fusion Systems is with clean limitless fusion energy using revolutionary new materials NO THREAT OF will rede!ne our relationship and technologies to develop a fusion MELTDOWN with electricity in every sense. It machine that is smaller, faster to will make traditional fossil fuel build, and easier to deploy than any power sources obsolete and stop other system under development.

NO LONG!LIVED gigatons of CO2 from entering our The team is pioneering a type of WASTE atmosphere, slowing climate change magnet built with high-temperature in one bold step. superconductors that will be used to con!ne a plasma in which fusion THE DEUTERIUM THE IMPACT occurs. CFS is integrating these new SOURCED FROM It is dif!cult to overstate the impact magnets into the proven tokamak ONE GLASS OF WATER = FUSION of net energy fusion power. When approach to fusion to create the FUEL FOR successful, Commonwealth Fusion fastest path to commercial fusion ONE PERSON’S Systems’ machines will provide energy. LIFETIME

76 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 77 CLIMATE CHANGE ! COMMONWEALTH FUSION SYSTEMS UN SUSTAINABLE DEVELOPMENT GOALS

ON TRACK TO “ Imagine the world in 2050. ACHIEVE POSITIVE Our vision is for 10,000 zero NET ENERGY carbon ARC fusion power FUSION IN 2025 plants delivering electricity to BUILDING A 20-TESLA the grid globally, meeting 20% LARGE!BORE MAGNET FOR DEMO IN "#"$ of humanity’s demand.”

! BOB MUMGAARD, CEO & Co-Founder, Commonwealth Fusion Systems LARGEST MAGNET OF ITS KIND IN THE WORLD SPARC COMPACT TOKAMAK MCF

SPARC Architectural WILL BE 50X SMALLER THAN ITER* rendering of proposed CFS campus. Rendering: CFS 4 DAYS: THE TIME IT

TAKES TO BUILD A NEW SCIENTIFIC PAPERS PREDICT HIGH TEMPERATURE HISTORIC RESULTS Seven papers published in the Journal SUPERCONDUCTING of Plasma Physics in September 2020 validated CFS’ approach to commercial fusion energy. According to a release MAGNET by CFS, they “are the ﬁrst peer reviewed publications from any private commercial fusion company that *ITER is an acronym for International veriﬁes a compact fusion device will Thermonuclear Experimental Reactor. It is achieve net energy where the plasma one of the largest construction projects in the world and, when complete, will have cost up to generates more fusion power than used $60B dollars. The project is funded by the EU, to start and sustain the process, the China, India, Japan, South Korea, Russia, and requirement for a fusion power plant.” the U.S.

78 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 79 CLIMATE CHANGE ! VIA SEPARATIONS UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS SHREYA DAVE, BRENT KELLER, JEFF GROSSMAN BACKGROUND MIT DEPARTMENT OF MATERIALS SCIENCE AND ENGINEERING INDUSTRY ENERGY, ADVANCED MATERIALS, ADVANCED MANUFACTURING Photo: Via Separations Via Photo: Separations Via Photo: DECARBONIZING

Via Separations targets energy intensive processes EVERY INDUSTRIAL at a paper mill, concentrating a stream called weak black liquor and improving the energy PROCESS. utilization of the process by 50%. THE PROBLEM

Industrial thermal separations account for 12% of all U.S. energy consumption. Or roughly the same amount of all the gasoline used for transportation in the U.S.

Photo: Via Separations Via Photo: INDUSTRIAL THERMAL As a society, we cannot get close to zero carbon emissions without SEPARATIONS ACCOUNT FOR decarbonizing the industrial sector. And there is one process that uses Via's CEO, Shreya Dave, returns from exploring installation locations at a pulp mill more energy than everything else: in Chile. separations. The reason why is simple — we use energy to heat materials and 12% boil off the unwanted components. products, Via can positively affect It’s like preparing pasta by boiling things that people use every day. off all the water in the pot, instead of pouring it through a strainer. THE BREAKTHROUGH OF ALL U.S. ENERGY Via Separation’s core technological CONSUMPTION. THE IMPACT breakthrough is its membrane — its Via Separations can reduce cost structure and its resilience. Normally, and increase the throughput of its when one thinks of !ltration customers, while simultaneously membranes, they are associated with reducing their energy water !ltration. Water provides a THE U.S. PULP consumption and emissions. membrane-friendly environment, Its technology makes just as unlike the hot and caustic AND PAPER much business sense as it does environments seen in chemical environmental sense, and therein processing plants and in the pulp and INDUSTRY USES lies its potential to change the way paper industry. manufacturing is done. APPROXIMATELY THE Via’s membrane is built from To Via, the pulp and paper industry graphene oxide that is both SAME ENERGY AS AS is a jumping off point to chemical inexpensive and robust. The manufacturing, which in"uences company can manipulate the size the production of semiconductors, of the links between the sheets ALL OF THE UNITED nylon, pharmaceuticals, and more. of the material, customizing the A component of Via's By giving foundational industries membrane’s pore size to !t the STATES AIR TRAVEL. modular !ltration a better way to manufacture their requirements of various applications. system.

80 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 81 CLIMATE CHANGE ! VIA SEPARATIONS UN SUSTAINABLE DEVELOPMENT GOALS

“We're transforming manufacturing “We're going to touch every ELIMINATE — one separation at a time.”

product that a person uses in TECHNOLOGY DEVELOPMENT SCALING MEMBRANE MANUFACTURING

In the past 3.5 years, Via ready to scale. They are shifting their day.” Separations has scaled its from a development-stage manufacturing capability organization to a deployment- 10,000,000X. stage organization. And their customers, faced with a dynamic % SHREYA DAVE, CEO & Co-Founder, Via Separations After developing its technology regulatory environment, are able OF THE ENERGY 90% in the lab for over three years, to see the economic value of CURRENTLY USED IN Via’s membrane material is now membrane separation. THERMAL SEPARATIONS.

REPLACING BOILING WITH MEMBRANES TO CUT 500M METRIC TONS OF CO2 EMISSIONS BY 2050. Photo: Via Separations Testing a separation PROCESS platform at Via’s in-house lab. COMPATIBLE WITH SEPARATION PROCESSES ACROSS MULTIPLE INDUSTRIES INCLUDING:

PULP AND PAPER

FOOD AND BEVERAGE

RECOVERY BOILER CHEMICALS

EVAPORATORS

SEMICONDUCTORS

VIA SEPARATIONS COMMERCIAL SYSTEM

VIA SEPARATIONS PHARMACEUTICALS PILOT SYSTEM

82 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 83 CLIMATE CHANGE ! BOSTON METAL UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS TADEU CARNEIRO, RICH BRADSHAW, ADAM RAUWERDINK, Steel ingots produced DONALD R. SADOWAY, ANTOINE ALLANORE, JIM YURKO by MOE cooling at its Woburn facility. BACKGROUND MIT DEPARTMENT OF MATERIALS SCIENCE AND ENGINEERING Metal Boston Photo: INDUSTRY ADVANCED MANUFACTURING, ENERGY

GREEN STEEL WITH THE PROBLEM Manufacturing steel produces

approximately 8% of global CO2 ZERO GREENHOUSE emissions. Emissions from steelmaking have reached epic levels — if the steelmaking industry were a GAS EMISSIONS. country, its emissions would be just behind the total emissions of the U.S. and China. If we are to have any hope of decarbonizing a warming world, we must start manufacturing green steel. THE BREAKTHROUGH THE IMPACT Boston Metal’s unique Molten We cannot run away from steel. Oxide Electrolysis process pairs It will continue to be necessary innovations developed at MIT for infrastructure, transportation, and best practices from the “ Boston Metal electronics — everywhere we look. In aluminum and steel industries. the future, every industry that works The technology uses an electrolytic is re-writing with steel will use a green version of cell that has three components: an the metal produced by companies anode, a cathode, and an electrolyte the book like Boston Metal. Technologies like — the inverse of a battery. The Molten Oxide Electrolysis will allow materials of these components of metallurgy.” us to meet the world’s insatiable allows ore to be separated into steel demand for steel, but with zero and oxygen with zero greenhouse — TADEU CARNEIRO, environmental downsides. gas emissions. CEO, Boston Metal

STEEL MANUFACTURING THE WORLD’S COAL ACCOUNTS FOR DEMAND FOR STEEL IS 2B TONS ANNUALLY, 75% =3 AND IS EXPECTED TO Pouring molten steel produced by OF THE STEEL SECTOR’S MOE at its Woburn GIGATONS GROW BY 25% IN facility ENERGY DEMAND. OF CO! EMISSIONS WORLDWIDE. THE NEXT 30 YEARS.

Photo: Boston Metal IEA (2020), Iron and Steel, IEA, Paris | https://www.iea.org/reports/iron-and-steell

84 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 85 CLIMATE CHANGE ! BOSTON METAL UN SUSTAINABLE DEVELOPMENT GOALS

MOLTEN OXIDE ELECTROLYSIS PRODUCES HIGH# “ Every bridge, every PURITY STEEL AND OXYGEN, NOTHING ELSE. building — everything we build — all the appliances

Testing electronic you have at home — Metal Boston Photo: components

BOSTON METAL IS REVOLUTIONIZING everything needs steel.” A ("""#YEAR OLD FORMULA. ZERO-EMISSIONS PRODUCTION — TADEU CARNEIRO, CEO, Boston Metal CARBON !COAL# CARBON DIOXIDE OF STEEL AND ALLOYS AT Fe203 + C = Fe + CO2 COMPETITIVE PRICES.

IRON ORE IRON

IRON ORE IRON ZERO WATER WASTE. 0% ZERO REAGENTS USED IN - PROCESSING. Fe203 + e = Fe + O2 MODULAR AND SCALABLE ELECTRICITY OXYGEN STEEL PRODUCTION IS LESS EXPENSIVE THAN TRADITIONAL BLAST FURNACES.

