News and Analysis

EIP collects $111.9m to support diverse founders battling climate change

Elevate Future Fund I's backers include Fortis Inc, Southern Company, Xcel Energy, Amazon and Microsoft.

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  • EIP is focused on energy transition
  • EIP has over $3 billion in assets under management
  • The firm has offices in New York, Atlanta, San Francisco, Washington D.C., Palm Beach, London, Cologne and Oslo

Energy Impact Partners has closed its inaugural future fund at $111.9 million.

Elevate Future Fund I’s backers include Fortis Inc, Southern Company, Xcel Energy, PPL Corporation, Amazon (through Amazon Catalytic Capital and Amazon/Climate Pledge Fund), Microsoft (through its Climate Innovation Fund), CenterPoint Energy and General Electric Company.

Matthias Dill, Naso Moosa, Hans Kobler, Energy Impact Partners
Matthias Dill, Naso Moosa, Hans Kobler, Energy Impact Partners

“We are proud to be a founding investor in the Elevate Future Fund and strongly believe in its mission to drive diversity and inclusion in the clean energy ecosystem,” Chris Womack, president and CEO-elect at Southern Company, said in a statement. “Southern Company recognizes the importance of and is committed to helping bring a range of perspectives to the table as we work to transition to a clean energy future.”

The Elevate fund is focused on the energy transition by supporting “energy incumbents’ local and regional efforts that expand clean energy opportunities and investments in the United States and Canada,” the statement said. It has already invested in companies such as ChargerHelp!, which provides EV charging support; Robust.ai, a provider of AI for logistics and manufacturing; and Rheaply, which offers sustainable resource sharing.

“Urgent action is needed to combat climate change and a task this size cannot be done alone,” EIP founder and managing partner Hans Kobler said. “It requires a coalition of diverse thought, perspective and collaboration to make actionable progress toward decarbonizing the global economy.”

EIP managing partner Anthony Oni added: “The close of this fund shows that investors are committed to supporting the next generation of diverse entrepreneurs who are creating the critical solutions needed to reduce the world’s exposure to carbon emissions and fossil fuels.”

EIP has more than $3 billion in assets under management. The firm has offices in New York, Atlanta, San Francisco, Washington D.C., Palm Beach, London, Cologne and Oslo.