Leading utility-backed investment and innovation firm expands its equity capital with debt fund to support visionary companies defining the energy future
Energy Impact Partners (EIP), the leading utility-backed energy investment and innovation firm, today announced that it closed its fundraising efforts with up to $681 million to invest in cutting-edge energy technology companies.
The EIP investment capital is comprised of $531 million in capital in its utility-backed Flagship Fund, as well as access to up to $150 million in debt from the U.S. Small Business Administration (SBA) for its credit platform, Energy Impact Credit Fund (EICF).
EIP collaborates closely with 14 forward-thinking utility partners to identify and invest in the key building blocks of tomorrow’s cleaner, more resilient and customer-centric energy landscape. EIP’s utility partners collectively supply over 85 million households with power and gas on four continents, maintain over 1.5 million miles of transmission and distribution lines, and generate over $200 billion in annual revenues.
EIP established EICF to support U.S.-based small- and middle-market businesses, with a specific focus on energy-related investments. The group offers debt financing solutions such as first and second lien secured term loans and unsecured debt. It leverages EIP’s existing infrastructure, deal flow, expertise in equity investing, and utility partner network to broaden the firm’s financial solutions.
EIP’s CEO and Managing Partner Hans Kobler commented, “We are humbled and excited to bring together this incredible coalition of innovative utilities with some of the world’s brightest entrepreneurs to transform and improve the energy landscape. Gaining the confidence and support of the SBA for our debt product will further enhance our ability to achieve that mission.”
EIP has already deployed over $200 million into advanced energy technology companies including Advanced Microgrid Solutions, Arcadia Power, AutoGrid, BHI Energy, Cimcon Lighting, Inc., Clevest, Dragos, ecobee, Enchanted Rock, FirstFuel, Greenlots, Mosaic, Opus One Solutions, Powerphase, Sense, Sparkfund, Tendril, and Urbint. Another EIP portfolio company, smart home security technology firm Ring, was acquired by Amazon in March 2018.