Pouring molten steel. Visualized through a thermal imaging camera. Photo: Boston Metal Boston Photo:

86 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 87 CLIMATE CHANGE ! SYZYGY PLASMONICS UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS TREVOR BEST, SUMAN KHATIWADA, NAOMI HALAS, PETER NORDLANDER BACKGROUND RICE UNIVERSITY, BAKER HUGHES INDUSTRY ADVANCED MANUFACTURING THERMAL CATALYSIS IS THE PROCESS OF USING HEAT TO PRODUCE CHEMICAL REACTIONS. RESPONSIBLE FOR ESSENTIAL FOR THE PRODUCTION OF:

PRODUCING PLASTICS FUEL HYDROGEN CHEMICALS USING CHEMICALS FERTILIZER 3.6% "AMMONIA# LIGHT TO REDUCE 1GT GLOBAL EMISSIONS

OF CO2 EMISSIONS BY Image: Syzygy Plasmonics Syzygy Gen 1 2040. reactor.

THE PROBLEM chemicals with far fewer greenhouse THE BREAKTHROUGH gas emissions. Rice University professors Naomi Making the chemicals that power Halas and Peter Nordlander invented our world emits massive amounts Syzygy light-powered reactors are the world’s most stable and active

of CO2. modular, built from lower-cost photocatalyst — the same catalyst materials, and have far milder that is at the core of Syzygy’s Powering reactions that produce operating conditions than their reactors. By modifying what the the chemicals directly accounts for traditional counterparts. This catalyst is made of, Syzygy can tune 3.6% of global GHG emissions. means the chemical industry, which various types of chemical reactions The problem stems from a process is currently reliant on massive, to produce a wide array of chemicals called thermal catalysis in which high-cost production plants, can — one catalyst platform, dozens of heat generated by burning fossil be decentralized, bringing the possibilities. The company’s unique fuels is used to trigger chemical production of chemicals physically reactor is engineered speci!cally reactions. Domestically, most closer to the end user, driving down for the catalyst and uses LED light thermal catalysis happens in the costs and emissions associated powered by renewable electricity as industrial-scale plants that are with distribution. its core energy source. scattered throughout the country. Transporting the foundational materials to other facilities is “ We care about emissions reduction. We come logistically challenging, expensive, and adds to their carbon footprint. into work every day because we believe that we can use Syzygy’s technology to dramatically THE IMPACT By replacing the heat in thermal reduce carbon emissions in the near term. If catalysis with LED light powered by renewable electricity, Syzygy we keep going at our current pace, I see that can perform reactions that produce we will have a huge impact before 2030.” materials and components of plastics, fuels, fertilizers, and other — TREVOR BEST, CEO & Co-Founder, Syzygy Plasmonics

88 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 89 CLIMATE CHANGE ! SYZYGY PLASMONICS UN SUSTAINABLE DEVELOPMENT GOALS

SYZYGY’S LIGHT#DRIVEN CHEMISTRY HAS DISTINCT “ We’re making a platform ADVANTAGES OVER THE STATUS QUO that can do many different CONVENTIONAL HEAT POWERED REACTOR SYZYGY’S LIGHT POWERED REACTOR

FEED IN FEED IN reactions. It eliminates the HIGH PRESSURE / MILD OPERATING HEAT HIGH TEMP CONDITIONS $FOSSIL FUEL% LIGHT $ELECTRICITY% EXPENSIVE METAL !"X CHEAPER METALS combustion of fuel. It allows CARBON EMISSIONS ALLOYS )ALUMINUM* FOSSIL FUEL COSTS RENEWABLE COSTS GOING UP GOING DOWN

all these chemical processes PRODUCT OUT PRODUCT OUT to run on renewables. It operates at low temperature, so it can be built out of ultra cheap materials like aluminum. And it is modular and scalable. The long-term potential for this technology is unprecedented.”

— TREVOR BEST, CEO & Co-Founder, Syzygy Plasmonics

REACTOR DEVELOPMENT MODULAR AND ULTRA PROGRESS ADAPTABLE, THE SYZYGY 2018 2019 2020 REACTOR CAN

PRODUCTIVITY MILLIGRAMS GRAMS 1KG · SPLIT AMMONIA FOR H! A visualization of a · SYNTHESIZE AMMONIA photocatalyst nano- ENERGY EFFICIENCY <1% ~30% ~50% · SPLIT HYDROGEN SULFIDE particle within a Syzygy reactor. · SPLIT NITROUS OXIDE DEVELOPMENT MICRO LAB SCALE PILOT · TRANSFORM GREENHOUSE LEVEL REACTOR REACTOR REACTOR GASSES Image: Syzygy Plasmonics · AND MORE...

90 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 91 CLIMATE CHANGE ! LILAC SOLUTIONS UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS DAVID SNYDACKER, NICK GOLDBERG, TOM WILSON BACKGROUND NORTHWESTERN UNIVERSITY INDUSTRY ADVANCED MATERIALS LITHIUM IS THE NEW GASOLINE EVS ARE TRANSFORMING THE LITHIUM MARKET LITHIUM EXTRACTION WITH A 99% SMALLER $4B $20B $120B FOOTPRINT, 90% LESS MARKET TODAY IN !"(" WITH %"", EVS

WATER USAGE, AND 80% ELECTRIC VEHICLE SALES LITHIUM TAM

120 GLOBAL SALES !MILLIONS# GLOBAL MARKET 2.5 !BILLIONS USD#

FEWER GHG EMISSIONS. 100 2.0

1.5

50 1.0

0.5 20

4 1 - 0

2013 2015 2017 2019 2015 2019 2030 100% EV THE PROBLEM and environmentally disastrous. Lilac’s ion exchange beads can The world needs a faster, more extract high-purity lithium from The world currently cannot meet ef!cient, and less environmentally volatile brine resources and be reused the predicted 30X increase in detrimental method of extracting multiple times. The Lilac platform demand for lithium to electrify the lithium if it is to electrify uses these ion exchange beads to TRANSPORTATION IS EVS ARE ESSENTIAL TO transportation sector. transportation at a large enough accelerate the production of lithium scale to make a difference. from years to hours, eliminating the RESPONSIBLE FOR MITIGATE CLIMATE CHANGE EV SALES HAVE Decarbonizing the transportation need for evaporation ponds. MANY MANUFACTURERS sector will require a seismic shift THE IMPACT HAVE THE GOAL OF towards electric vehicles. These By eliminating evaporation ponds, Lilac’s unique ion exchange process BEEN GROWING vehicles are powered by batteries Lilac’s platform protects fresh water helps recover lithium directly from made with lithium produced resources for the communities brine resources ef!ciently, affordably, primarily by evaporating lithium- surrounding lithium brine reservoirs, and in a fraction of the time of dense brine in massive evaporation reduces GHG emissions by 80%, traditional evaporative methods. 50% ANNUALLY ponds. Besides being potentially and will help accelerate the transition Their technology eliminates the 14% disastrous for local groundwater, to decarbonized transportation by need for evaporation ponds entirely. this production method is slow, providing a plentiful and affordable Lilac’s process is modular and can be OVER THE LAST costly, and will not come close to source of lithium to the producers of ramped up quickly through pilot and meeting the predicted 30X increase next-generation batteries. commercial projects. And their novel 100% OF ALL GHG EMISSIONS in demand for the metal. The other ion exchange beads can produce WORLDWIDE ELECTRIFICATION BY !"(+ DECADE method of lithium extraction — THE BREAKTHROUGH high-purity lithium from brine of hard rock mining — is expensive A breakthrough in material science, varying quality. Source: U.S. EPA

92 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 93 CLIMATE CHANGE ! LILAC SOLUTIONS UN SUSTAINABLE DEVELOPMENT GOALS

Laguna Verde, Salar de Atacama, A NEW LIFE FOR THE SOUTH AMERICAN Chile. LITHIUM INDUSTRY LITHIUM BRINE EXTRACTION Ten years ago, Chile was the Countries like Chile, Argentina, METHODS THAT ARE largest producer of lithium in and Bolivia have a tremendous Photo: Norberto Seebach Norberto Photo: the world. Over the past decade, opportunity to supply the world lithium production in Chile and with lithium and create wealth for across South America has failed to local communities in doing so. keep pace with demand driven by But they need new technology to the EV market. This is due, in large match demand. Lilac can supply part, to the ine.ciencies of current that technology. lithium brine extraction methods. 70-98% EFFICIENT INDUSTRY STANDARDS CONVENTIONAL PROCESS: EVAPORATION PONDS $", EFFICIENT

MG&CA BORON LIME REMOVAL REMOVAL LICL COMMERCIAL EVAPORATION PONDS PRODUCTION IN

LILAC'S PROCESS: PROPRIETARY ION EXCHANGE

LICL

Lilac founding team at its Oakland, CA 1/5 headquarters. (L-R) HCI Tom Wilson, Nick Goldberg, and Dave Snydacker THE TIME OF CURRENT METHODS

PRODUCTION COSTS OF “ Lilac unlocks new $3-$5/kg DRAMATIC REDUCTION production by expanding IN COST COMPARED TO CONVENTIONAL EXTRACTION reserves, streamlining TECHNIQUES MASSIVE IMPROVEMENT IN ENVIRONMENTAL PERFORMANCE LILAC CAN BRING A development, and PROJECT ONLINE IN 99% 90% 80% TWO YEARS, WHILE improving reliability.” SMALLER LESS FEWER EVAPORATION PONDS — DAVE SNYDACKER, CEO, Lilac Solutions FOOTPRINT WATER USAGE GHG EMISSIONS REQUIRE 5-10 YEARS.

