Aligned Climate Capital Raises $85 Million for Clean Energy Venture Fund – ESG Today

Decarbonization-focused funding agency Aligned Local weather Capital introduced that it has raised $85 million on the ultimate shut of its second enterprise fund, Aligned Local weather Fund 2 LP (ACF2), focusing on investments in clear vitality and decarbonization options.

The fund, which is twice the scale of Aligned’s first fund, invests in firms on the Seed by means of Collection B levels, which are scaling confirmed, financeable clear vitality options, in areas together with clear vitality, environment friendly and resilient infrastructure, electrical transportation, and sustainable land use. The technique focuses on firms that may scale quickly to extend revenues and attain profitability within the near-term.

Aligned mentioned that along with offering capital, the agency additionally actively helps its portfolio firms in securing extra financing, constructing market partnerships, and accelerating commercialization.

Up to now, the brand new fund has invested in 9 firms together with BoxPower, BrightNight, CarbonQuest, ChargerHelp!, EVenergi, NYLE Water Heating Methods, Port Wind, UtilityAPI, and a geothermal firm that has not but been publicly introduced.

Peter Davidson, CEO of Aligned Local weather Capital, mentioned:

“The clear vitality transition isn’t a know-how problem; it’s a deployment problem. The options wanted to decarbonize the financial system exist already, however scaling them requires capital, experience, and market entry. Our enterprise fund is investing in firms accelerating this transition by deploying confirmed clear vitality applied sciences which are already outcompeting fossil fuels and delivering actual impression right now.”

ACF2 was closed with the assist of the Ford Basis, The Rockefeller Basis, and a number of other institutional buyers. Aligned has additionally donated 3% of ACF2’s carried curiosity to 3 nonprofits doing crucial work on local weather change: The Honnold Basis, which expands photo voltaic vitality entry for underserved communities worldwide; the Local weather & Clear Vitality Fairness Fund, which helps grassroots organizations advancing local weather justice and fairness; and Impression Capital Managers, which fosters collaboration and training throughout the impression investing group.

Maria Kozloski, Senior Vice President at The Rockefeller Basis, mentioned:

“The Rockefeller Basis is dedicated to advancing financial progress by supporting investments that bridge the hole between innovation and large-scale deployment. Aligned’s hybrid method reduces danger whereas increasing clear vitality entry, making confirmed applied sciences extra impactful for U.S. communities adapting to a altering vitality panorama.”