Product Reports Resources Pricing Login Book a demo

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
client focusb2btechnologyHardwaretechnologyDeep Techsub industryClean Energysub industryEnergy Efficiencybusiness modelManufacturingsectorSpinoutsectorSustainable Development GoalssectorRumoured $1BsectorClimate TechsectorGrid TechnologysectorNIF defense security and resiliencesectorNIF Energy Security and Climate ChangesectorDT and LS

Valuation & funding

Mainspring funding history

Company financing events and reported valuations.

Deal typeDateAmountValuationInvestorsSource
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
Showing 8 recorded eventsUnlock the complete deal history →

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.

Latest monthly visits23K 3-month web change+109.1% 1-year team growth+0.6%
Monthly website visits106 observations · May 2017–Jul 2026
Hover or focus a point to see its exact monthly valueCompare with peers →

Comparisons

Mainspring compared with similar companies

Dealroom’s weighted taxonomy model identifies the closest operating peers. Company identity and context stay open; selected comparison metrics preview what is available in the platform.

Showing 8 of the closest matchesCompare every metric →

Talent graph

Mainspring's talent

Book a demo to see the people
Team profiled 24 named & role-tagged
Founders Hidden — book a demo/100 quality score
Key operators 3 quality Hidden — book a demo/100
Potential founders Hidden — book a demo likely future founders
Startup mafia Hidden — book a demo alumni-founded startups
Talent movements Hidden — book a demo in · Hidden — book a demo out past 12 months

Source: Dealroom Talent Intelligence.

Investors

28 investors on Mainspring's cap table

Sourced from Dealroom's funding and investor records. Investor profile links are shown where available.

Series A 1 investor entered at this stage
Series B+ 25 investors entered at this stage
Bill Gates
American Electric Power
KCK
Louis Bacon
Equinor
ClearSky
Devonshire Investors
Chevron Technology Ventures
40 North Ventures
Princeville Capital
Lightrock
Fine Structure Ventures
Lineage Ventures
CPP Investments
Shell Ventures
Hanwha Power Systems
General Catalyst
Temasek
DCVC
The Climate Pledge
Gates Frontier
Marunouchi Innovation Partners
Pictet
M&G
LGT Group
Other known 2 additional known investors
BloombergNEF
Stanford University

Global footprint

Where Mainspring has talent and traffic

Workforce by country
7 countries with
team presence
🇺🇸 United States97%
🇲🇽 Mexico1.2%
🇯🇵 Japan0.5%
🇨🇦 Canada0.5%
🇮🇳 India0.3%
Top 5 of 7 shown

In the news

Latest news about Mainspring

Recent press, funding announcements, and product moves mentioning Mainspring — open to read from the original sources.

See all news

Market sentiment

What the market is saying about Mainspring

An AI-synthesized read of the highest-engagement posts about Mainspring on X over the past 7 days. We rank by likes & retweets, ignore corporate channels, and surface the themes that broke out from real people.

Reading the room on X — pulling top posts and synthesizing themes…

Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour

See Mainspring’s full profile on Dealroom

Request a free trial to see the complete deal history, financials, people graph and growth signals.

Takes under a minute. Already use Dealroom? Log in.