Dealflow | May 20, 2021

Energy Impact Partners backs Moxion Power and Zap Energy

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, May 20 — New York-based Energy Impact Partners counts Microsoft and electric utilities as strategic partners.

Richmond, Virginia-based Moxion has raised $10 million in Series A funding led by the sustainable investment firm for its temporary-power-as-a-service platform to help construction as well as event and film production companies swap diesel-powered generators for its fleet of electric equipment.

“We’re embarking on an area of unprecedented electrification globally, which is going to dramatically increase the need for clean, portable and on-demand power,” says EIP’s Sameer Reddy.

Moxion is launching an electric equipment rental shop in the San Francisco Bay Area. Tamarack Global and Liquid 2 Ventures and other existing investors participated in the round.

Carbon-free energy

EIP also invested in the $27.5 million Series B financing for Seattle-based Zap Energy, which is building a magnet-free fusion reactor.

New York-based venture firm Addition led the round, with GA Capital, Fourth Real, LowerCarbon Capital and Chevron Technology Ventures (see, “Chevron’s venture arm stands up $300 million low-carbon tech fund).