Global venture capital company Energy Impact Partners (EIP) has raised $485 million (£407m) to fund early-stage clean energy and climate technologies to drive decarbonisation.
It announced the closing of the EIP Deep Decarbonisation Frontier Fund, which was oversubscribed with global investor support.
The fund aims to invest in revolutionary climate technologies, focusing on companies that have already achieved early technical validation but have not yet reached full maturity at scale.
It has so far invested in companies including Form Energy (energy storage), Nitricity (zero carbon fertiliser), Carbon America (point-source carbon capture) and Sublime Systems (electrified zero carbon cement).
Shayle Kann, Partner at EIP said: “The challenge is both simple and daunting – the world must go from 50 gigatons of CO2e emissions per year, to net zero by midcentury, if not sooner.
“Our Frontier Fund is dedicated to supporting entrepreneurs who will build the foundations of that transformation and the trillions of dollars of opportunity it represents. We are thrilled to drive that future along with EIP’s team and expanding global partner ecosystem.”