Corporate Impact | November 15, 2021

Energy Impact Partners raises more than $1 billion for its second fund

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 15 — New York-based Energy Impact Partners scored commitments from Microsoft’s Climate Innovation Fund, media conglomerate Cox Enterprises and utilities Southern Company, and Duke Energy.

For its partners, EIP sources innovative technology, business models and best practices for decarbonization, as well as deals (for context, see “Microsoft backs Energy Impact Partners to speed the low-carbon transition).

EIP’s Hans Kobler told ImpactAlpha the firm added 14 new partners. “Having those investors at the table gives us more insight, the ability to bring in revenue and the first dollars for entrepreneurs, and have more impact on more industries.

Investment strategy

EIP will continue to focus on later-stage cleantech companies that can help its partners increase efficiency and reduce their carbon footprint. “Our partners quite frankly are some of the biggest emitters of carbon,” Kobler said. “We’ve got to help them come down quickly, but also reliably and affordably.”

Portfolio companies

EIP has backed 75 companies to date, including organic mushroom farming startup Smallhold, emergency response platform RapidSOS, community solar provider Arcadia, real estate ESG startup Measurabl, climate infrastructure software developer Urbint, and clean energy companies Moxion Power and Zap Energy this year. Fund II has already invested in more than a dozen companies.