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Mainspring
Energy · Menlo Park, United States · Founded 2010
Fuel-flexible linear generators for onsite power generation. MoreLess
Mainspring Energy, founded in 2010 by Stanford engineers Shannon Miller, Matt Svrcek, and Adam Simpson, is a developer of onsite linear power generators. The company originated from research conducted by the co-founders in a thermodynamics laboratory at Stanford University, with Miller's work funded by the Global Climate Energy Project. Miller, who serves as CEO, has a background in thermodynamics and was motivated to address carbon emissions while expanding access to affordable electricity. The company was formerly known as EtaGen.
Mainspring's core product is the Linear Generator, a technology that differs from traditional engines or turbines by directly converting motion in a straight line into electricity. This is achieved through a low-temperature, flameless reaction of air and fuel that drives magnets through copper coils. The design features only two moving parts and an air-bearing system that removes the need for oil, which contributes to lower maintenance costs. A key feature is its fuel flexibility, allowing it to operate on natural gas, biogas, hydrogen, ammonia, and propane, and to switch between them seamlessly. The generators are designed to be modular, scalable from 250 kW units to over 100 MW, and produce near-zero NOx emissions without requiring after-treatment systems.
The company's business model focuses on providing power generation solutions to commercial and industrial customers, data centers, utilities, and microgrids. Mainspring offers an energy-as-a-service model where customers can install the generators with no upfront cost and pay for the energy consumed, often resulting in annual savings. Mainspring serves clients such as Fortune 500 companies, including grocery chains and logistics firms like Lineage Logistics. The company partners with other firms, such as NextEra Energy Resources and Schneider Electric, for financing, deployment, and integration into microgrids. Commercial shipments began in mid-2021 after initial pilot deployments in 2020.
Mainspring has secured significant funding from investors including Bill Gates, Khosla Ventures, Lightrock, and General Catalyst. Total funding has reached over $739 million through multiple rounds. The company is expanding its manufacturing capabilities with a new facility in Allegheny County, Pennsylvania, supported by grants from the U.S. Department of Energy and the state of Pennsylvania.
Keywords: linear generator, onsite power generation, fuel-flexible energy, distributed generation, cleantech, low-emission power, microgrid solutions, energy resilience, hydrogen power, biogas energy, alternative energy, dispatchable power, modular power systems, commercial power, industrial power, data center power, utility-scale power, flameless combustion, energy-as-a-service, sustainable electricity
Company overview
Mainspring company information
The essential company record, classifications and operating signals in one place.
- Status
- Operational
- Founded
- 2010
- Headquarters
- Menlo Park, United States
- Employees
- 517
- Open positions
- None listed
- Dealroom signal
- 80.1
Valuation & funding
Mainspring funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| SERIES FOther financing | Apr 2025 | $258M | $1B | Temasek · DCVC · The Climate Pledge · Gates Frontier | ↗ |
| SUPPORT PROGRAMOther financing | Apr 2023 | $0 | — | BloombergNEF | ↗ |
| SERIES EOther financing | Sep 2022 | $140M | $560M | CPP Investments · Shell Ventures · Princeville Capital · Lightrock | ↗ |
| SERIES EOther financing | May 2022 | $150M | $600M | Khosla Ventures · Fine Structure Ventures · Lineage Ventures · Lightrock | ↗ |
| SERIES DOther financing | May 2021 | $95M | $380M | Khosla Ventures · Bill Gates · American Electric Power · Equinor | — |
| SERIES COther financing | Jan 2018 | Bill Gates · American Electric Power · KCK · Louis Bacon | — | ||
| EARLY VCOther financing | May 2010 | Khosla Ventures | — | ||
| SPINOUTOther financing | Jan 2010 | Stanford University | — |
Growth signals
Mainspring website traffic
Latest recorded traffic for Mainspring is 23K monthly website visits, up 109.1% over the last three months. Mainspring's team grew 0.6% over the past year.
Comparisons
Mainspring compared with similar companies
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Talent graph
Mainspring's talent
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Global footprint
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In the news
Latest news about Mainspring
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Market sentiment
What the market is saying about Mainspring
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