E8 Angels, a prominent cleantech angel investing community in the United States, has announced the launch of the annual request for proposals for Decarbon8-US, its philanthropic impact fund. This initiative aims to drive innovation in renewable energy, aligning with the ambitious goals outlined at the COP28 climate summit to triple the world’s renewable energy capacity by 2030.
Since its inception in 2020, the Decarbon8-US fund has provided over .4 million in combined philanthropic and personal co-investment to support 14 portfolio companies dedicated to decarbonizing various sectors such as agriculture, the built environment, and transportation. By accepting donations and grants, Decarbon8-US facilitates equity and debt investments in early-stage companies that offer technologies and business models accelerating the transition to environmentally sustainable solutions.
According to Karin Kidder, Executive Director of E8, companies within the Decarbon8-US portfolio have made significant strides, with notable success stories like Earthly Labs’ acquisition by Chart Industries in 2022. Kidder emphasized the critical need for collaboration across private, public, and government sectors to achieve the ambitious renewable energy targets by 2030 and net zero by 2050.
E8 collaborates with strategic partners like Microsoft’s Climate Innovation Fund to maximize the impact of the Decarbon8-US Fund. Brandon Middaugh, Senior Director of Microsoft’s Climate Innovation Fund, underscored the importance of supporting innovative startups that play a pivotal role in accelerating the transition to a cleaner, more sustainable future through initiatives like the Decarbon8-US Fund.
Entrepreneurs with visionary renewable energy solutions in the United States and Canada are encouraged to apply for funding from the Decarbon8-US Fund, focusing on areas such as power generation, alternative fuels, energy storage (non-battery forms), grid infrastructure, and implementation and deployment projects. The application deadline is June 21, 2024, with detailed criteria and timeline information available in the Request for Proposals (RFP).
E8 and Decarbon8-US receive backing from esteemed climate leaders, including the University of Washington’s Clean Energy Institute, Washington State University, K&L Gates, CleanTech Alliance, JP Morgan Chase, Microsoft, and the Stolte Family Foundation. Decarbon8-US operates as a philanthropic investment fund administered by Realize Impact, a specialist in impact investing.
About E8, a non-profit membership community, has been actively investing in and nurturing emerging cleantech enterprises since 2006, with over million invested in 150+ cleantech companies in the US and Canada. Their investor-centric platform supports various types of investors and asset classes, aiming to accelerate decarbonization and climate mitigation through innovative enterprises and technologies.
For more information, interested parties can visit the E8 website for details on applying to the Decarbon8-US Fund. Media inquiries can be directed to Karin Kidder, Executive Director, at [email protected] or 206-321-0955.