94 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 95 CLIMATE CHANGE

NOVEL GALLIUM NITRIDE SEMICONDUCTOR TECHNOLOGY FOR MORE “ We have understood for many EFFICIENT 5G MOBILE years what the solution to the DEVICES, DATA CENTERS, AND ELECTRIC VEHICLES. climate crisis should include:

THE PROBLEM The poor energy ef!ciency of silicon (Si) semiconductor a patchwork of technology, chips is the most critical problem that prevents the wide adoption of 5G broadband services. The performance of the Si power management chips is also limiting the power delivery to microprocessors of datacenters, not only by DEVELOPING MILLIMETER investment, and regulation constraining the microprocessor performance per server but also by wasting about 15% of the electricity. Even WAVE DRILLING SYSTEMS electric cars have their range limited by the inef!ciencies of that depends on a diverse and today’s Si electronics. TO UNLOCK SUPERCRITICAL THE IMPACT GEOTHERMAL ENERGY motivated group of researchers, Signi!cant energy savings in diverse industrial sectors like 5G, data centers, renewable energy, manufacturing, EVERYWHERE IN THE WORLD. automotives, and consumer electronics. innovators, entrepreneurs, policy THE PROBLEM THE BREAKTHROUGH The world cannot transition away from fossil fuels with Overcoming the constraints of Si chips by developing a current technologies. This represents a monumental new generation of semiconductor devices and chips based unmitigated existential risk to life as we know it. makers, and business leaders on a revolutionary gallium nitride (GaN) technology. Using a novel three-dimensional structure, Cambridge THE IMPACT Electronics' GaN chips promise signi!cant performance Quaise unlocks the most abundant, ubiquitous, and from across the world. As we improvements in both 5G radios and the power electronics powerful clean energy source on Earth: supercritical in data centers and electric cars. geothermal energy. It represents a virtually in!nite supply capable of powering civilization for millennia. When the embark on a critical decade, this company succeeds, humanity gets a clear path to transition its global energy system while preserving its biosphere. group and its bold actions give THE BREAKTHROUGH It is Quaise’s novel drilling technology that makes its pursuit of limitless supercritical geothermal energy possible. Fifty years of nuclear fusion research and 100 me hope.” years of oil and gas activities provide the subsystems and operational and regulatory frameworks to bring Quaise’s drilling technology to life.

FOUNDERS & BIN LU, TOMÁS PALACIOS ! KATIE RAE CEO & Manging Partner, The Engine LEADERSHIP FOUNDERS & CARLOS ARAQUE, MATTHEW HOUDE, HENRY BACKGROUND MIT MICROSYSTEMS TECHNOLOGY LEADERSHIP PHAN, FRANCK MONMONT, PAUL WOSKOV LABORATORIES, MIT DEPARTMENT OF ELECTRICAL ENGINEERING AND COMPUTER BACKGROUND MIT SCIENCE INDUSTRY ENERGY, ADVANCED MATERIALS, ADVANCED INDUSTRY SEMICONDUCTORS, ADVANCED MATERIALS ENGINEERING

96 THE ENGINE REPORT !"#$ & !"!" CLIMATE CHANGE 97 Building from the deep biotechnology knowledge and leadership of the Boston community, The Engine embraces HUMAN founders on a mission to empower a healthy, vibrant world through the HEALTH convergence of biology, materials, engineering, and AI in creating foundational companies.

98 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 99 “ If we didn’t meet The for us. The Engine Engine in our nascent was the perfect place days as a company, for us because we Cellino would perhaps were encouraged to not exist today. They dream big to have a took me and Cellino meaningful impact on under their wings the planet. There is no during our technology other place like The incubation and team Engine, and we are buildout phase, which eternally grateful for was a period of immense what The Engine has creativity and growth done for us.”

— NABIHA SAKLAYEN, CEO & Co-Founder, Cellino

100 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 101 HUMAN HEALTH ! CELLINO UN SUSTAINABLE DEVELOPMENT GOALS

Selectively targeting FOUNDERS NABIHA SAKLAYEN, MATTHIAS WAGNER, MARINNA MADRID cells using the Cellino BACKGROUND HARVARD PHYSICS DEPARTMENT, HARVARD SCHOOL OF ENGINEERING platform. AND APPLIED SCIENCES !SEAS#, HARVARD MEDICAL SCHOOL INDUSTRY BIOTECH & LIFE SCIENCES, ADVANCED MANUFACTURING AUTOMATING PERSONALIZED MEDICINE TO CURE OUR TOUGHEST DISEASES.

THE PROBLEM damaged by disease. The problem software-driven, closed manner. Its lies with manufacturing those novel, multi-disciplinary approach Diseases like diabetes, heart healthy cells with the precision and has the potential to manufacture disease, and Parkinson’s claim scale necessary to treat millions personalized cell therapies at-scale nearly 750,000 lives per year in of patients. Currently, such for the !rst time. Progressing towards Image: Cellino Image: the U.S. alone. “manufacturing” is a slow, hands- scalable stem cell manufacturing is on, artisanal process that lacks the the only way to provide personalized We have the fundamental speed or magnitude to meaningfully cell therapies to all patients. technology to cure some of impact a sick population. humanity’s most devastating THE BREAKTHROUGH diseases. Induced pluripotent THE IMPACT In 2012, Shinya Yamanaka and 100M+ PATIENTS CELL-BASED THERAPIES stem cells, which are created by Cellino !lls a critical gap in the stem John B. Gurdon received the Nobel WORLDWIDE SUFFER reprogramming common skin, cell industry, the inability to make prize for “inducing” mature cells to blood, and hair cells to a stem personalized cells at scale. Cellino become stem cells. This discovery FROM DISEASES THAT cell state, are then transformed engineers personalize stem cells with made it possible to reprogram an into healthy cells to replace those laser-precision in an automated, easily-harvested cell (urine, skin, COULD BE CURED USING blood, or hair) to its stem cell state. 2012 REPLACEMENT CELLS AND INVENTORS OF INDUCED These stem cells can subsequently be 668 PLURIPOTENT STEM CELLS “ We have a diverse spectrum of human beings on turned into various cells and tissues TISSUES WIN NOBEL PRIZE our team, and the Cellino platform could produce of the body, giving humankind an CURRENT CELL-AND unlimited supply of patient-speci!c · ALZHEIMER’S cells for every one of us. Thinking outside the cells for therapeutic use. Cellino · PARKINSON’S box is the only way to disrupt the significant automates the engineering of these · VISION LOSS TISSUE-BASED · HEARING LOSS manufacturing bottleneck facing today’s cells using label-free imaging and high-speed laser editing. This · SPINAL CORD INJURY CLINICAL TRIALS personalized regenerative medicine industry.” approach allows thousands of patient · MUSCLE DISORDERS 2017 samples to be processed in parallel in · HEART DISEASE FIRST FDA#APPROVED GENE — NABIHA SAKLAYEN, CEO & Co-Founder, Cellino a single facility. · DIABETES THERAPY ON MARKET IN U.S. WORLDWIDE

102 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 103 HUMAN HEALTH ! CELLINO UN SUSTAINABLE DEVELOPMENT GOALS

Selectively targeting CELLINO’S MULTIDISCIPLINARY APPROACH cells using the TODAY, PERSONALIZED Cellino platform. CELL-BASED THERAPIES REQUIRE Cellino Image: MANUAL WORK BY A SCIENTIST COST OF PRODUCTION: $300k - $1M

CELLINO TO REDUCE COST BY

“ What happens if cells go 1X-2XORDERS OF MAGNITUDE IN NEXT %" YEARS awry and stop doing their important jobs? Patients develop diseases such as Parkinson’s, chronic heart disease, diabetes, or even blindness. Cellino is working

PATENTS PENDING ACROSS BIOLOGY, BIOENGINEERING, on cell-based therapies to HARDWARE/OPTICS,14 AND SOFTWARE/ML prevent and reverse these MANUFACTURING debilitating diseases.”

TISSUES WITH SINGLE- — NABIHA SAKLAYEN, CEO & Co-Founder, Cellino CELL PRECISION

104 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 105 HUMAN HEALTH ! MORI UN SUSTAINABLE DEVELOPMENT GOALS

THE PROBLEM longer — without the need for single- use plastic packaging. About a third of the food produced globally is wasted. THE BREAKTHROUGH A water-soluble powder made from 1/3 Aside from leaving people hungry, natural silk protein, Mori’s protective this waste is a leading producer of coating can be added whenever food all greenhouse gas emissions. And is being washed prior to sale. It’s the pandemic has made something designed to integrate seamlessly into OF THE FOOD abundantly clear: our food supply existing harvesting and distribution PRODUCED GLOBALLY chain is, in fact, not resilient. “We work"ows. IS WASTED. have more mouths to feed with a Source: UN FAO system that can break down when Silk has been engineered over disaster strikes. These problems millennia to preserve delicate require us to think differently about biological systems. Mori takes how we process, package, and advantage of silk’s natural qualities distribute our food,” says Adam by breaking down the cocoons Behrens. of Bombyx mori silkworms and harnessing their protective protein, $161B THE IMPACT which are eventually turned into a Mori will improve distribution and water-soluble powder, ready to be OF FOOD IS WASTED resiliency in the global food supply rehydrated and sprayed onto food. chain, which in turn will give more of ANNUALLY IN THE U.S. https://www.usda.gov/foodwaste/faqs the world access to safe and healthy food that will remain fresher for Testing its natural coating in the lab. FOOD WASTE IS THE It was Benedetto Marelli, a co-founder and professor at MIT, who ﬁrst noticed RD the preservative properties of the silk protein working in the Tufts University 3 LEADING GREENHOUSE Silk Lab. The same lab has also pioneered silk as a material to stabilize vaccines

Image copyright of Valery Rizzo / Offset.com / Rizzo Valery of copyright Image and medicines. GAS PRODUCER. Source: WWF.org

