E8’s impact fund supports investment in innovative EV charging, carbon capture and hydrogen power with philanthropic and private capital
D8 offers new, complementary ways to support the technologies needed to address the urgent crisis of climate change. The fund accepts tax-deductible donations and grants of any amount and invests them in market-ready climatetech startups vetted by investing and subject matter experts. The model expands climatetech investment options and removes barriers typical to angel investing, while allowing for both personal and philanthropic returns.
“Decarbon8 offers everyone an opportunity to help address the generational crisis of climate change by supporting decarbonization innovation,” said Molly Shor, E8 Screening Committee chair and a member of the D8 Investment Committee. “These companies have proven technologies that are ready to go and we are excited to give investors a chance to learn about them and participate in their growth.”
D8’s evaluation process intentionally supports investment of both philanthropic and private capital. In addition to fund investments supported by donor-investors, accredited investors may participate with personal investments in these high potential enterprises.
On September 10, E8 will host presentations from the selected companies and discuss how anyone can participate and help drive their success; those interested may register online.
D8 evaluated 38 startup companies that applied for funding in July. The selected companies, with greater detail provided in the D8 Investment Brief, are:
Xeal, based in Los Angeles, California, offering an advanced software platform for electric vehicle charger networks that is connecting multi-unit properties and workplace customers and their drivers, speeding electric vehicle adoption. Xeal received a $25,000 investment from Decarbon8-US, while also leveraging a successful syndication investment coordinated by E8 board member Ramez Naam.
Earthly Labs, based in Austin, Texas, giving small craft breweries and other industrial facilities a chance to capture and recycle (and resell) carbon dioxide emissions. Recently featured by CNN Business, Earthly Labs’ decarbonization technology is ready to scale, driven by a beverage-grade CO2 shortage and momentum for circular economies and sustainability. D8 is investing a minimum of $50,000, with the deal open to private investment.
Steelhead Composites, based in Golden, Colorado, providing specialized vessels for storing hydrogen that can be found in automobiles (e.g. Hyundai), maritime ships (e.g. HySeas ferries), and stationary and backup power (e.g. Microsoft data centers), and even in space (SpaceX). The company is set to play a role in building a global hydrogen fuel infrastructure. D8 is investing a minimum of $40,000, and a syndication fund allows for private investment, too.
D8’s model to democratize climate investment has inspired donations from a range of contributors, including grants from Silicon Valley Community Foundation, ImpactAssets and the Stolte Family Foundation, as well as new individual donations of cash or appreciated stock.
“We are grateful for participation from donor advised funds and family foundations. We’ve also received a donation of highly appreciated tech stock, which is an amazing way to realize a great tax benefit and invest in new climatetech entrepreneurs,” said Mike Rea, E8’s Executive Director. “This fund and its flexible options make it easy for anyone to participate in climate innovation and returns, regardless of expertise, wealth and free time.”
Craft3, a regional loan fund, provided financial due diligence to the Investment Committee throughout the process, and other D8 advisors include University of Washington’s Clean Energy Institute, Washington State University, K&L Gates, CleanTech Alliance, Climate Solutions, RealizeImpact, VertueLab and the Stolte Family Foundation.
E8 is an international, Seattle-based community whose mission is to accelerate the transition to a prosperous and cleaner world by investing in and fostering emerging cleantech enterprises. Our flexible, investor-centric platform supports different types of investors and asset classes, including direct angel for-profit investing, pooled investing in expertly managed VC funds such as the E8 Fund, donor advised fund impact investments, and a philanthropic fund for accelerating decarbonization and climate mitigation. E8’s community and offerings are driven by a belief in the power of innovative enterprises and technologies to scale both positive returns and impact. (www.E8angels.com)