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Venture Capital
newenergynexus.com

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Investments

42

Portfolio Exits

1

Funds

3

Partners & Customers

1

About New Energy Nexus

New Energy Nexus is a global network of clean energy incubators and accelerators. New Energy Nexus facilitates collaboration between startups, accelerators and industry around the world.

New Energy Nexus Headquarter Location

436 14th Street Suite 1220

Oakland, California, 94612,

United States

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Latest New Energy Nexus News

SWTCH Raises $13 Million to Provide Equitable Access to Electric Vehicle Charging Infrastructure in Communities Across North America

May 2, 2022

SWTCH is poised to improve electric vehicle charging accessibility with low-cost solutions tailored to multi-family buildings at all income levels April 27, 2022 08:00 AM Eastern Daylight Time TORONTO--( BUSINESS WIRE )--SWTCH Energy Inc. has closed $13 million USD in new financing to expand its electric vehicle (EV) charging solutions to multi-family buildings across North America, with an emphasis on serving the transition to electrified transportation for market-rate and low-to-moderate income (LMI) communities. The new capital includes a $10 million USD Series A round led by the venture capital arm of Aligned Climate Capital and a $3 million USD credit facility from Silicon Valley Bank . Additional Series A investors include Landmark Management Inc. , Elemental Energy , IBI Group , Active Impact Investments , and Pacific Reach . SWTCH provides EV charging and energy management solutions that address the unique challenges of EV ownership in multi-family buildings of all kinds. SWTCH's unique approach to EV charging and energy management lowers the financial and technological barriers to EV ownership by employing cost-effective, software-based energy management solutions to multi-family buildings where electrical infrastructure hardware upgrades can be prohibitively expensive. Additionally, SWTCH's charging-as-a-service model reduces the financial barriers to providing equitable access to EV charging infrastructure, which eliminates the upfront costs and reduces the operational costs of EV charging management by incorporating clean fuel standard credits, charging infrastructure incentives, and ancillary service market participation as part of the core offering. "SWTCH's mission is centered on realizing the social, economic, and environmental benefits of widespread EV adoption," said Carter Li, CEO of SWTCH. "We know that more than 80% of EV charging occurs at home and 30% of homes in North America are multi-family, so improving access to EV charging infrastructure in multi-family buildings is critical to enabling widespread EV adoption. With over 75% of our charging stations currently deployed in multi-family buildings, SWTCH strongly believes in the importance of providing equitable, convenient, and affordable charging access at home, where people need it the most. This round of new financing will help us accelerate our growth into these locations by expanding our ability to fund more charging-as-a-service projects in low- and moderate-income communities across North America.” "With rising gas prices, more and more Americans are looking to purchase electric vehicles. But that means we need more charging infrastructure and we need it where people live,” said Peter Davidson, CEO of Aligned Climate Capital. "We are proud to invest in a company that makes it easier for people to go electric, save money, and be a part of the climate solution.” “SVB is excited to support SWTCH as they scale EV charger deployments in the critical multi-family building segment,” said Graeme Millen, Managing Director at SVB Canada. “Providing creative capital to enable SWTCH’s Charging-as-a-Service model is aligned with our commitment to the Climate Tech and Sustainability sector and helping accelerate the impact of companies and founders developing and scaling game-changing technology.” SWTCH charging systems are currently installed in 200 multi-family buildings, 50% of which are classified as low-to-moderate income. As a current cohort of the Clean Fight Program , a not-for-profit climate-tech accelerator supported by the New York State Energy Research and Development Authority (NYSERDA) and New Energy Nexus, SWTCH is collaborating with other clean building technology providers to decarbonize and electrify the mass of New York’s non-luxury residential and commercial buildings, in order to generate equitable climate impacts while providing health, comfort, and savings benefits to LMI communities most impacted by the climate crisis. Under the new $2.5 billion Discretionary Grant Program for Charging and Fueling Infrastructure established by President Biden’s $7.5 billion Bipartisan Infrastructure Law , at least 50 percent of this funding will be used for a community grant program where priority is given to projects that expand access to EV charging and alternative fueling infrastructure within LMI communities. “SWTCH was selected as one of just a handful of cohort companies from a very competitive applicant pool to participate in the Clean Fight program that’s focused on high impact solutions that bring the environmental, economic and health benefits of deep decarbonization to non-luxury buildings. After less than six months in the program, SWTCH is already working on new installations in LMI communities in NY with two different partners in The Clean Fight, in collaboration with two other participating cohort companies,” said Thatcher Bell, Program Director at The Clean Fight. By the end of 2022, SWTCH expects to manage 5,000 charging ports in over 900 locations in all 50 U.S. states and 10 Canadian provinces, of which over 50% will be in low-to-moderate income multi-family buildings. About SWTCH Energy Inc. SWTCH is headquartered in Toronto, Ontario with offices in Brooklyn, New York and Boston, Massachusetts. The company electric vehicle (EV) charging and energy management solutions streamline charging for drivers while optimizing usage and revenue for multi-family building operators. SWTCH is a proud member of Open Charge Alliance (OCA), OpenADR Alliance, and CharIN, basing its EV charging platform on open communication standards to ensure interoperable, scalable, and future-proof charging solutions to its clients. About Aligned Climate Capital Aligned Climate Capital LLC is an asset manager investing exclusively in the people, companies, and real assets that are decarbonizing the global economy. Founded in 2019, Aligned is a dynamic and mission-driven firm that believes solving climate change is a unique opportunity to generate strong financial returns, while also achieving meaningful environmental and social impact. The team works at the intersection of finance, technology, and public policy with a particular focus on ESG metrics. For more information, please visit www.AlignedClimateCapital.com . About Silicon Valley Bank Silicon Valley Bank (SVB) helps innovative companies and their investors move bold ideas forward, fast. SVB provides a full range of financial services and expertise to companies of all sizes in innovation centers around the world. SVB is recognized as one of the world’s best employers by Forbes, and is a member of the Bloomberg Gender Equality Index. In 2022, SVB committed to provide at least $5 billion by 2027 in loans, investments and other financing to support sustainability efforts and the company has set a goal to achieve carbon neutral operations by 2025. SVB’s sustainable finance commitment aims to support companies that are working to decarbonize the energy and infrastructure industries and hasten the transition to a sustainable, net zero emissions economy. Learn more at svb.com/Canada . About The Clean Fight – New Energy Nexus The Clean Fight is a not-for-profit clean energy accelerator designed to attract growth-stage startups to scale business in New York State. Supported by The New York State Energy Research and Development Authority (NYSERDA) and New Energy Nexus, this accelerator is open to companies from across the United States and around the world who are aggressively advancing ways to meet carbon reduction mandates, while boosting economic opportunity and job creation for all. www.thecleanfight.com . Contacts

