Exactly one year ago, LACI announced the LACI Impact Fund (LIF) for early-stage cleantech startups, as part of a relaunch of its cohort-based startup program. The $5 million LIF considers investment in LACI portfolio companies that are in good standing, have an active round of investment with a lead investor, and have demonstrated strong commitment to impact. The LIF provides our startups with an opportunity to have access to capital that aligns with LACI’s social impact priorities. In 2020, LACI invested in 6 companies, with a number of companies in its pipeline for future investments.
LACI-incubated startups are eligible to apply to the LIF if they: A) have an open and active round with a specified lead; B) secure a sufficient score based on their commitment to environmental, social and economic impact. Startups selected for this year’s incubation cohort will be eligible for investments as well. The application deadline is this Friday, January 15. Startups selected for LACI’s incubation program and for the LACI Impact Fund must focus on one of LACI’s Technological Priorities: Zero Emissions Transportation, Clean Energy and Circular Economy.
“Through the LACI Impact Fund, we are delighted to invest in our startup companies that are working day in and out to create an inclusive green economy,” said Matt Petersen, Managing Director of the Fund and CEO of LACI, reflecting on the investments to date.
The launch of the LIF included investments in Seatrec and FreeWire. Subsequently, 6 companies received funding from the Impact Fund in 2020, and continue to scale their products into markets across the country and world. All LACI Impact Fund companies are listed below:
- Ampaire
Founders: Kevin Noertker & Cory Combs
Company Mission: Ampaire is designing and developing high performance zero-emission aircraft to help improve efficiency and reduce aviation’s impact on climate change.
- Envoy
Founders: Aric Ohana & Ori Sagie
Company Mission: Envoy is committed to providing affordable, convenient and sustainable shared mobility to communities by offering Mobility as an Amenity™ where you live, work, or stay.
- FreeWire
Founder: Arcady Sosinov
Company Mission: FreeWire Technologies provides clean, quiet mobile power and fast charging that’s easy to deploy, wherever and whenever you need it.
- Nature Coatings
Founder: Jane Palmer
Company Mission: Nature Coatings transforms wood waste into high performing black pigments.
- Pick My Solar
Founders: Max Aram & Chris Blevins
Company Mission: Pick My Solar is the first managed marketplace for the residential solar and energy storage market.
- Repurpose
Founder: Lauren Gropper
Company Mission: Repurpose is a line of sustainable tableware that looks out for the health of you, your family, and the planet.
- Seatrec
Founder: Yi Chao
Company Mission: Seatrec designs and manufactures energy harvesting solutions that generate electricity from naturally occurring temperature differences in ocean waters.
- Xeal
Founders: Xander Isaacson & Nikhil Bhardwaj
Company Mission: Xeal accelerates electric vehicle adoption by making charging stations work anywhere for anyone.
The LACI Impact Fund will continue investing in new cleantech innovation throughout 2021. To find out more about the LACI Incubation Program or the Impact Fund, please visit LACI’s Incubation Program. Applications for the 2nd Incubation Cohort program are open until January 15th, 2021.
