Energy Impact Partners LP (EIP), a global venture capital firm leading the transition to a sustainable future, announced today the final close on its latest Flagship Fund with over $1 billion in capital commitments. The Fund brings together one of the industry's most comprehensive ecosystems of strategic and financial investors across the utility, energy, real-estate, mobility and industrial sectors that are accelerating progress toward net zero GHG emissions by investing in venture and growth companies advancing critical climate solutions.
Founded by a team of industry veterans in 2015, EIP is custom-built to lead the transition to a zero-carbon economy. Today, with nearly 60 professionals located across six global offices, EIP manages more than $2 billion in assets under management across early stage, venture, growth, credit and infrastructure investments. The EIP team is comprised of experienced investors, researchers and technologists who work closely with the firm’s strategic limited partners to accelerate their own paths to net zero and catalyze growth in EIP's portfolio of innovative climate investments. EIP has established one of the world's largest climate focused venture technology portfolios with over 75 investments ranging from revolutionary technology start ups to established enterprise platforms.
“We are thrilled to bring together an even larger coalition of utilities and industrials focused on creating a sustainable future,” said Hans Kobler, Founder and Managing Partner of EIP. “Tackling climate change is a major challenge and opportunity that can only be solved by working together. Our unique engagement model helps our partners innovate, drives growth in our investments and maximizes real near-term climate impact as a result.”
EIP looks for inspired entrepreneurs who are re-imagining the future and helps them scale by leveraging its strategic partner coalition. Given EIP's distinct approach, investment highlights from the firm’s portfolio where EIP led the Series A investment include: Dragos, the largest industrial cyber security company worldwide whose latest fundraising round valued the company at $1.7 billion; Arcadia, a software platform connecting enterprises and consumers to clean energy solutions; and Enchanted Rock, a category-leading reliability platform enabling decarbonization and electrification of the grid. These examples, as well as the other companies within EIP’s portfolio, are critical to accelerating the energy transition.
Fund II features an industry-leading group of corporate partners and investors including:
Alliant Energy (NASDAQ:LNT), Ameren Corp. (NYSE:AEE), AvalonBay (NYSE:AVB), Avista Corp. (NYSE:AVA), Burns & McDonnell, Cox Enterprises, Duke Energy (NYSE:DUK), EDF Group (Euronext Paris) through its corporate venture arm EDF Pulse Holding, Emera Inc. (TSX:EMA.TO), ENMAX Corporation, Entergy Corporation (NYSE:ETR), Enterprise Holdings, Evergy Inc. (NYSE:EVRG), FirstEnergy Corp. (NYSE:FE), Fortis Inc. (TSX, NYSE: FTS), Hawaiian Electric Industries, Inc. (NYSE:HE), Hydro One Ltd (TSE:H), MGE Energy, Inc. (NASDAQ:MGEE), Microsoft (NASDAQ:MSFT), through its Climate Innovation Fund, OGE Energy Corp. (NYSE:OGE), Park Hotels & Resorts (NYSE:PK), Pinnacle West Capital Corporation (NYSE:PNW), Portland General Electric Company (NYSE:POR), PPL Corporation (NYSE:PPL), Public Storage (NYSE:PSA), Southern Company (NYSE:SO), TC Energy Corporation (TSX, NYSE: TRP), Tennessee Valley Authority Asset Retirement Trust, Williams (NYSE:WMB) and Xcel Energy (NASDAQ:XEL) among others.
“As a founding partner of Energy Impact Partners, Southern Company continues to believe in the platform’s mission to find and nurture those companies aiding the world’s transition to a sustainable energy future. Equally important are the deeper conversations we are having with the portfolio companies around technology and business model innovation - we’ve engaged over half of the portfolio companies in those conversations. We see this as vital for the future of our business, our ability to achieve our sustainability goals and delivering the energy solutions our customers require,” said Christopher Cummiskey, EVP and Chief Customer Solutions Officer, Southern Company.
EIP's approach is predicated on working closely with industry incumbents who can make an immediate impact given the breadth of their activities. Building off this successful strategy, Fund II has already made significant investments in more than a dozen promising technology companies.
“Delivering a cleaner energy future depends on what we do today,” said David Hutchens, President and CEO, Fortis Inc. “By joining EIP’s limited partner advisory council, sharing our expertise and cultivating an innovative culture at Fortis, we are investing in the most transformative new ideas in our industry.”
Bob Frenzel, President and CEO of Xcel Energy said: “As the first major U.S. power provider to announce a vision to deliver 100% carbon-free electricity to customers, Xcel Energy is committed to building a sustainable clean energy future. We are long-time supporters of Energy Impact Partners and are proud to have invested in this Fund. We look forward to seeing the innovation and new technologies that arise.”
Please email contact@energyimpactpartners.com for more information on Fund II or visit www.energyimpactpartners.com.
About Energy Impact Partners
Energy Impact Partners, LP (EIP) is a global venture capital firm leading the transition to a sustainable future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit, and infrastructure – and has a team of nearly 60 professionals based in its offices in New York, San Francisco, Palm Beach, London, Cologne, and Oslo. For more information on EIP, please visit www.energyimpactpartners.com.
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