Investment in Clean Energy Data Platform Represents Seventh Deal in Firm’s Inaugural Venture Fund
Aligned Climate Capital, an investment firm focused on decarbonizing the global economy, announced that it has closed a $5mm Series A investment in UtilityAPI, a data service provider for the clean energy economy. This represents the seventh investment in Aligned’s inaugural venture fund, the Aligned Climate Fund, and Aligned will be joining the Company’s Board of Directors.
“By backing early-stage companies that use proven clean energy technologies, we believe you can make smart venture investments that minimize technology risk.” – Peter Davidson, Aligned Climate Capital CEO
UtilityAPI provides secure, standardized, and authorized access to utility data. The company was founded with a mission to fight climate change by offering a simple, fast solution for requesting and downloading utility customer bills and interval data, shared only with explicit customer consent, and revocable at any time. This streamlines the sales process for clean energy companies, allowing them to provide clean energy solutions faster, and more cheaply.
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“Data access shouldn’t be a roadblock to clean energy deployment,” said Aligned Climate Capital CEO Peter Davidson. “UtilityAPI makes it quick and easy for clean energy companies and utilities to share data, while still protecting consumer privacy.”
The Aligned Climate Fund targets Seed through Series B investments in companies across four target sectors: clean energy, efficient buildings, electric transport, and sustainable land use. Specifically, Aligned focuses on companies that are scaling and enabling the deployment of proven technologies, like solar, electric vehicles, batteries, and more. Launched in March 2021, the Fund held a final close in January 2022 at $42 million of commitments and is now more than 80% committed across seven investments.
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“We are out to prove that investors can achieve strong financial returns and help fight climate change at the same time,” continued Davidson. “By backing early-stage companies that use proven clean energy technologies, we believe you can make smart venture investments that minimize technology risk.”
Aligned Climate Fund Portfolio Companies
The Aligned Climate Fund has invested in seven companies to date. Each company is focused exclusively on climate and six of the seven ACF portfolio companies are led by women or people of color.
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