IN THE U.S. ALONE, FOUNDERS ADAM BEHRENS, SEZIN YIGIT, LIVIO VALENTI, THE PRODUCTION BENEDETTO MARELLI, FIORENZO OMENETTO OF LOST OR WASTED BACKGROUND MIT LABORATORY FOR ADVANCED BIOPOLYMERS, TUFTS UNIVERSITY SILK LAB FOOD GENERATES THE INDUSTRY FOOD & AGRICULTURE, ADVANCED MATERIALS EQUIVALENT OF A NATURAL COATING 37M CARS’ WORTH OF THAT REDUCES FOOD GREENHOUSE GAS EMISSIONS. https://www.worldwildlife.org/stories/ SPOILAGE AND !ght-climate-change-by-preventing- PACKAGING WASTE. food-waste Photo: Nathaniel Brewster for Mori Mori for Brewster Nathaniel Photo:

106 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 107 HUMAN HEALTH ! MORI UN SUSTAINABLE DEVELOPMENT GOALS

THE MORI SILK PROTEIN COATING IS ONLY MICRONS THICK, AN ALL-NATURAL NOT MUCH THICKER THAN A RED BLOOD CELL. “ We produce enough food to PROTECTIVE LAYER THAT SLOWS DOWN THE SPOILING feed the world — the ability to

PROCESSES ACROSS MORI SILK RED BLOOD CELL extend shelf life, and ensure FRUIT a resilient food supply chain, MORI’S COATING INCREASING THE SHELF LIFE OF MEAT can help us all have access to SEAMLESSLY INTEGRATES PRODUCE AND PROTEIN BY VEGETABLES WITH EXISTING SUPPLY food that is healthy and safe.” CHAIN PROCESSES. 25%-100% — ADAM BEHRENS, CEO & Co-Founder, Mori SEAFOOD WITHOUT THE NEED FOR SINGLE#USE PACKAGING.

KEEPING LEAFY GREENS WITH MORI WITH MORI FRESHER, FOR LONGER

Leafy greens like arugula or kale that once only lasted 14 days, can remain fresh for more than 20 days WITHOUT MORI WITHOUT MORI with Mori’s coating. By applying its natural silk protein coating to leafy greens like arugula, Applying its natural coating in the !eld. kale, and lettuce, Mori can improve product resilience and improve freight ef!ciency, lowering the reliance on a carbon-intensive cold chain. Mori is directly taking trucks off the road — which is good both economically and environmentally. And when the greens arrive at a packaging plant or in-store, they remain fresher for longer.

WITHOUT MORI 14 DAYS

WITH MORI 20 DAYS

LEAFY GREENS LIKE ARUGULA OR KALE THAT ONCE ONLY LASTED %$ DAYS, CAN REMAIN FRESH FOR MORE

THAN !" DAYS WITH MORI’S COATING. Photo: Mori

108 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 109 HUMAN HEALTH ! VAXESS TECHNOLOGIES UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS MICHAEL SCHRADER, KATHRYN KOSUDA, LIVIO VALENTI DAVID KAPLAN, FIORENZO OMENETTO BACKGROUND HARVARD BUSINESS SCHOOL, TUFTS UNIVERSITY SILKLAB THE TROUBLE WITH INDUSTRY BIOTECH & LIFE SCIENCES, ADVANCED MATERIALS, MANUFACTURING TRADITIONAL VACCINES & THERAPIES MAKING VACCINES 40-60% RADICALLY MORE EFFECTIVE

THE PROBLEM to vaccines. After a simple, quick REQUIRE and painless application of a EFFECTIVE AND Often, vaccination does not MIMIX patch, vaccine antigens REFRIGERATION provide a person with su!cient implanted in the skin are released protection from disease, or over a period of days to weeks to ACCESSIBLE VIA A EXPIRE IN WEEKS OR the vaccine is challenging to stimulate a more powerful and MONTHS transport, prepare, and administer durable immune response to !ght to people who need them, or both. diseases ranging from the "u to cancer. One application is all it SHELF-STABLE PATCH. Traditional needle and syringe takes to administer a vaccine, and administration of vaccines produce administration can happen wherever MUST BE suboptimal immune protection. A people are – at home, at work, follow-up booster and/or annual and in remote or under-resourced ADMINISTERED booster injections are often necessary, communities – giving more people but patient re-visits to clinics are the opportunity to get successfully TM BY HEALTH The MIMIX patch delivers notoriously inconsistent and result vaccinated. medicines and vaccines through silk in ineffective vaccination. Delicate tips that dissolve at a precise rate in PROFESSIONALS the skin, releasing their treatment therapies like vaccines have a THE BREAKTHROUGH at its most effective dose for the · AFFECTED BY LABOR short shelf life, typically requiring At the heart of Vaxess therapies is the most effective length of time. SHORTAGES refrigeration or freezing until arriving immunological concept of infection · CANNOT BE SELF# at a clinic for administration to a mimicry — the process of activating ADMINISTERED person. Preparing and administering the immune system in a way to fool these vaccines by syringe requires the body into thinking a vaccine a trained medical professional in is actually an infection. This type a clinical setting, and injections of activation triggers a much more OFTEN REQUIRE cause discomfort for the patient and potent immune response, boosting problems with sharps disposal. In ef!cacy rates of vaccines like those MORE THAN ONE DOSE combination, these factors mean that for seasonal "u. Vaxess uses a vaccinations are not reaching as specialized delivery system called · STUDIES SHOW A SIGNIFICANT PATIENT many patients as they could, and that the MIMIX Patch to administer DROP#OFF FOR SECOND problem only intensi!es as resources therapies. This patch contains DOSE are constrained. hundreds of microneedles consisting of proprietary formulations of THE IMPACT silk-and-therapeutic tips mounted Vaxess Technologies is producing on proprietary dissolving bases. patch-based therapies that are Within minutes of a MIMIX patch shelf-stable, easily administered, topical application, the needle base and proven to be more effective than dissolves, the patch is peeled off, and those administered traditionally. left behind is the implanted slow- 2M+ MIMIX smart-release therapies can release tip – a sustained delivery not PEOPLE DIE YEARLY FROM be used across a range of different possible with other technologies. DISEASES FOR WHICH products, from small molecules

Rendering: Vaxess Technologies THERE ARE VACCINES Source: WHO

110 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 111 HUMAN HEALTH ! VAXESS TECHNOLOGIES UN SUSTAINABLE DEVELOPMENT GOALS

MIMIX TM microneedles made MIMIX COVID-19 MIMIX SMART-RELEASE from silk !broin (shown signi!cantly enlarged). THE ONLY SINGLE#DOSE, SHELF#STABLE, SELF#APPLIED SARS# COV#! VACCINE CANDIDATE THERAPIES MIMIC INFECTIONS TO PRODUCE Photo: Vaxess Technologies “ COVID-19 has highlighted the A POWERFUL AND DURABLE challenges in getting vaccines IMMUNE RESPONSE into the world quickly. Our IN PRECLINICAL STUDY

platform solves this problem by · REQUIRES ONLY A enabling single dose vaccines SINGLE DOSE · $%X ANTIBODIES TO that are shelf stable, and it can NEUTRALIZE HIV

be mailed directly to people's · &%X T(CELL houses for self administration.” RESPONSES “ The company is working — MICHAEL SCHRADER · *X PROTECTION AGAINST FLU on a long term solution · Compatible with any SARS-CoV-2 antigen, proteins, killed viruses, mRNA, and VLP PROTECTION AGAINST FLU · Single Dose: Enhanced immune response to addressing COVID as it · Dose-Sparing: Less is needed to trigger immune response MIMIX GOAL · Shelf-Stable - no cold chain required: Years of room-temperature storage · Self-Applied: No sharps or specialized equipment transitions from a pandemic

$ 80% & * EFFECTIVE to an endemic concern. We

5 MIN MINIMUM MIMIX VACCINES ARE SHELF believe there will be a need for STABLE FOR YEARS · COMPATIBLE WITH SMALL a regular seasonal vaccination. MOLECULES, VACCINES, AND A Silk cocoons, RANGE OF OTHER THERAPIES the natural raw · ELIMINATE NEEDLE AND material for the Our approach to addressing MIMIX patch. SYRINGE AWARDED GRANTS BY U.S. this is to combine a seasonal GOVERNMENT AGENCIES & PRIVATE FOUNDATIONS flu vaccine and COVID vaccine · DARPA · NIH · NSF in a single, shelf-stable dose.” · BARDA · NASA · BILL AND MELINDA GATES — MICHAEL SHRADER, CEO & Co-Founder, Vaxess Technologies Photo: Vaxess Technologies FOUNDATION

112 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 113 HUMAN HEALTH ! BIOBOT ANALYTICS UN SUSTAINABLE DEVELOPMENT GOALS

