ImpactAlpha, Jan. 20 – The New York-based venture firm has made a name investing in ready-to-deploy technologies that help its energy and industrial investment partners operate more efficiently and lower their carbon footprints. Energy Impact Partners’ new Deep Decarbonization Frontier Fund marks a shift into early stage, high-impact climate tech ahead of what the firm expects to be a wave of innovation.
“We’re taking big swings at big risks,” EIP’s Shayle Kann, who leads the fund, told ImpactAlpha.
Fueling the opportunity: long-term corporate commitments to net-zero. “That means much more dramatic transformation of industry sectors that is going to have to take place,” says Kann.
EIP has raised $200 million of its $350 million target for the Frontier Fund. The fund has already made seven investments, including in Form Energy, which is developing low-cost long duration storage, green steel maker Boston Metal, zero-emission fertilizer company Nitricity and fusion hopeful Zap Energy.
The fundraise comes on the heels of a $1 billion fund EIP raised in November for later-stage climate tech.