Climatetech angel investor community activity grows 162% year-over-year and increases membership driven by rising interest in climate action, impact and returns
SEATTLE, March 8, 2023 /PRNewswire/ — E8, an angel investor community specializing in early stage climatetech enterprises for both profit and ecological sustainability, announced 2022 investment activity of $8.79 million in 34 companies. Angel investments play a crucial role in allowing innovation to reach the market and achieve early growth, and over time these early investments have sparked more than $1.5B in follow-on funding by later stage and corporate investors. E8’s national and international membership has grown to more than 140 families and funds.
Since 2006, E8 has offered accredited investors access to 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, E8’s network brings together interest, passion and expertise from across the US and internationally.
Several factors have driven E8’s record growth. Favorable policies and stimulus from the Inflation Reduction Act and at the state level are accelerating the adoption of decarbonizing technologies, from electric vehicles to heat pumps and hydrogen.
E8’s investment platform itself has also grown, making it easier for families and funds to invest in the climatetech deals they love. Further enhancing E8’s strong, collective due diligence process and analysis is an annual priority, supported by members and Fellows from the University of Washington and Washington State University. E8 also makes complementary investment options accessible, including using philanthropic capital to invest in these vital, cutting-edge technologies.
Most importantly, E8’s activity is powered by the passions and acumen of its members, who share the goal of both accelerating climatetech’s systemic impact and participating in the financial upside as the world’s economy transitions to new technologies.
“This is an extraordinary moment for climatetech and E8 is an extraordinary community for meeting it,” said KD Hallman, Co-chair of the Board. “E8 gives investors, philanthropists and others a very unique and rewarding way to participate personally in the special opportunities of today. Everyone shares a love for climate action, entrepreneurship and technology, and we find a lot of fun and inspiration as well as deals together.”
E8 also welcomed the Microsoft Corporation and J.P. Morgan Private Bank as sponsors. As CJ Voss, partner at longtime sponsor K&L Gates noted, “We have a shared interest and urgency in supporting game-changing innovation and scale in climatetech. E8 fills a clear niche for investors, giving them access to great deals and a chance to roll up their sleeves and learn and invest together. We’ve been partners since the beginning, lending our expertise to both investors and entrepreneurs.”
Highlights for the year include:
- 2022 investments of $8.79M in 26 companies: E8 members make direct investment in enterprises, as well as using other vehicles where useful such as special purpose vehicles. The largest investments included UrbanX, Steelhead Composites, UbiQD, NVirovate and Recurrent. Others include EnZinc, Clean Fiber, Embue, Global Neighbor, Terra.do, Symbrosia, PittMoss, Beta Hatch, Columbia Power Technology, Active Energy Systems, Noteworthy.ai, Clean Crop Technologies, C-Motive, Climate Robotics, Blue Ocean Gear, QD Solar, 60 Hertz, Rebellyous, Xeal, GroGuru, Pure Watercraft, ChargerHelp!, GoPowerEV, Tidal Vision, Harvest Thermal, Zilaworks, Spark Charge, Atmos and Vartega.
- Cumulative E8 community investments reach $57.3M: E8, previously named Element 8 and Northwest Energy Angels, estimates its total investment since 2006 at $57.3M. Investment numbers are self-reported by E8 members and likely doesn’t capture all activity.
- Supplementing direct investment with new funds and vehicles that make it easier for climatetech investors to participate. E8’s direct investment by members is supplemented by its annual Decarbon8 effort, which is both a thematic summer deal competition and a fund for investing in those companies easily with donor advised funds and other philanthropic capital. The 2022 round, focused on agriculture, will be followed by this year’s theme, “the built environment.” Further, the affiliated E8 Ventures is nearing the first close of a venture fund that will further support E8 members and entrepreneurs; please inquire to learn more.
- Partners and the expansion of E8’s community and capacity: E8 is honored to support more than 140 member families, funds and companies, with high member satisfaction and growth in 2022. The E8 community would not be possible without the support of its sponsors: Microsoft, J.P. Morgan Private Bank, University of Washington’s Clean Energy Institute, Washington State University, K&L Gates, VertueLab, Craft3, Global Sustainable Future, the Cleantech Alliance and North Coast Digital. Additional support is provided by the Stolte Family Foundation.
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 E8 Ventures, donor advised fund impact investments, and a philanthropic fund for accelerating decarbonization. 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)
Dana Robinson, Board of Directors