Textile recycling. Clean energy permitting. Bio-manufacturing. Elemental Impact this week unveiled $18.6 million in investments across 16 climate tech companies.
The startups are based in the US, Canada and New Zealand and were selected from more than 700 that responded to Elemental’s call for applications in the spring. With the equity investments, Elemental aims to build a pipeline of climate solutions and projects.
“The majority of our investments are focused on deploying projects with deep climate and community impact,” Elemental’s Dawn Lippert told ImpactAlpha.
SuperCircle in New York is a turnkey textile recycling program for fashion brands. Foray Bioscience, in Cambridge, Mass., cultivates plant cells that can be used to produce a variety of goods and preserve natural plant stocks. New Zealand-based Aspiring Materials converts olivine rocks into minerals and carbon-capturing materials. Symbium in San Francisco speeds up permitting for solar developers, while MetOx in Houston makes high temperature superconducting wire that can boost grid transmission.
Project funding
The Honolulu-based nonprofit investor also provides follow-on equity and debt investments to help companies scale, as well as project funding for federal Greenhouse Gas Reduction Fund projects. In September, Elemental received $100 million from the Coalition for Green Capital, the network of green banks that was awarded $5 billion from the Greenhouse Gas Reduction Fund, for place-based projects.
“We anticipate the volume of investments rising significantly in 2025 as we expand our investment platform,” Lippert said.
