Energy Impact Partners (EIP) has successfully raised $111.9 million for its Elevate Future Fund I LP (Elevate), a fund aimed at promoting diversity in the clean energy industry. Elevate takes a three-step approach by providing capital to underrepresented founders, supporting minority-owned businesses in the supply chain, and investing in various stakeholders to accelerate the clean energy transition while increasing diversity, equity, and inclusion.
EIP believes that investing in diverse founders is crucial for driving innovation and progress in the clean energy transition. The fund has already invested in companies like ChargerHelp!, Robust.ai, and Rheaply, which are working on EV charging support, AI for logistics and manufacturing, and sustainable resource sharing, respectively.
Elevate has attracted a diverse range of investors, including companies like Fortis, Southern Company, Xcel Energy, PPL Corporation, Amazon, Microsoft, CenterPoint Energy, and General Electric. These investors recognize the importance of diversity and inclusion in the clean energy ecosystem and are committed to supporting a transition to a cleaner energy future.
The successful fundraising milestone highlights EIP’s dedication to providing inclusive capital to diverse founders and promoting diversity in the broader energy transition.
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Categories: THE CLIMATE INVESTOR
