E8 Announces 2019 Investments Worth $4M and 2020 Priorities

SEATTLE, Feb. 24, 2020 /PRNewswire/ -- E8, an angel investor community committed to investing in cleantech in support of both profit and ecological sustainability, announced today that its members made investments worth $4 million across 26 companies in 2019. The strong results come as E8 makes plans for enhanced capacity in 2020 that will offer new pathways for individuals, foundations, and corporations to invest in cleantech innovations, especially those designed to mitigate climate change.

Since 2006, E8 has offered accredited individuals a way to invest in emerging enterprises which share the group's mission to accelerate the transition to a prosperous and sustainable world. Through investment pitches, collective due diligence and learning opportunities, the E8 community unites interest, passion and expertise from the Northwest and nationally.

In 2020 E8 will be expanding its platform for facilitating both private and philanthropic investments. Investors will be able to access a range of options that suit their availability, expertise, learning goals and even preferred asset class for a given cleantech investment.

"This is a vital moment for cleantech and climate change, with tremendous opportunity and interest in investment and action," said Eric Berman, Co-Chair of the E8 Board of Directors. "We are upgrading our business model and expanding our community to make cleantech investing more accessible, fulfilling and successful."

The highlights of E8's announcement include:

• 2019 investments of $4M in 26 companies: The E8 community collectively invests through direct investment from E8 members, the pooled and managed E8 Fund and through syndication. The largest investments supported include Energy Storage Systems (ESS), Green Canopy Homes, OnSwitch, Apana, Ecellix, PowerLight and StormSensor. Others include Clean Fiber, OneEnergy Renewables, Indow, Focal Technologies, e-Zn, Beta Hatch, Nori, SparkFund, Membrion, PickMySolar, Autonomous Tractor Corporation, Fledge, PittMoss, Signol, Joule Case, Amply, Vartega, ConnectDER and Group 14.
• Cumulative E8 community investments reach $39.3M: E8, previously named Element 8 and Northwest Energy Angels, now estimates its total investment since 2006 at $39.3M, in 98 companies from North America and beyond. All investment numbers are self-reported by E8 members. Total private investment in these companies exceeds $775M.
• E8 Fund continues its progress, with a second fund under consideration: The affiliated venture capital E8 Fund is fully invested and holds positions in nine portfolio companies, spanning cleantech sectors that include renewable energy procurement, advanced metering, alternative protein for animal feed, and water treatment. Seven of the nine portfolio companies have raised subsequent funding, with six at substantially higher valuations. A second venture fund is under consideration.
• E8's new philanthropic impact fund will be a compelling option for donor-investors motivated by climate action: Recognizing the urgency and opportunity to improve environmental health and combat climate change, E8 is adding to its menu a new fund which leverages philanthropic capital to invest in early stage companies. This new approach will align with and accelerate ambitious decarbonization goals such as those set forth by the Washington Clean Energy Transformation Act. Launching in early 2020, the fund will complement early technology investment opportunities from allied leaders such as VertueLab.
• Membership and the expansion of E8's community and capacity: E8 is honored to support eighty member families and companies, with improved member satisfaction and growth in 2019. The E8 community would not be possible without the support of its sponsors: University of Washington's Clean Energy Institute, Washington State University, VertueLab, Pacific Northwest National Labs, Kitsap Bank, Puget Sound Energy, Craft3, JP Morgan, K&L Gates, the CleanTech Alliance and North Coast Digital. Additional support for innovation at E8 is provided by the Stolte Family Foundation.

About E8

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)

Media Contact
Mike Rea, E8 Angels
[email protected]
(m) 425.409.9531

SOURCE E8