Energy Impact Partners has closed the EIP Deep Decarbonization Frontier Fund I LP, oversubscribed with global investor support, at $485m, according to a press release.
The fund will invest in climate technologies, focusing on companies that have achieved early technical validation but have not yet reached maturity at scale. It has already invested in 12 companies, including: Form Energy, Nitricity, Carbon America, Sublime Systems, Electric Hydrogen and Rondo Energy.
The investment in Electric Hydrogen was joined by Breakthrough Energy Ventures, Capricorn Technology Impact Fund, and Prelude Ventures.
Founded in 2015, EIP has enabled more than 350 contracts, more than $1bn in bookings and business to a portfolio of 100+ companies.
Including this fund, EIP has raised more than $3bn and saw the majority of existing strategic investors commit to the Frontier Fund, adding to a diverse LP base comprised of corporates, banks, sovereign wealth funds, family offices, high net worth individuals and foundations from North America, Asia and Europe.
