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Ever.green Raises $6.1 Million to Enable Companies of All Sizes to Meaningfully Invest in the Clean Energy Transition
Climate startup secures venture funding to expand its corporate sustainability solutions and reach new customers.
SEATTLE - Ever.green, a Seattle-based startup for clean energy solutions, announced today it has raised $6.1 million of seed funding. The round was led by Designer Fund and PSL Ventures, with additional support from Baker Tilly, Fin Capital, City Light Capital, and Climate Capital. The company was founded in 2021 by Cris Eugster and Michael Leggett, both of whom are passionate about building a company that has a positive impact on the climate by accelerating the transition to renewable energy. The company is a spinout of Pioneer Square Labs.
"We’re thrilled to have the support of such a distinguished group of investors who share our vision for a more sustainable future," said Cris Eugster, CEO of Ever.green. "This funding will allow us to grow our team and further develop our platform, so we can continue to enable companies of all sizes to decarbonize and ultimately put more clean energy on the grid in areas that need it most."
Ever.green is a marketplace that enables companies to meaningfully participate in the energy transition by supporting new renewable energy projects. Companies with sustainability goals can commit to forward contracts for high-impact Renewable Energy Certificates (RECs) that help stand up new solar projects, especially in areas with fossil fuel-reliant grids.
With the passage of the Inflation Reduction Act, companies can now buy transferable clean energy tax credits through Ever.green’s marketplace - providing needed capital to projects and financial returns to the buyer. Much of the due diligence is automated through a robust and standardized process within the marketplace, removing costs, risk, and complexity from the historically bespoke market. This has the potential to transform project financing and accelerate the energy transition.
"We need an order of magnitude more renewable energy projects to turn the tide on climate," said Greg Gottesman, managing director of Pioneer Square Labs. "The truth is, we weren’t going to get there in large part because the renewable projects weren’t profitable enough to justify investment. The Inflation Reduction Act and Ever.green’s marketplace radically change the profitability of clean energy projects, and I believe Ever.green will be a critical player as we figure out how to build more renewable energy."
Enrique Allen, managing partner at Designer Fund, believes, “Ever.green can use good design to help companies achieve their net zero carbon emission goals and maximize the incentives of the Inflation Reduction Act, to ultimately build new renewable energy projects in underserved communities.”
With this new round of funding, Ever.green will continue to develop its marketplace, expand its offerings to additional clean energy technologies, and reach a broader audience, making it easier than ever for businesses to support clean energy projects and contribute to a more sustainable future.
Ever.green is a clean energy project funding and tax credit marketplace that empowers businesses of all sizes to participate in the energy transition, meet their sustainability goals, and make a financial return. Through Ever.green, companies can commit to forward contracts for high-impact Renewable Energy Certificates (RECs) that help stand up new solar projects or purchase clean energy tax credits at a discount. Ever.green's marketplace includes streamlined due diligence, filing, and compliance monitoring services to reduce risks and maximize efficiency for all parties. Visit ever.green to learn more or apply to join the team at ever.green/about.
About PSL Ventures
PSL Ventures is a Seattle-based venture capital fund that invests in early-stage technology companies, primarily based in the Pacific Northwest. PSL Ventures is a part of Pioneer Square Labs, which also operates a startup studio to create and launch new companies with local founders. For more information, visit psl.com.
About Designer Fund
Designer Fund invests in Pre-Seed through Series A companies that use design to improve health, sustainability, and prosperity for all people. Designer Fund provides founders with expertise on hiring and managing design teams, product and brand design advice and professional development with their community of design leaders. Designer Fund has invested in multi-billion dollar companies like Stripe, Gusto, Notion, Commure, and Netlify and has raised three funds totaling over $80M since 2014. For more information, visit designerfund.com.
About Baker Tilly US, LLP
Baker Tilly US, LLP (Baker Tilly) is a leading advisory CPA firm, providing clients with a genuine coast-to-coast and global advantage in major regions of the U.S. and in many of the world’s leading financial centers – New York, London, San Francisco, Los Angeles and Chicago. Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 145 territories, with 41,000 professionals and a combined worldwide revenue of $4.7 billion. For more information, visit bakertilly.com.
About Fin Capital
Fin is a global asset management firm focused on full life cycle investing in B2B FinTech companies across the US, Europe, and LatAm. With offices in San Francisco, New York, Los Angeles, Miami and London, Fin’s investing platform includes Point of Inception (Regatta, Pre-Seed / Seed), Early Stage (Flagship, Series A-B), Growth Equity (Horizons, Series C+), and Public Equity (Constellation) strategies, and has invested in over 110 portfolio companies globally. The firm focuses broadly across FinTech in ten sub-sectors: Asset Management/Capital Markets, CFO Tech Stack, Impact Tech, InsurTech, Enabling Tech/Infrastructure, Next-gen Banking, PropTech, RiskTech, Vertical FinTech, Web 3 Infrastructure, For more information, visit fin.capital.
About City Light Capital
City Light is a venture capital firm that invests early in impactful companies. The firm partners with experienced teams building category-defining solutions in the areas of education, climate, and care — where more revenue equals better lives at scale, every time. As one of the earliest and most successful impact investing firms, City Light has a track record of identifying and scaling impact in ways that build better companies. Key portfolio investments include 2U (Nasdaq: TWOU), ShotSpotter (Nasdaq: SSTI), Trilogy (Acquired by TWOU), Ginger (now Headspace Health), and OhmConnect. For more information, visit citylight.vc.
About Climate Capital
Climate Capital is a venture firm focused on investing in climate solutions across geographies, stages, and verticals, from carbon reduction & removal to adaptation. Since its inception, Climate Capital has invested in over 250 of the world's most outstanding climate startups including Arcadia, BlocPower, and Mosaic. For more information, visit climatecapital.co.