Climate tech investor Elemental Excelerator is seeking applicants for its next cohort and says it will invest up to $3 million in catalytic capital per company. This will mark Elemental’s largest project investment to date, the nonprofit investor stated in a recent announcement.
According to the announcement, Elemental Excelerator is seeking 15-20 companies for the next cohort, which will be its 13th.
Applicants for the program should be for-profit startups that are addressing climate change and related issues, according to information on Elemental’s website. Cohort companies also should have at least two full-time employees, and are required to have at least an operating prototype.
Applications for Cohort 13 are due May 31, and the program will begin in February 2025.
To date, Elemental has invested $79 million in more than 160 companies, according to its website.
“As climate financing evolves, we’re committed to addressing critical funding gaps and expanding opportunities for impactful projects,” said Danya Hakeem, VP of Portfolio at Elemental Excelerator, in a statement. “Over the past five years, we’ve observed a growing disparity between early- and late-stage funding, particularly for project deployments. To bridge this gap, Elemental is rolling out its largest capital opportunity yet, along with expanded services for project development, finance and community engagement. We are thrilled to open applications and welcome new additions to our portfolio.”
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