Since launching just over a year ago,
Climatize has successfully funded 11 solar energy projects
totalling more than $4.6M from 950+
individual and institutional investors
SANTA
CRUZ, Calif., Aug. 6, 2024
/PRNewswire/ -- Climatize, an SEC-registered impact investing
platform that allows investors to fund renewable energy projects
while earning up to 10% annually, announced today the close of a
$1.75 million pre-seed round, led by
Myriad Venture Partners. The round also includes investments from
Climate Capital, Techstars, Responsibly Ventures, and Temerity
Capital. Notable angel investors include the co-founder of
GoFundMe, the former operating partner of Bessemer Ventures, and
the head of Americas for a utility-scale renewable energy
developer, Low Carbon.
Historically, small and medium-sized renewable energy projects
across the US have been severely underfunded. Projects at this
scale are not large enough for institutional capital, and they're
often too big for community lenders that aren't familiar with
renewable energy technology or economics. The S&P Global Clean
Energy Technology Market Outlook projects that small-scale solar
systems installed at or near the point of consumption will demand
$1.5 trillion between 2022 - 2030, a
figure that's even larger than the utility scale demand of
$1.3 trillion over the same
period.
Climatize solves this by working with experienced renewable
energy developers across states like North Carolina, Tennessee, Colorado, and Georgia to find high-quality projects and list
them on the Climatize platform. Once these projects are on
Climatize, any investor over the age of 18 that has a US bank
account can fund these opportunities with as little as $10. Solar and other renewable energy
technologies need to be deployed at a much faster rate for us to
reach the ambitious carbon reduction targets established by the
scientific community.
"Climatize was born from the 2019 Global Climate Strikes when we
realized that traditional activism lacked tangible change," said
Will Wiseman, co-founder and CEO of
Climatize. "We built the Climatize platform to enable anyone to
become an active stakeholder in the energy transition by investing
directly in renewable energy projects. We're incredibly excited to
continue deploying solar and other renewable technologies while
giving investors an opportunity to increase their impact and
diversify their portfolios."
Over the past year, Climatize has made big strides towards its
mission of creating the global network for climate-focused
investors which will propel billions of dollars into renewable
energy projects. This will help lower energy costs, electrify and
decarbonize businesses, and mitigate the effects of climate
change.
To date, Climatize's platform has funded 11 projects across
seven states thanks to the 950+ members who have invested over
$4.6 million dollars. These
investments have helped to install solar energy and battery storage
for businesses such as farms, community centers, and houses of
worship. These projects have resulted in 965 kW of new solar
capacity and 1,357 kWh of energy storage added to the grid.
Climatize's platform has helped fund a number of projects for
Ovanova, a solar developer based in the southeastern United States.
"Most banking institutions in rural communities have no idea how
to loan capital against solar or other renewable energy assets, and
as such many potentially lucrative projects aren't built," said
Lester Crafton, CSO & co-founder
of Ovanova. "Climatize has made it possible for rural small
businesses and farmers to access capital that otherwise wouldn't be
available. Thanks to Climatize's platform we were able to build
several projects utilizing debt instead of our working
capital."
"We see a tremendous demand from businesses large and small for
cleaner, cheaper and more reliable energy. Climatize is helping to
achieve this by advancing renewable energy generation projects that
are often underserved by traditional project financers," said
Tim Chiang, co-founder and partner
at Myriad Venture Partners. "The future of clean energy is
distributed, and Myriad is proud to support Climatize's work to
make clean energy financing more efficient, transparent &
accessible for communities and businesses. We look forward to
working closely with the Climatize team as they expand their
offerings, partnerships, and ultimately, impact."
Climatize expects to use these funds to expand their product and
technology roadmap, improve the customer experience, develop
partnerships with key stakeholders, and continue to attract top
talent.
For more information about Climatize, please visit
https://www.climatize.earth/.
About Climatize
Founded in 2023, Climatize is an
SEC-registered impact investing platform that allows investors to
fund renewable energy projects while earning up to 10% annually.
Climatize works with dozens of renewable energy developers across
the United States to source
projects for its platform. Climatize's investing platform allows
any investor in the United States
over the age of 18 to invest in renewable energy projects.
Climatize's co-founders, Will
Wiseman and Alba Forns, are
2023 Forbes 30 under 30 recipients. Climatize was a finalist in
Fast Company's 2024 World Changing Ideas list for both the Company
of the Year and Impact Investing categories. For more
information about Climatize please visit
https://www.climatize.earth/.
About Myriad Venture Partners
Myriad Venture Partners
is an early-stage venture firm defining the future of business
solutions. Investing in visionary AI, clean technology, and B2B
software leaders, Myriad brings decades of expertise and a robust
corporate and financial partnership network. By connecting
entrepreneurs, corporate partners, industry leaders, and
co-investors, Myriad is changing the ways businesses operate,
compete, and create value.
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SOURCE Climatize