Plug and Play Launches Sustainability Fund to Combat Climate Crisis

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Nov 19, 2024, 13:30 ET

SUNNYVALE, Calif., Nov. 19, 2024 /PRNewswire/ -- Plug and Play Sustainability is proud to announce the closing of the Plug and Play Sustainability Fund I. This venture capital fund focuses on investing in revolutionary startups tackling the critical issues of industrial decarbonization, the circular economy, energy transition, and water resilience.

"Plug and Play has a strong history of investing in groundbreaking sustainability startups," says Matthew Claxton, Partner & Co-Founder of Plug and Play Sustainability Vertical and the Plug and Play Sustainability Fund. "We've been early backers of impactful companies like Heirloom, Sylvera, and Circulor. The Plug and Play Sustainability Fund allows us to expand our efforts and empower even more startups tackling hard-to-abate sectors."

The Plug and Play Sustainability Fund builds upon the success of the Plug and Play Sustainability vertical, launched on October 23, 2019. Now spanning 12 global locations, this program identifies and supports high-impact startups creating sustainable solutions. With the launch of the fund, Plug and Play is doubling down on its commitment to sustainability by providing early-stage startups with the capital they need to scale their impact.

"We are incredibly excited to announce we have raised a dedicated fund specifically designed to invest in companies that offer strong financial returns while also making a significant positive impact on the environment. By doing this, we aim to contribute to a more sustainable future that benefits both people and the planet for generations to come," says George Damouny, Partner at Plug and Play.

The fund has already invested strategically in promising startups such as Mona Lee, Vaulted Deep, Gigablue, Ucaneo, General Galactic, Queens Carbon, Isometric, and Carbon Run, demonstrating its commitment to fostering innovation across the sustainability landscape. Plug and Play plans to make 20 additional investments over the next two years.

"At Vaulted Deep, we're thrilled to be part of the Plug and Play Sustainability Fund. It's a game-changer for innovative startups like ours that are working on critical solutions for the climate crisis," said Julia Reichelstein, CEO & Co-Founder of Vaulted Deep. "Plug and Play's impressive track record and global network are exactly what we need to scale our deep geologic carbon storage technology while protecting local land, air, and water. This fund is a powerful force for good, and I'm so excited to collaborate with Plug and Play and the other visionary companies involved."

The Plug and Play network offers a unique opportunity for both forward-thinking corporations seeking innovative solutions and promising startups seeking funding. With over 550 partners and 90,000 startups in its network, Plug and Play provides a platform for collaboration and growth.

Visit https://www.plugandplaytechcenter.com/join/ to learn more about how you can contribute to a more sustainable future.

About Plug and Play

Plug and Play is the leading innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we're present in 60+ locations across five continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and manage over $1 billion in AUM across our funds, driving innovation across multiple industries where we've invested in hundreds of successful companies, including Dropbox, PayPal, Guardant Health, Honey, N26, Rappi, Turing, and more. For more information, visit https://www.plugandplaytechcenter.com/.

Media Relations Contact
Allison Romero
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SOURCE Plug and Play