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Rise Energy Selected for DARPA Embedded Entrepreneur Initiative, Secures $340,000 to Commercialize Autothermal Pyrolysis Technology 

From L to R: Tannon Daugaard (CTO), Jordan Funkhouser (COO), Ryan Smith (CEO) of Rise Energy.

Ames, Iowa (March 23, 2026) — Rise Energy has been selected for the Defense Advanced Research Projects Agency’s (DARPA) Embedded Entrepreneur Initiative (EEI), securing $340,000 in non-dilutive funding to accelerate the commercialization of its Autothermal Pyrolysis technology developed at Iowa State University (ISU).

Autothermal Pyrolysis is a novel process that converts underutilized or waste materials into refiner-ready feedstocks, enabling the production of low-carbon fuels and products from resources that are currently undervalued or discarded.

For more than a decade, Autothermal Pyrolysis has been practiced and demonstrated at Iowa State, establishing a strong technical foundation at pilot and pre-commercial scales. The ISU Bioeconomy Institute has received significant recognition for this work, including a $1 million XPRIZE Carbon Removal Milestone Award for autothermal pyrolysis–based carbon removal, along with multiple awards from the U.S. Department of Energy, U.S. Department of Agriculture, and industry partners to further advance the technology.

“Being selected for DARPA’s Embedded Entrepreneur Initiative is a powerful validation of both the technology and our team’s vision,” said Ryan Smith, Chief Executive Officer of Rise Energy. “These technologies have been proven through more than a decade of research at Iowa State. This award allows us to take the critical next step—bringing a commercially viable, scalable solution into the marketplace that turns undervalued and waste materials into domestically produced renewable energy and other high-value products.”

The DARPA EEI award is one of the few direct funding opportunities specifically designed to support commercialization efforts following strong technical proof of concept. By bridging the gap between demonstrated research and market deployment, the program helps ensure that high-potential technologies successfully reach the marketplace.

Rise Energy was selected for EEI funding based on its commercialization strategy and the team’s extensive experience in bioenergy process development. Through EEI, DARPA embeds commercialization expertise within technical teams and connects awardees to its broader ecosystem of investors, corporate partners, and national security stakeholders, helping catalyze follow-on investment and strategic partnerships.

DARPA’s Embedded Entrepreneur Initiative is designed to strengthen U.S. energy and national security by enabling domestic pathways to upgrade waste and underutilized feedstocks into fuels and critical energy products.

With this award, Rise Energy becomes the first Iowa State University–affiliated company to receive a DARPA EEI award. The funding will help launch ISU’s long-standing Autothermal Pyrolysis innovation into the marketplace, enabling Rise Energy to advance durable carbon removal, low-carbon energy solutions, and strategic energy capabilities critical to the United States.