Elemental Impact, a leading nonprofit climate technology investor, formerly known as Elemental Excelerator, is launching a new funding program to support climate change solutions. They are opening applications for projects to receive investments from the US Environmental Protection Agency’s (EPA) Greenhouse Gas Reduction Fund (GGRF). This historic and market-driven fund has allocated $100 million for the program, which will be distributed through a subaward from the Coalition for Green Capital (CGC).
This significant funding will empower entrepreneurs and climate technologies that are ready to scale and deliver impactful results. The focus is on projects that can reduce greenhouse gas emissions while simultaneously bringing benefits to local communities. Companies interested in applying can submit proposals through the Elemental Impact website at elementalimpact.com.
Elemental Impact brings a wealth of experience to this initiative. They have a robust, nationwide portfolio of projects and a history of direct investment in venture-backed climate companies. Their investments have spanned various sectors, including energy, transportation, water, agriculture, and industry. With this new funding, Elemental Impact aims to make equity and debt investments to scale climate solutions and drive meaningful local community impact.
This announcement also marks a milestone for Elemental Impact. Celebrating its 15th anniversary, the organization has rebranded to reflect its growth into a comprehensive investing platform. This platform now includes a family of funds working together to mobilize capital from diverse sources, including philanthropy, government, and private investors.
The core of the Elemental Impact platform remains a non-profit organization, currently supported by $210 million in philanthropic and public funding. The GGRF funding will allow them to further expand their non-profit investing and provide tailored community engagement support. Additionally, the platform includes the $94 million venture fund, Earthshot Ventures, which was launched in 2021. Elemental Impact intends to continue expanding its offerings in the future by developing new fund strategies and vehicles to meet the evolving needs of climate entrepreneurs.
“We have invested in more than 150 companies working to scale important innovations, and the challenge is clear: the sector needs not only innovation in technology, but also in finance, community partnership, and project implementation,” said Dawn Lippert, founder and CEO of Elemental Impact. “Today, we are expanding our platform to meet this need – because where we invest our time and our capital over the next five years will impact the next hundred.”
Eli Hopson, Chief Administrative Officer of CGC, emphasized the importance of this funding: “Through the Greenhouse Gas Reduction Fund, we will make historic investments in the fight against climate change and give leaders like Elemental the resources needed to bring clean energy investments to all communities, including those historically underserved by finance. By building scalable, inclusive projects, Elemental is doing the critical work to build green infrastructure with a community-focused approach.”
Elemental Impact will also play a vital role in the deployment of the GGRF across a wider network of participants. They will build a national pipeline of projects and collaborate with other organizations, such as Climate United and Power Forward Communities. This initiative is rooted in Elemental Impact’s commitment to convening and collaborating with investors from across the climate ecosystem.
Leveraging their extensive network of co-investors, which includes over 1,000 firms, Elemental Impact aims to amplify the impact of the $100 million. This aligns with the EPA’s goal for the GGRF, which is to mobilize financing and private capital to stimulate further deployment of projects that reduce greenhouse gas emissions and air pollution.
Maria Kozloski, Senior Vice President of Innovative Finance at The Rockefeller Foundation, expressed pride in their support of Elemental Impact: “Philanthropy is at its best when we’re helping our partners overcome obstacles and address systemic gaps. We’re proud that our support of Elemental helped make critical projects happen in frontline communities and look forward to the additional impact they will make with this new investment.”
Naveen Sikka, board member of Elemental and CEO of Terviva, one of Elemental’s earliest investments, added: “This is exactly what entrepreneurs and the climate innovation field needs – investment dollars and expert support to mobilize private capital and enable scale. And this is exactly what Elemental has been consistently delivering since its founding. In this next chapter, Elemental is poised to make an even greater impact for communities.”
