Subjects: SBS, SRI
Investment Opportunity Open for Startups Decarbonizing the Built Environment
Entrepreneurs encouraged to apply by June 26, 2023
SEATTLE, June 13, 2023 /PRNewswire/ -- The Decarbon8-US Fund released a Request for Proposal (RFP) for companies working on the decarbonization of manmade structures, including residential and commercial buildings and infrastructure operating technologies and services. Applications will be reviewed on a rolling basis until June 26, 2023. The RFP can be found online at www.decarbon8-us.org.
Decarbon8-US is an impact investment fund established by E8, a climate tech investing community. Decarbon8-US leverages personal and philanthropic capital to support early-stage companies whose technologies and business models accelerate the transition to environmentally sustainable solutions. Investees from the 2022 agriculture themed Decarbon8 round received over $500,000 in philanthropic investment. Selected companies receive an impact investment from the Decarbon8-US Fund and can attract personal co-investment from the E8 community of more than 130 families and funds.
Current trends drove the choice of the built environment for 2023's focus. According to a report from the World Green Building Council, the built environment emits 39% of global CO2 emissions, 28% coming from the operation of buildings and 11% from building materials and construction. Despite this, companies innovating in the space only attracted 4% of venture capital investments (Dealroom). Government support from the Inflation Reduction Act, CHIPS and Science Act, and Infrastructure Investment and Jobs Act is stimulating development and rapid adoption of technologies targeted to decarbonizing the built environment.
"Decarbonizing the building sector needs to address retrofitting existing buildings and designing new buildings with net-zero carbon emissions in mind. Each has its own opportunities and challenges," said Reshma Singh, Director of the U.S. Department of Energy's IMPEL incubation engine at Lawrence Berkeley National Laboratory, and Decarbon8-US judge. "Cutting emissions from the built environment is urgently needed to meet our climate goals."
Successful applicants will receive:
- Investment capital
- Introduction to E8's climate tech investor network
- Support from cleantech investment specialists
- Visibility and advocacy
Eligible companies should:
- Be focused on decarbonizing the built environment.
- Have generated revenue or have field trials and pilots.
- Be raising capital, or in a position to accept it, from August to November 2023.
- Be incorporated as a for-profit entity in the US or Canada, or have a US vehicle ready for investment.
E8 & Decarbon8-US are supported by climate leaders including University of Washington's Clean Energy Institute, Washington State University, K&L Gates, CleanTech Alliance, Climate Solutions, Action Digital, Canada's economic development office, JP Morgan Chase, Microsoft, VertueLab and the Stolte Family Foundation. Decarbon8-US is a philanthropic investment fund housed at Realize Impact, a 501(c)(3) impact investing specialist.
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 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:
Karin Kidder
2063210955
[email protected]
SOURCE E8
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