FIRST COMPANY IN THE WORLD TO COMMERCIALIZE DATA FROM SEWAGE incomplete pictures make it dif!cult for public health of!cials to stay ahead of what’s coming and to react appropriately to ongoing threats BIOBOT’S like the COVID-19 pandemic or the opioid epidemic. PLATFORM CAN DETECT THOUSANDS OF BIOMARKERS THE IMPACT Wastewater epidemiology saves OF HUMAN HEALTH lives. Biobot will help public health of!cials at every level — # SARS#COV#! from states to cities, towns to # ZIKA corporate campuses — proactively # ANTIBIOTIC RESISTANT BACTERIA address their community’s # HEPATITIS C wellbeing with anonymous data # POLIOVIRUS derived from wastewater. The # PHARMACEUTICALS & OTHER DRUGS system can measure infectious # NICOTINE diseases, drug consumption, # ALCOHOL antibiotic resistance, nutrition, # ENVIRONMENTAL CONTAMINANTS and exposure to environmental contaminants. In the future, wastewater epidemiology infrastructure will exist in every city and every town. A permanent wastewater epidemiology infrastructure across America will FOUNDERS MARIANA MATUS, NEWSHA GHAELI enable us to be proactive in our WASTEWATER BACKGROUND MIT global response to thwart the next INDUSTRY BIOTECH & LIFE SCIENCES. AI & ML, DATA SCIENCES infectious disease outbreak before EPIDEMIOLOGY REVEALS it becomes an epidemic. THE TRUE SCOPE OF PUBLIC “We aim to create a health HEALTH PROBLEMS A Biobot sampling database that is independent from kit being deployed in hospital reporting systems, free the !eld. from societal biases affecting who PROACTIVELY can and can’t seek care, and most importantly, rapidly adaptable to WASTEWATER new and emerging public health IDENTIFYING PUBLIC threats,” says Mariana Matus. ANALYSIS THE PROBLEM THE BREAKTHROUGH CAN DETECT Many public health problems are Born out of research at MIT, HEALTH PROBLEMS identiﬁed only after they have Biobot’s core technology uses a spread too far. combination of sensors and data BIOMARKERS OF A analysis techniques to extrapolate Not everybody that is sick visits a the scope and scale of public DISEASE 7-10 DAYS THROUGH SEWAGE hospital. Not everybody that has health concerns from relatively a drug issue goes to rehab. The small samples of wastewater. BEFORE SYMPTOMS reasons why are many, but the result The approach directly measures is the same — an incomplete metabolites, viruses, and bacteria ANALYSIS. picture of community health. These excreted by humans.

114 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 115 HUMAN HEALTH ! BIOBOT ANALYTICS UN SUSTAINABLE DEVELOPMENT GOALS

IN MARCH !"!", “ With Biobot, public health 446 COVID#%& CASES officials can stay ahead of OFFICIALLY REPORTED what’s coming and adjust BIOBOT DATA ESTIMATED 2,300 – 115,000 CASES OVER SAME TIME their treatment strategies PERIOD

accordingly.” DATA REPRESENTS 13% OF

— MARIANA MATUS, CEO & Co-Founder, Biobot Analytics U.S. POPULATION & 5% OF THE CANADIAN POPULATION

Early in the pandemic, Biobot OUR COVID#%& TESTING Analytics launched a pro-bono PRESENCE COVID-19 testing campaign. Over the course of the campaign, 1,835 samples were tested, the equivalent of administering 442 million tests based on the populations these facilities serve. The campaign is the largest of its kind conducted worldwide to date.

The company’s unique platform technology allows local governments ESTIMATED and institutional clients to detect POPULATION SERVED spikes in virus concentration that preempt case testing data by 3-7 days, giving them more time to 5K 500K 2M 5M 11K take action.

REOPENING CORPORATE AMERICA STARTS WITH WASTEWATER 360 43 EPIDEMIOLOGY WASTEWATER FACILITIES STATES & PROVINCES Biobot’s wastewater testing system is modular and scalable. It can easily be deployed at the building or campus level, giving companies the ability to contain the spread of COVID-19 even if those in the building are asymptomatic. As of February 2021, multiple entities from the U.S. government and Fortune 500 1835 182 companies have used, or are using, SAMPLES TESTED LOCAL AGENCIES Biobot’s technology.

116 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 117 HUMAN HEALTH

DEVELOPING AFFORDABLE, USING A UNIQUE SIMPLE, AND SCALABLE MITOCHONDRIAL-BASED DISEASE DETECTION APPROACH TO DISCOVER TOOLS FOR EVERYONE IN NEW WAYS TO TREAT THE WORLD. DISEASES OF THE BRAIN. PIONEERING A NEW THE PROBLEM THE PROBLEM Current testing paradigms for detection of infectious Treatments for our most insidious neurodegenerative CATEGORY OF MULTIFUNCTIONAL diseases such as COVID-19, the "u and other vector- diseases remain elusive, even after decades of research. borne diseases such as Dengue and Zika are expensive, These diseases are caused by more than genetics — the MATERIALS WITH EXTENSIVE time-consuming, centrally-managed, and highly interplay between mitochondria and the nucleus of cells inef!cient. This often results in delayed results and has been under-appreciated. IMPLICATIONS FOR HUMAN spread of the disease due to the lack of quick diagnostics.

THE IMPACT HEALTH AND ENVIRONMENTAL THE IMPACT Lucy Therapeutics generates drugs which improve E25Bio believes in the decentralization and SAFETY. overall mitochondrial control and will address the key democratization of testing; every person should have IMPROVING PATIENTS’ LIVES aspects of neurological impairment, ushering in an era of access to diagnostic testing — anywhere, anytime. THE PROBLEM meaningful treatments for diseases like Rett Syndrome, E25Bio’s rapid tests give consumers actionable More than 70% of suncare products contain chemical THROUGH AUTOMATED CELL Alzheimer’s, and Parkinson’s. information in minutes, not days, thus empowering them UV-!lters that have been reported to disrupt the to take control of their health faster than ever before. endocrine system. These chemical UV-!lters can ENGINEERING. THE BREAKTHROUGH degrade into harmful byproducts that remain in the Lucy Therapeutics is selecting drug targets based on THE BREAKTHROUGH bloodstream up to 24 hours after a single application a deep understanding of the crossover chemical and E25Bio has developed rapid antigen tests for detection THE PROBLEM at concentrations that exceed safe levels. There is an biological interplay at work in neurological diseases. It of infectious diseases such as COVID-19, Dengue, Zika, Engineered cells hold the potential to save lives and cure urgent need for new ingredients and formulations that has linked neurodegenerative disease to dysfunctional and others. These tests produce results in about 10-15 some of our toughest diseases, but manufacturing them is are safe and effective at maintaining skin health in the mitochondria in neurons and is pioneering a new class of minutes without the need for any expensive equipment. currently a slow, laborious, and expensive process. face of environmental stressors. treatments designed to address such dysfunction. As of today, the company has regulatory approval in the EU in partnership with Perkin Elmer to distribute their THE IMPACT THE IMPACT COVID-19 tests and in Colombia for the Dengue test. With Kytopen’s platform, more people will have access Seaspire will expand the availability of natural ingredients to life-saving engineered cell therapies. Its platform will that can be used to prevent skin damage and cancers accelerate time to clinic (avg. 6 month time savings), caused by environmental pollutants such as sunlight, reduce manufacturing timelines (from ~1 month to days), smog, blue light, and oxidation. Its natural ingredients and reduce the overall cost of developing therapies. will not adversely affect marine life or the environment.

THE BREAKTHROUGH THE BREAKTHROUGH Kytopen has invented a new method of introducing Seaspire discovered that cephalopod-derived genetic material into cells using continuous processing Xanthochrome can function as an SPF-booster, and electro-mechanical energy. This approach results UV-!lter stabilizer, and antioxidant with activity that in highly functional and healthy engineered cells in a rivals Vitamin C and E but with increased stability. fraction of the time and at a higher volume than other Xanthochrome outperforms current active ingredients methods. found in OTC skincare products in performance, safety, aesthetics, and function. FOUNDERS & PAULO GARCIA, CULLEN BUIE LEADERSHIP FOUNDERS & AMY RIPKA FOUNDERS & PRASHANT CHOUTA, BOBBY BROOKE LEADERSHIP FOUNDERS & CAMILLE MARTIN, LEILA DERAVI LEADERSHIP HERRERA BACKGROUND MIT DEPARTMENT OF MECHANICAL LEADERSHIP ENGINEERING BACKGROUND UNIVERSITY OF WISCONSIN"MADISON, BACKGROUND HARVARD, MIT, BERKELEY THE SCRIPPS RESEARCH INSTITUTE BACKGROUND NORTHEASTERN UNIVERSITY INDUSTRY BIOTECH & LIFE SCIENCES, ADVANCED INDUSTRY BIOTECH & LIFE SCIENCES MANUFACTURING INDUSTRY BIOTECH & LIFE SCIENCES INDUSTRY BIOTECH & LIFE SCIENCES

118 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 119 HUMAN HEALTH

DELIVERING DRUGS TO THE “ The ambition of these GASTROINTESTINAL TRACT MORE EFFICIENTLY AND EFFECTIVELY USING A NOVEL teams to superpower PLATFORM TECHNOLOGY. some of the biggest unmet THE PROBLEM Ulcerative colitis impacts almost 1M patients in the U.S. alone. Poor treatment options lead to exorbitant medication spending in excess of $10B annually. needs in empowering

THE IMPACT Suono Bio is pioneering a platform technology for local, ultra-rapid administration of therapeutics in the GI tract human life will have that can deliver 10X the drug in only one minute. Suono can also deliver nucleic acids (e.g., mRNA) which today can't be delivered to the GI tract. global impact. They THE BREAKTHROUGH The company’s core technology leverages low-frequency ultrasound. Suono’s founding team demonstrated that through an ultrasound-induced phenomenon known as implicitly embrace the transient cavitation, drugs are gently "pushed" into the tissue, achieving ultra-rapid delivery of therapeutics. responsibility we have to elevate one another, and we are truly proud to support and accelerate their missions.”

FOUNDERS & CARL SCHOELLHAMMER, ROBERT LANGER, GIO LEADERSHIP TRAVERSO, SCOTT KELLOGG, ALBERT FARINHA ! ANN DEWITT, General Partner, The Engine BACKGROUND MIT DEPARTMENT OF CHEMICAL ENGINEERING

INDUSTRY BIOTECH & LIFE SCIENCES

120 THE ENGINE REPORT !"#$ & !"!" HUMAN HEALTH 121 The Engine backs companies that address the demands of tomorrow. They are building new technologies that enable industries like computing, communication, ADVANCED and manufacturing to be more efficient, productive, SYSTEMS & and inclusive. They are adapting and evolving critical industrial systems INFRASTRUCTURE that provide the backbone of advanced manufacturing and supply chains, the built environment, and space.

