New York city-based firm Energy Impact Partners closed an oversubscribed fund at $485 million with a focus on the transition to a net-zero carbon economy.
EIP Deep Carbonization Frontier Fund I was launched in January targeting revolutionary climate technologies with outsized financial prospects. So far 12 companies are in the EIP portfolio including: Form Energy, Nitricity, Carbon America, Sublime Systems, Electric Hydrogen and Rondo Energy. The fund considers companies that have achieved technical validation but have not yet reached full maturity at scale.
“The challenge is both simple and daunting — the world must go from 50 gigatons of CO2e emissions per year, to net zero by midcentury, if not sooner,” said Shayle Kann, partner at EIP, in a statement. “Our Frontier Fund is dedicated to supporting entrepreneurs who will build the foundations of that transformation and the trillions of dollars of opportunity it represents. We are thrilled to drive that future along with EIP’s team and expanding global partner ecosystem.”
The $3 billion EIP has partnered with 50 forward-looking corporations who are committed to decarbonize the global economy. The partnership model is set up to identify innovators, accelerate their market adoption and then drive direct revenues from EIP’s corporate LPs to portfolio companies.
In September, EIP launched its European Fund with €390 million ($397 million), attracting interest from APG and Microsoft’s Climate Innovation Fund.
According to EIP Partner Ashwin Shashindranath, investors turn to EIP and its ecosystem of experts as a partner of choice in turning the global challenges of net zero transformation into investment opportunities.
