Applications Open Until May 31st, Offering Catalytic Capital and Expanded Services for Climate Projects,
Including Elemental's Largest Project Investment Yet

HONOLULU and SAN FRANCISCO, April 11, 2024 /PRNewswire/ -- Elemental Excelerator, a nonprofit investor scaling climate technologies for deep community impact, announced the opening of applications for their next investment cycle from the stage at its annual Interactive event. Built on the belief that success requires more than just funding, Elemental provides a comprehensive suite of services, resources and events to drive commercial success and social impact.

Elemental is investing up to $3 million in catalytic capital per company for the 15-20 companies it will accept into its latest cohort – its largest project investment to date. This presents a significant opportunity for high-impact climate innovators to access the necessary capital and tailored support required to achieve widespread adoption of their promising and essential climate technology. Additionally, Elemental is expanding its co-investor-network, fostering relationships with public and private funders, philanthropy and project partners to support companies as they scale.

The Elemental Interactive event, hosted by Emmy-nominated actor, writer, producer, and former Associate Director of the White House Office of Public Engagement, Kal Penn, featured esteemed speakers within the climate sector, including Laurene Powell Jobs, Founder of Emerson Collective, and Tom Steyer, Co-Executive Chair of Galvanize Climate Solutions. During the event, Elemental highlighted the remarkable projects of several portfolio companies. Among these were notable representatives from previous cohorts, such as Joshua Aviv of SparkCharge, Rebecca Hu from Glacier, Tim Latimer representing Fervo Energy, Megan O'Connor from Nth Cycle and Kameale C. Terry of ChargerHelp!, sharing firsthand accounts of how Elemental's support has positively impacted their businesses.

"As climate financing evolves, we're committed to addressing critical funding gaps and expanding opportunities for impactful projects," said Danya Hakeem, VP of Portfolio at Elemental Excelerator. "Over the past five years, we've observed a growing disparity between early- and late stage funding, particularly for project deployments. To bridge this gap, Elemental is rolling out its largest capital opportunity yet, along with expanded services for project development, finance and community engagement. We are thrilled to open applications and welcome new additions to our portfolio."

The nonprofit investor is growing its suite of services to provide comprehensive support for project development and financing, offering coaching in project finance, strategic guidance on deal structures, engineering, procurement, construction and offtake advisory, as well as fractional CFO support to bolster capacity. In addition, Elemental is providing coaching in community engagement and policy, focusing on workforce development, community benefits plans and government affairs strategies.

Matt Leducq, CEO of Forum Mobility, an Elemental portfolio company, shared, "The partnership with Elemental not only aided significantly in funding the development of our project but the team at Elemental was instrumental in working with communities, policymakers, and stakeholders - ensuring the project does well by doing right. Since our first project, Elemental has also doubled down, investing in Forum beyond our initial project and helping us unlock other funding."

For over 14 years, Elemental has been fostering a vibrant community of entrepreneurs, having made investments in over 150 companies to date. Not only has the organization invested over $79 million in its portfolio companies, but these ventures have also collectively raised over $10 billion in follow-on funding.

Elemental Excelerator invites eligible entrepreneurs with innovative climate solutions to apply for their latest investment cycle before the application deadline on May 31st. As a partner to winning coalitions of the EPA's recently announced $20B Greenhouse Gas Reduction Fund (GGRF), a self-sustaining fund focused on investing in climate projects, Elemental anticipates having access to increased capital this summer to expand our community-centered climate strategy and invest in additional companies with qualified projects. If you are interested in joining the Elemental portfolio, apply now to receive preferential review for GGRF investments made this year. Further details and expanded investment opportunities will be announced in the upcoming months.

About Elemental Excelerator
Elemental is a nonprofit investor in climate technologies with deep community impact. Elemental has a 14-year track record of investing in companies scaling essential climate solutions that make neighborhoods and homes cleaner, healthier, safer, and more affordable. Elemental, which has successfully stewarded $180 million in government and philanthropic resources, de-risks technologies for additional investment and centers social equity and community impact in project deployment.

Contact: [email protected]

SOURCE Elemental Excelerator