122 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 123 “ I’m motivated by the The industry we’re in size of the impact is not one that can be the communion of disrupted in a weekend technology, bold ideas, with a website or an app. and flawless execution It’s one that requires can bring to an industry. commitment. But with I’m passionate about that commitment comes scaling innovation. massive opportunity around the world.”

— ISRAEL RUIZ, CEO & Co-Founder, WoHo

124 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 125 ADVANCED SYSTEMS & INFRASTRUCTURE ! ANALYTICAL SPACE UN SUSTAINABLE DEVELOPMENT GOALS

A rendering of an THE PROBLEM Analytical Space Fast Pixel cubesat IMAGING SATELLITES LIKE GPS, in orbit. Remote sensing satellites lack basic connectivity in orbit. We need real- GENERATE DATA TO GEOSPATIAL time imagery from space to keep the HELP ADDRESS SOME INTELLIGENCE WILL planet safe and prosperous. Advances in AI/ML have enabled new OF THE WORLD’S BE EMBEDDED IN applications for remote sensing satellite data, and these new applications — MOST PRESSING ALMOST EVERYTHING in disaster response, climate change monitoring, and defense — are fueling CHALLENGES WE DO ON EARTH demand for data-intensive imagery. To get that imagery to the ground, in real time, the world needs orders of FOOD & WATER magnitude more downlink capacity. But SECURITY there’s a big problem: remote sensing satellites spend 70% of their time in 919 communications blackout zones. And ACTIVE REMOTE when they are in the proper positions CLIMATE CHANGE MONITORING SENSING SATELLITES for downlinks, their data rate is slow, IN ORBIT leaving vital information about the surface of our planet stuck in space.

DISASTER THE IMPACT Greater visibility of the surface of the Image: Analytical Space Analytical Image: RESPONSE >$100B Earth, in real time, will help keep the planet safe and prosperous. This SPENT BUILDING & visibility will help accelerate disaster NATIONAL DEPLOYING THESE relief, more ef!ciently monitor large- FOUNDERS DAN NEVIUS SECURITY SATELLITES scale agriculture, optimize logistics, BACKGROUND PLANETARY RESOURCES, WHITE HOUSE, HARVARD HBS monitor and act on the effects of climate INDUSTRY SPACE, INTERNET OF THINGS change, and more.

THE BREAKTHROUGH Analytical Space is building a network of small data relay satellites in low- CONNECTING SPACE REMOTE SENSING earth orbit so we can access data from SATELLITE remote sensing satellites anytime, SATELLITES SPEND anyplace, faster than ever before. This COMMUNICATION in-orbit communication infrastructure, TO EARTH 24/7 TO dubbed the Fast Pixel Network, is backwards compatible with existing IS SLOW: HOURS imaging satellites, while also pushing the boundaries of the technology that can be HELP US BETTER TO DAYS FROM placed on new satellites (e.g. hybrid RF 70% and optical data network technologies). IMAGE REQUEST As satellite technology has miniaturized UNDERSTAND AND and associated launch costs have shrunk, it is possible for Analytical Space to put OF THEIR TIME IN TO IMAGE an entire satellite network into orbit for COMMS BLACKOUT less than the costs of a single cutting- ZONES PROTECT OUR WORLD. DELIVERY edge imaging satellite. The economics of NewSpace also mean that there will be more satellites, with greater imaging capabilities, than ever before.

126 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 127 ADVANCED SYSTEMS & INFRASTRUCTURE ! ANALYTICAL SPACE UN SUSTAINABLE DEVELOPMENT GOALS

RESPOND TO EVENTS AS THEY PROGRESSION OF FAST PIXELSM SOLUTION LOCAL ORBITAL GLOBAL “ There is a massive HAPPEN FAST PIXEL FAST PIXEL FAST PIXEL CONTINUOUS demand for advanced LOW-LATENCY LINK TO THE GROUND satellite imagery for disaster response, climate change

Dan Nevius, Analytical Space CEO & Founder, in the company’s monitoring, defense, and satellite command >100X room at The Engine. REDUCTION IN TIME FROM IMAGE REQUEST more. And we’re satisfying TO DELIVERY ZERO COMMS that unmet need for data BLACKOUT ZONES throughput and low latency.”

— DAN NEVIUS, CEO & Co-Founder, Analytical Space MORE DATA = MORE INFORMED 6X AMOUNT OF DATA DOWNLINK CAPACITY

CAPABILITY EVOLUTION # LOCAL FAST PIXELSM

ASI DOWNLINKS ASI CROSS!LINKS CLIENT CLIENT IMAGES ASI LEAD 5 WITHIN SAME 4 TO TRAILING 3 CROSS!LINKS TO 2 OVER COMM 1 SATELLITE COMM CONE RELAYS ASI AT END OF CONE TASKS CLIENT IMAGING CONE

Assembling a prototype satellite OCEAN LAND in its Cambridge 70% OF EARTH’S SURFACE 30% OF EARTH’S SURFACE facility. Photo: Nathaniel Brewster for Analytical Space

128 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 129 ADVANCED SYSTEMS & INFRASTRUCTURE ! WOHO UN SUSTAINABLE DEVELOPMENT GOALS

THE PROBLEM THE IMPACT company is planning to build lean, WoHo will usher in a future modular factories that balance The housing industry is in crisis of attainable, sustainable, and automation and handwork close to with scarcity of labor, higher uncompromising living and working construction hubs, simplifying the prices, fragmented supply chains, spaces. As Israel Ruiz, WoHo’s CEO, logistics, lowering the costs, and and high demand. notes: “WoHo is building the new reducing the environmental footprint generation of intelligent, safe and of its buildings. The team likens its Most large-scale construction sustainable spaces. We are raising WoHo Production System (WPS) projects start from a blank slate, with the standards and expectations for to the automotive industry, with its each step making the !nal product how buildings are created. WoHo network of value-add suppliers and more expensive and less impactful. is changing how we design and assembly lines, with their optimized This broken process limits what we construct our world — so that interplay between human and can do to solve the housing crisis everyone wins.” machine. As of this report, WoHo has and how ef!ciently we can create completed a pilot factory in Madrid, functional spaces like of!ces and THE BREAKTHROUGH where all critical components have labs. The construction industry WoHo integrates techniques, been prototyped. The team is now hasn’t seen signi!cantly improved processes, and approaches from invested in Project One which productivity in more than 60 years — different disciplines to solve some involves the development of their !rst it is fragmented, inef!cient, and due of the fundamental problems in fabrication facility and residential for disruption. construction in a new way. The building in Massachusetts.

WOHO PRODUCT ARCHITECTURE “ We are experiencing an MODULE unprecedented need to find new ways to build quality, affordable, sustainable housing, as cost and

First prototype design, built and KIT OF PARTS time efficiently as possible.” SERVICE BOX manufactured in WALL ELEMENT Madrid, Spain — ISRAEL RUIZ, CEO & Co-Founder, WoHo de-risking product, costs, materials, and timeline. IN THE NEXT BY 2025,

FOUNDERS ISRAEL RUIZ, DÉBORA MESA, ANTÓN GARCÍA"ABRIL WINDOW FRAME SLAB ELEMENT BACKGROUND MIT, ENSAMBLE STUDIO INDUSTRY ADVANCED MATERIALS, ADVANCED MANUFACTURING KIT OF PARTS MULTIMODAL UNIT OF TRANSPORTATION 20-30 1.6B YEARS, WE WILL NEED PEOPLE COULD !X THE NUMBER OF STRUGGLE TO SECURE BUILDINGS THAT ADEQUATE, SAFE AND CHANGING HOW WE CURRENTLY EXIST AFFORDABLE HOUSING THE CONSTRUCTION

DESIGN AND CONSTRUCT · WoHo elements are designed for SECTOR HAS DECLINED IN ultra efficient logistics. . WoHo's sustainable high PRODUCTIVITY BY 10-20% 200K performance concrete elements IN THE LAST 20 YEARS PEOPLE MOVING TO OUR WORLD. are designed and engineered URBAN AREAS EVERYDAY for efficient living and optimal constructability. Source: Modular Construction: From Projects to Products; McKinsey & Company, June 2019

130 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 131 ADVANCED SYSTEMS & INFRASTRUCTURE ! WOHO UN SUSTAINABLE DEVELOPMENT GOALS

WoHo Fabrication WOHO SUITE !RESIDENTIAL" space in Madrid, Spain where they CONFIGURATIONS TO SERVE ADDRESSABLE MARKETS manufacture, LOWERING THE COSTS assemble, and test. OF CONSTRUCTION BY

SUITE SUITE SUITE SUITE SUITE SUITE 8' 16' 8'+16' 32' 8'+16'+8' 48'

150 NSF 300 NSF 450 NSF 600 NSF 600 NSF 900 NSF 175 GSF 350 GSF 525 GSF 700 GSF 700 GSF 1050 GSF 200 SGSF 400 SGSF 600 SGSF 800 SGSF 800 SGSF 1200 SGSF 20%+ SHRINKING PROJECT DELIVERY TIME BY 50% “ WoHo is building the new generation of intelligent, safe, REDUCING THE and sustainable spaces. We ECOLOGICAL FOOTPRINT OF BUILDINGS BY are raising the standards and expectations for how buildings are created. WoHo 70% is changing how we design IMPROVING PROJECT and construct our world — so PREDICTABILITY that everyone wins.” AND CONSTRUCTION — ISRAEL RUIZ, CEO & Co-Founder, WoHo QUALITY

132 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 133 ADVANCED SYSTEMS & INFRASTRUCTURE ! HYPERLIGHT UN SUSTAINABLE DEVELOPMENT GOALS

