§ 03 — Portfolio index

Parallel Quarterly ·

No. 14

14

Grid & Energy

Seed

2022

Active

Founded in

Toledo, Ohio

Founders

Beatrix Holm, Ray Tuttle

Sector

Grid & Energy

First check

Seed

Year

2022

Status

Active

Glass and ceramic plants burn gas to reach temperatures above 1,000 degrees, around the clock. Kilnworks builds electric kilns and furnaces that reach the same heat, run on a schedule the plant sets, and tell the utility in advance when they will draw power.

Beatrix Holm was a process engineer at a glass container plant. Ray Tuttle designed power electronics for industrial drives. The kiln’s controller does the thing a plant manager cares about, which is holding temperature through a shift change, and the thing a utility cares about, which is not surprising the grid.

Three plants are running Kilnworks equipment today. The first has operated for fourteen months without an unplanned stop. The company sells equipment with a service contract, quotes a fixed price per kiln, and publishes its energy use per tonne so a buyer can check the numbers against their own bill.

Why we invested

Heavy industry will not decarbonize on a slogan. It will on a furnace that holds its temperature and a utility that says yes. Beatrix and Ray had plainly talked to both.

Colophon

This issue is set in Newsreader, a typeface for long reading by Production Type, with Instrument Sans for the small print. Printed in the browser on 100% post-consumer pixels. No trees were harmed; several laptop fans were mildly inconvenienced.

Paper: #F4F1EA. Ink: #141414. One bottle of oxblood, used sparingly and signed out by both partners.

Pittsburgh

2100 Smallman Street, 3rd floor
Pittsburgh, PA 15222

Rotterdam

Keilestraat 14-B
3029 BP Rotterdam

Partners

Hana Voss, Pittsburgh
Teo Okafor, Rotterdam

Fine print

Nothing on this page is an offer to sell securities. It is, however, a standing offer to read your deck.

© 2026 Parallel Management, LLC

Vol. III · Issue No. 3 · Next issue: December

Create a free website with Framer, the website builder loved by startups, designers and agencies.