Private Equity
Private Equity Energy Transition Investment Focus
Venture Capital
- Capital light specialist energy transition venture backed businesses, many of which are solving for higher levels of energy efficiency. Software ahead of hardware.
- Breakthrough clean technologies where a path to economic viability is provable without government subsidies or carbon taxation, generally where the cap table is highly strategic with corporate partners and value adding venture and private equity investors.
- See ET VC sector focus framework >
Growth Equity/Buyouts
- Growth equity investments in breakthrough technologies made alongside strategic corporate partners who can derisk much of the growth phase through offtake agreements and technical support.
- Mature businesses providing “picks and shovels” to the renewables and electric vehicles businesses– e.g., software, services, components that are critical to the build out of renewables, electricity transmission, electric vehicles, charging stations, etc.
Infrastructure
- Infrastructure investments in the “first 10%” of renewable energy infrastructure development (pre-construction).
Where we do not invest
- Not investing in mature commodity businesses such as solar panels, wind turbines, heat pumps, operational renewables facilities, mining & materials.
- We will generally avoid capital intensive businesses at a point where significant technology, regulation and commercial scaling risk remains, unless there is a clear path to financing through the “valley of death” and to the achievement of attractive scale unit economics.
- Businesses without a clear pathway to attractive exits.