FOUNDERS MIAN ZHANG, MARKO LONCAR, CHENG WANG THE PROBLEM learning, and more. It will make the BACKGROUND HARVARD UNIVERSITY LABORATORY FOR NANOSCALE OPTICS U.S. DATA CENTERS The data centers in and out of which connections between data centers, INDUSTRY SEMICONDUCTORS, ADVANCED MATERIALS, ADVANCED MANUFACTURING all the world’s digital information industries, of!ces, and homes faster CONSUMED 90B "ows are quickly reaching limits of and more capable. speed and energy consumption. A KILOWATT-HOURS OF signi!cant component of the problem THE BREAKTHROUGH ELECTRICITY IN 2017 Wafers of is the material (silicon) used to convert Through work out of the Laboratory HyperLight’s unique Lithium Niobate the electrical signals of the computers for Nanoscale Optics at Harvard chip-scale electro- to optical signals that are transmitted University, HyperLight’s founding optic modulators. through !ber optic cables. Without team discovered a method of signi!cant innovation in material fabricating thin lithium niobate !lm ef!ciency, the quantity of data and the modulators with extremely low signal 34 transmission speed of that data will loss. This fabrication method was the COAL#POWERED quickly reach a performance ceiling. !rst of its kind in the world. PLANTS WORTH OF HyperLight realized that the POWER THE IMPACT integrated optical modulator devices The connections between our most made using their ultra, low-loss fundamental technologies rely on chips could meet the growing market a device to convert signals between demand for ultra high-performance, DATA CENTER POWER electricity and light waves at high yet cost-effective optical solutions. speeds: the electro-optic modulator. CONSUMPTION Until now, electro-optic modulators were the technology of major telecom installations. HyperLight has developed chip-scale electro-optic 3% modulators, the !rst of their kind ALL ELECTRICITY anywhere in the world. These chips, ON THE PLANET and the techniques to harness the true potential of lithium niobate, will help use tomorrow’s data for

new modeling-heavy approaches Prototype electro- optic modulator to arti!cial intelligence, machine prepped for testing. 2% OF TOTAL GHG REDEFINING THE EMISSIONS Photo: HyperLight 100M POSSIBILITIES OF THE METRIC TONS OF CO! IN !"!"

www.vxchnge.com/blog/growing-energy- WORLD’S COMMUNICATION demands-of-data-centers INFRASTRUCTURE WITH ULTRA-HIGH-SPEED, LOW- 80B CONNECTED DEVICES POWER CIRCUITS. IN THE WORLD BY !"!+ Photo: HyperLight

134 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 135 ADVANCED SYSTEMS & INFRASTRUCTURE ! HYPERLIGHT UN SUSTAINABLE DEVELOPMENT GOALS

HARNESSING THE SUPERIOR WORLD RECORD REDUCING DATA CENTER PROPERTIES OF LITHIUM TRANSMISSION POWER CONSUMPTION BY NIOBATE “ The demand for data is not UP TO ULTRA-EFFICIENT slowing down. It's accelerating, ELECTRO-OPTIC MODULATOR: 700GBITS PER SECOND OVER %"KM and we expect that demand to NEGLIGIBLE LIGHT OPTICAL FIBERS WITH A SINGLE MODULATOR AND A 30% LOSS OVER ONE METER SINGLE PHOTODETECTOR keep growing, driven by the “ The Engine allows founders to rapid evolution of AI and other decide what is the best interest for data-intensive platforms.” their company. There is not a sense — MIAN ZHANG, CEO & Co-Founder, HyperLight of artificial pressure.”

— MIAN ZHANG, CEO & Co-Founder, HyperLight

HyperLight’s unique Lithium Niobate Photo: HyperLight chip architecture.

136 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 137 ADVANCED SYSTEMS & INFRASTRUCTURE ! ZAPATA COMPUTING UN SUSTAINABLE DEVELOPMENT GOALS

THE PROBLEM

Classical computers lack the power to solve the most important problems in science and industry.

Many of the world’s toughest problems — things like route optimization, chemical interactions, material simulation and climate modeling — require a specialized type of data-intensive modeling to solve. A quantum computer, with its unique method of computation, can handle this type of modeling exponentially faster than a classical computer. Programming a quantum computer is unlike any other type of computer programming — it requires Diagram from a Zapata paper: “Generation of High-Resolution Handwritten Digits a special team of scientists and with an Ion-Trap Quantum Computer.” collaboration with those developing Published December 25, 2020. quantum hardware.

THE IMPACT Quantum computing will rede!ne “ Quantum-optimized our understanding of, and ability to simulate, challenges like climate modeling to ef!ciently combat supply chains should climate change; materials discovery to create new medicines and green also reduce the carbon chemicals; arti!cial intelligence and its ability to think like a human; and more. Zapata Computing footprint for entire is engineering and perfecting algorithmic approaches to those challenges in collaboration with FOUNDERS ALÁN ASPURU"GUZIK, YUDONG CAO, PETER D. JOHNSON, JONATHAN industries… Optimizing P. OLSON, JHONATHAN ROMERO FONTALVO, CHRISTOPHER SAVOIE quantum hardware engineers. As BACKGROUND HARVARD DEPARTMENT OF CHEMISTRY, UNIVERSITY OF TORONTO quantum hardware continues to DEPARTMENT OF CHEMISTRY routes by just 5% of progress in capability and reliability, INDUSTRY QUANTUM COMPUTING Zapata’s algorithms will be there, U.S. freight trucks alone ready to solve the unsolvable.

THE BREAKTHROUGH would reduce carbon Zapata Computing was born out of QUANTUM SOFTWARE TO pioneering work in Alan Aspuru- emissions by roughly Guzik’s lab at Harvard University. Its scienti!c founding team has literally 22M tons each year.” written “the book” on the techniques SOLVE OUR MOST COMPLEX and approaches that the team has commercialized. 25 quantum — CHRISTOPHER SAVOIE, CEO & Co-Founder, scientists and engineers have Zapata Computing produced over 495 peer-reviewed PROBLEMS. [“How Quantum Computers Could Cut Millions of Miles from Supply Chains and publications in the discipline — they Transform Logistics”https://www.forbes.com/sites/forbestechcouncil/2021/02/05/how- quantum-computers-could-cut-millions-of-miles-from-supply-chains-and-transform- are teaching the world how to best logistics/?sh=47d7cb7925a9] program a quantum computer.

138 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 139 ADVANCED SYSTEMS & INFRASTRUCTURE ! ZAPATA COMPUTING UN SUSTAINABLE DEVELOPMENT GOALS

The Zapata Computing founding team (L-R) Christopher Savoie, Peter D. Johnson, Alán Aspuru- Guzik, Jhonathan Romero Fontalvo, Jonathan P. Olson, Yudong Cao.

PEER497#REVIEWED QUANTUM INFORMATION PUBLICATIONS

PROBLEM TYPES: INDUSTRIES: · OPTIMIZATION · AEROSPACE & AUTOMOTIVE · AI/ML · BIOPHARMA · CHEMISTRY · FINANCE & INVESTING · SIMULATION & MODELING · LOGISTICS · MATERIALS · OIL & GAS QUANTUM27 SCIENTISTS AND ENGINEERS

“ I deeply believe that quantum BRINGING QUANTUM ALGORITHMS TO LIFE software will affect all of

humanity. Many of the big “ Orquestra is the platform problems that we need to solve that allows require the type of predictive us to take our unique quantum modeling quantum computing algorithms and apply them excels at — things like climate to mathematical problems in a change, global pandemic real environment response, anything that and business scenario.” Zapata partners with quantum the strengths of each device across involves massive models.” — CHRISTOPHER hardware companies to optimize the the full range of quantum technologies, SAVOIE, CEO & performance of their quantum devices including classical quantum circuit Co-Founder, with Orquestra. The company has the simulators, superconducting qubits, — CHRISTOPHER SAVOIE, CEO & Co-Founder, Zapata Computing Zapata Computing algorithms and techniques to leverage and ion traps.

140 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 141 ADVANCED SYSTEMS & INFRASTRUCTURE

