Enduring Planet has secured a $500,000 recoverable grant from Realize Impact, enabled by funding from the Schmidt Family Foundation. The grant will serve as first-loss capital in the climate tech lender’s second financing vehicle, Enduring Climate Fund II.
Washington, DC-based Enduring Planet deploys non-dilutive working capital to early-stage climate companies operating in the US. They project that the recoverable grant could unlock up to $9.5 million in additional private and institutional investment toward a projected $20 million close for the fund. That catalytic layer, which sits below a previously announced credit guarantee from the Community Investment Guarantee Pool managed by Locus, creates a de-risked capital stack designed to accelerate Enduring Planet’s deployments.
CEO Dimitry Gershenson tells ImpactAlpha that the recoverable grant is “a huge win” that will “dramatically accelerate our journey towards ensuring that all climate entrepreneurs have the capital they need to solve the climate crisis.”
