Entrepreneurs can apply for investment through July 9; impact investors can accelerate climatetech progress with personal and philanthropic capital.
SEATTLE, June 14, 2021 /PRNewswire/ -- The Decarbon8-US Fund, an impact investment vehicle established by the E8 cleantech angel investor community, announced a new Request for Proposal (RFP) for climatetech companies focused on decarbonizing the transportation sector. Applications for investment to the Decarbon8-US process are due by June 21, 2021 for priority consideration and July 9, 2021 at the latest. The RFP and application can be found online (http://www.decarbon8-us.org/).
The world is not moving fast enough to reduce greenhouse gas emissions. While a recent PwC report noted the rapid growth of cleantech investment over the last seven years, with further acceleration seen in 2021, new data from the National Oceanic and Atmospheric Administration show that carbon dioxide levels continue to rise (NPR).
To help meet this challenge, Decarbon8-US was designed to expand the number of people and organizations that can directly support the enterprises that are decarbonizing the economy, while also generating new jobs and potential investment returns.
Anyone can make a gift or grant to the Decarbon8-US Fund which is then invested in companies vetted by E8 judges leveraging the group's 15 years of early stage cleantech experience. Returns from Decarbon8-US can be reinvested in the fund or recovered in a giving vehicle for other philanthropic activity. In addition, personal investors participating in the Decarbon8-US process may co-invest private capital in the same deals.
"This Decarbon8 round comes at a vital time for our economy and our fight against climate change," said Lee Otis, Co-Chair of E8. "With one contribution anyone at all can support the economic rebound, maintain new momentum and hope for living more sustainably, and participate in the profit potential of the cleantech revolution."
This 2021 transportation round of Decarbon8-US deals and investment follows a successful launch of the fund in 2020, for which three finalists received almost $1 million in combined investment. The three investees, Earthly Labs, Steelhead Composites and Xeal, have seen their carbon capture, hydrogen and EV charging businesses boom. Their revenues, valuations and impact are all growing fast. Philanthropic and personal investments in these high growth enterprises came from individuals and families, donor advised funds, family foundations, donations of highly appreciated securities and other forms.
The latest Decarbon8-US Request for Proposal specifically seeks investment opportunities in the transportation sector, the largest contributor of greenhouse gas emissions in the United States (EPA). The Investment Committee, supported by Craft3's financial expertise and E8 technical Fellows, will review applicants and conduct due diligence on opportunities. Finalist will be announced in late August, with investor presentations in mid-September.
Applicants should: (1) support the decarbonization of land, air or sea transportation, (2) have market-ready products with no more than $1.5M in 2020 revenue, or pilots to drive 2021 revenue, and (3) be based in the US or Canada. Decarbon8-US can accommodate various investment types and fundraising timelines. The fund's overriding purpose is to accelerate proven solutions in a position to rapidly scale and deliver emissions reductions.
In addition to E8, Decarbon8-US is supported by a diverse coalition of climate leaders, including University of Washington's Clean Energy Institute, Washington State University, CleanTech Alliance, Climate Solutions, Action Digital, Puget Sound Energy, VertueLab, Dharma 350 Fund and the Stolte Family Foundation. Decarbon8-US is a philanthropic investment fund housed at the impact investing 501(c)(3) Realize Impact.
"Whether you are an accredited investor or not, prefer to use philanthropic capital or personal, or can commit a small or large amount," notes Mike Rea, E8 Executive Director, "Decarbon8-US can accommodate your climatetech investment goals and the imperative for progress."
As posted in PR Newswire.