MINIATURIZED, MOBILE POWERING AUTONOMOUS SENSING SOLUTIONS MACHINES THAT THRIVE FOR A HEALTHIER AND ALONGSIDE HUMANS, SAFER WORLD. SEAMLESSLY AND SAFELY IN THE PROBLEM ANY ENVIRONMENT. Important molecular information is hidden in the air we breathe, the food we eat, the products we buy, and the medicines we take. Outdated sensing solutions and slow, THE PROBLEM costly, lab-based analyses limit rapid and wide-spread Autonomous vehicles cannot fully predict unexpected access to these invisible chemical signatures. As a result, behavior, resulting in increased risk and slow rollouts critical information on diseases, toxins, and product of new technologies. Industries that can bene!t from integrity has remained under-reported and inaccessible. CREATING THE MOST autonomous vehicles, like logistics, remain hamstrung by MAKING COMPLEX LAB Until now. the lack of capability in current options. IMPACTFUL AI COMPUTING WORK RADICALLY SIMPLE THE IMPACT THE IMPACT Built on a foundation of research and development SOLUTIONS FOR THE BENEFIT ISEE AI enables "exible autonomy. Designed to interact BY UNITING SCIENTISTS from MIT, the technology developed by C2Sense has a with human environments, its AI nimbly adjusts to the wide range of applications including sensing platforms OF HUMANITY. unexpected, delivering the versatility needed to automate AND LAB MACHINERY to monitor air, food, and water quality, diagnostic tools complex operations without disruption. It will launch to bring lab accuracy into the home, and counterfeit THE PROBLEM !rst in shipping yard trucks, giving yard operators higher THROUGH SOFTWARE. detection solutions for products across markets. AI is driving an unprecedented demand for levels of ef!ciency and safety than possible with human computation right at the time that the physics of drivers. THE BREAKTHROUGH digital semiconductors is failing to continue to support THE PROBLEM The unique combination of advanced molecular Moore’s law. Transistor scaling has hit its limits and THE BREAKTHROUGH Today’s biology lab is inef!cient and prone to human recognition, detection hardware and AI driven software AI accelerator companies are struggling to keep pace Designed to interact with human environments, ISEE error. Its machines, the equipment tasked with is a fundamentally new way to interact with the world. with demands, particularly in “edge” applications that has created an autonomous system that anticipates unlocking some of life’s most profound mysteries, don’t The technology platforms designed by C2Sense make the require greater power and cost ef!ciency. unexpected behavior better than any other solution on talk to each other. Humans perform repetitive tasks by detection of invisible compounds and the power of rapid the market. Its AI platform was born out of cognitive hand without precise documentation. Reproducibility of diagnosis readily available and affordable. The company’s THE IMPACT science and arti!cial intelligence work at MIT. results by peers is dif!cult or impossible. miniaturized sensing solutions are designed to make the Celestial has developed a proprietary photonic neural world a healthier and safer place. network processor that uses photons (light) rather than THE IMPACT electrons to handle data-parallel calculations that are With Radix, biologists will spend less time in the lab and many orders-of-magnitude faster, and more power more time focusing on experimental design and analysis. ef!cient than in traditional semiconductors. This speed Its software requires no coding and is designed around an and ef!ciency will liberate the power of AI in every approachable user interface. application, especially at the “edge,” where energy use is of paramount concern. THE BREAKTHROUGH Radix has built a programming language that unites THE BREAKTHROUGH biologists and their lab machinery in one automated Celestial's fundamental breakthrough is its opto- unit. This programming language is the heart of electronic system-in-package that includes the photonic software that manages both human and machine neural network integrated with a state-of-the-art AI tasks. It is the !rst time disparate lab machinery can accelerator chip. communicate with one another under the control of one centralized platform.

FOUNDERS & DAVID LAZOVSKY, PREET VIRK, LEADERSHIP MICHELLE TOMASKO FOUNDERS & YIBIAO ZHAO, DEBBIE YU, CHRIS BAKER FOUNDERS & DHASHARATH SHRIVATHSA FOUNDERS & GEORGE LINSCOTT, TIM SWAGER, LEADERSHIP LEADERSHIP LEADERSHIP ERIC KELLER, JT MANN BACKGROUND INTERMOLECULAR, POET TECHNOLOGIES, NVIDIA, GOOGLE, GROQ, MACOM, BACKGROUND MIT COMPUTATIONAL & COGNITIVE BACKGROUND OLIN COLLEGE, MIT MEDIA LAB BACKGROUND MIT DEPARTMENT OF CHEMISTRY TRANSMETA SCIENCE GROUP INDUSTRY ROBOTICS, AI & ML, INTERNET OF INDUSTRY ADVANCED MATERIALS, INTERNET OF THINGS INDUSTRY SEMICONDUCTORS, ADVANCED MATERIALS INDUSTRY AI & ML THINGS, BIOTECH & LIFE SCIENCES

142 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 143 ADVANCED SYSTEMS & INFRASTRUCTURE

ACCELERATING THE ACCESS TO AFFORDABLE ELECTRIFICATION OF HEAVY AND CONVENIENT MACHINERY WITH SOLID- TRANSPORTATION FOR ALL. STATE HYDRAULICS. THE PROBLEM THE PROBLEM Communities with public transportation hubs may see Heavy machinery consumes 14B gallons of diesel, higher housing costs, driving those who rely on public “True technological resulting in 154M tons of CO2 emitted annually in transit further away from the transit options they need. the United States. RISE estimates the global impact is Trip and wait times are inevitably increased the farther breakthroughs in 370% larger, meaning 570M tons of CO2 are emitted from such hubs one catches a ride. This inef!ciency drives worldwide every year. adoption of expensive ride sharing services, leading to more traf!c congestion and more time on the road for all. foundational areas THE IMPACT RISE Robotics has invented a replacement for hydraulic THE IMPACT such as computing, systems that will enable the next era of fully electri!ed The Routing Company is rede!ning public transit heavy machinery — one that is at once sustainable, so that it is the most reliable and accessible mobility communication, and robust, and precise. The startup’s core technology is an option. Its optimization platform gives communities of electrically-powered mechanical linear actuator with all any size, in any place, with any resources, the ability manufacturing can the abilities of a hydraulic cylinder, but vastly improved to meet the transportation needs of its people, while ef!ciency and control. reducing traf!c congestion. often move systems and

THE BREAKTHROUGH OPTIMIZING THE RESOURCES THE BREAKTHROUGH infrastructure into new RISE Robotics discovered that high-strength steel cables AT THE HEART OF EVERY Optimization research pioneered at MIT’s Computer in an electrically powered and digitally controlled pulley Science and Arti!cial Intelligence Laboratory solved the levels of performance system offered a powerful combination of ef!ciency, size, CLOUD COMPUTATION. vehicle routing problem at Manhattan scale in less than and precision. The materials that make the startup’s a second. This was previously thought impossible. or utility. We look for product possible didn't exist until the early 2000's, and the patented use of the material was invented by RISE. THE PROBLEM platform breakthroughs The $300B global cloud computing industry is massively inef!cient and complex, contributing to tens of billions that can also open new of dollars of wasted time and electricity a year. doors or even create THE IMPACT Sync Computing has developed a technology that can entirely new industries.” quickly optimize complex cloud infrastructure for cost and time with a single click. By eliminating the guesswork, cloud applications such as big data analytics, machine learning, and scienti!c simulations can be ! REED STURTEVANT, instantly and optimally deployed to the cloud, saving General Partner, The Engine companies billions of dollars.

THE BREAKTHROUGH Sync Computing’s core technology, discovered during work in the MIT Lincoln Laboratory, uses a radically new circuit architecture for solving combinatoria optimization problems.

FOUNDERS & JAMES COX, ALEX WALLAR, MENNO VAN FOUNDERS & ARRON ACOSTA, BLAKE SESSIONS, FOUNDERS & JEFF CHOU, SURAJ BRAMHAVAR LEADERSHIP DER ZEE, BRADFORD CHURCH, DANIELA LEADERSHIP TOOMAS SEPP, KYLE DELL’AQUILA LEADERSHIP RUS, JAVIER ALONSO"MORA BACKGROUND MIT BACKGROUND MIT LINCOLN LAB BACKGROUND MIT, UBER, CANOO INDUSTRY ROBOTICS INDUSTRY ADVANCED COMPUTING INDUSTRY AI & ML, TRANSPORTATION

144 THE ENGINE REPORT !"#$ & !"!" ADVANCED SYSTEMS & INFRASTRUCTURE 145 THE ENGINE BOARD OF DIRECTORS THE ENGINE INVESTMENT ADVISORY COMMITTEE THE ENGINE TEAM

SUE SIEGEL FELIPE CHICO KATIE RAE EMILY KNIGHT Chair of the Board Co-Founder, Rodina CEO & Managing Partner VP of Operations

ANANTHA CHANDRAKASAN DAVID FIALKOW REED STURTEVANT DULCIE MADDEN Dean of School of Engineering, MIT Co-Founder & Managing Director, General Catalyst General Partner Head of Partnerships

ROBERT KRAFT JONATHAN KRAFT ANN DEWITT KERRY WALKER Founder, Chairman & CEO, The Kraft Group President, The Kraft Group General Partner Head of Communications

LINDA PIZZUTI HENRY AMIR NASHAT LARA METCALF NATHANIEL BREWSTER CEO & Managing Director of The Boston Managing Partner, Polaris CFO & COO Director of Content Globe; Co-Founder, Hub Week FRAN BARROS ALEX GRANT BRAD POWELL Operating Partner & Chief Design Officer Program Manager Managing Director of Investments, Emerson Collective ORIN HOFFMAN ASHLEY BANKS Venture Partner Laboratory Operations Manager KATIE RAE CEO & Managing Partner, The Engine PHIL INAGAKI CESAR GUERRERO Operating Partner Engineering Associate GLEN SHOR Executive Vice President and Treasurer, MIT THERESA TRIBBLE KARA L’ITALIEN Operating Partner Operations Manager JEREMY WERTHEIMER Entrepreneur, Investor & Philanthropist BETTINA METAIS ALEC DUPUIS VP Investor Relations & Operations Community Operations Associate

ISRAEL RUIZ MICHAEL KEARNEY BELA BOGDANOVIĆ Founding Chairman Senior Associate Executive Coordinator

IAN JOHNSTON LIZZIE RAYMER Associate Executive Assistant

MONIQUE GUIMOND Chief of Staff

146 THE ENGINE REPORT !"#$ & !"!" 147 “ The thriving and exciting founder, collaboration, young companies idea and investment helps launched by The Engine bring our dream of an are thrilling endorsements “innovation orchard” of its founding insight: to life – and brings the that many promising world closer to the kinds “tough” technologies of breakthroughs our need steady, long-term society needs the most.” support to bridge the gap between idea and — L. RAFAEL REIF, President of MIT societal impact. Each new

148 THE ENGINE REPORT !"#$ & !"!" 149 Addressing the world’s toughest challenges is a complex systems problem, and private capital is just one piece of the solution. The journey from breakthrough technology, to commercialization, to ethical, widespread impact on our economies and societies requires public and private collaboration across all levels of government, industry, academia, and finance. WE HOPE YOU CAN JOIN US. The Engine Report 2019 & 2020

Creative Direction & Editing: Fran Barros & Monique Guimond Writer: Nathaniel Brewster Support: Bela Bogdanovic

Published by The Engine Accelerator, Inc. 501 Massachusetts Avenue, Cambridge, MA, 02139 www.engine.xyz