Xcel Energy furthers support for diversity, equity and inclusion with new fund

Image by Markus Winkler from Pixabay

Xcel Energy announced today that it is co-chairing and investing in Energy Impact Partners’ Elevate Future Fund as a founding, limited partner. Energy Impact Partners is a global investment platform that supports the development of new, clean energy technologies, and Xcel Energy is already an investor in the company. The new Elevate fund aims to create a more diverse founder community and an inclusive venture capital ecosystem within the clean energy transition.

The Elevate fund has already invested in three diverse companies, including Los Angeles-based ChargerHelp!, a Black women-owned started up that developed a mobile application and web-based platform for rapid, on-demand repair of electric vehicle charging stations. Elevate will help ChargerHelp! Expand its service and improve its technology. The fund has also invested in Project Canary, an international environmental standards company based in Denver, and in a company called HopSkipDrive, which offers innovative, safe and dependable youth transportation for schools, districts, government agencies and families.

“Xcel Energy is deeply committed to building an energy future that reflects the rich diversity of the communities that we serve. We are pleased and proud to have the opportunity to both invest in and co-chair the Elevate Fund,” said Ben Fowke, CEO and chairman of Xcel Energy. “The goals of this fund align with our own and we are excited to support both the development of clean energy technologies and the diverse founders of the companies doing this critical work.”

“I look forward to working with Xcel Energy in creating a more equitable, diverse and inclusive energy transition through the Elevate Future Fund,” said Anthony Oni, managing partner of the Fund at Energy Impact Partners. “With the creation of the Elevate Future Fund, we are addressing the need for the venture capital community to come together to provide better opportunities for underserved communities in our industry. Xcel Energy’s commitment will help us address this need.”

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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