New Energy Nexus Investments

42 Investments

New Energy Nexus has made 42 investments. Their latest investment was in Synergy Efficiency Solutions as part of their Seed VC on March 3, 2022.

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New Energy Nexus Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

3/31/2022

Seed VC

Synergy Efficiency Solutions

Yes

1

3/29/2022

Pre-Seed

Powerchain

Yes

1

3/18/2022

Seed VC

Swap

Yes

1

1/12/2022

Series A

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$99M

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10

7/15/2021

Seed VC - III

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10

Date

3/31/2022

3/29/2022

3/18/2022

1/12/2022

7/15/2021

Round

Seed VC

Pre-Seed

Seed VC

Series A

Seed VC - III

Company

Synergy Efficiency Solutions

Powerchain

Swap

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Amount

$99M

New?

Yes

Yes

Yes

Subscribe to see more

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Co-Investors

Sources

1

1

1

10

10

New Energy Nexus Portfolio Exits

1 Portfolio Exit

New Energy Nexus has 1 portfolio exit. Their latest portfolio exit was Allopartis Biotechnologies on October 10, 2013.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/10/2013

Acquired

1

Date

10/10/2013

Exit

Acquired

Companies

Valuation

Acquirer

Sources

1

New Energy Nexus Fund History

3 Fund Histories

New Energy Nexus has 3 funds, including CalCEF Clean Energy Angel Fund I LP.

Closing Date

Fund

Fund Type

Status

Amount

Sources

9/24/2010

CalCEF Clean Energy Angel Fund I LP

Early-Stage Venture Capital

Closed

$6M

1

4/9/2008

CalCEF Clean Energy Fund I LP

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$99M

10

Indonesia 1 Fund

10

Closing Date

9/24/2010

4/9/2008

Fund

CalCEF Clean Energy Angel Fund I LP

CalCEF Clean Energy Fund I LP

Indonesia 1 Fund

Fund Type

Early-Stage Venture Capital

Subscribe to see more

Status

Closed

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Amount

$6M

$99M

Sources

1

10

10

New Energy Nexus Partners & Customers

1 Partners and customers

New Energy Nexus has 1 strategic partners and customers. New Energy Nexus recently partnered with Berkeley Lab on May 5, 2012.

Date

Type

Business Partner

Country

News Snippet

Sources

5/29/2012

Partner

United States

Lawrence Berkeley National Laboratory and CalCEF Galvanize California’s Battery Industry - CalCEF - CalCEF

SAN FRANCISCO and BERKELEY , Calif. -- May 29 , 2012 -- CalCEF , which creates institutions and investment vehicles for the clean energy economy , and Lawrence Berkeley National Laboratory today announced a partnership to launch CalCharge , a consortium uniting California 's emerging and established battery technology companies with critical academic and government resources .

2

Date

5/29/2012

Type

Partner

Business Partner

Country

United States

News Snippet

Lawrence Berkeley National Laboratory and CalCEF Galvanize California’s Battery Industry - CalCEF - CalCEF

SAN FRANCISCO and BERKELEY , Calif. -- May 29 , 2012 -- CalCEF , which creates institutions and investment vehicles for the clean energy economy , and Lawrence Berkeley National Laboratory today announced a partnership to launch CalCharge , a consortium uniting California 's emerging and established battery technology companies with critical academic and government resources .

Sources

2

New Energy Nexus Team

12 Team Members

New Energy Nexus has 12 team members, including current President, Dan Adler.

Name

Work History

Title

Status

Dan Adler

President

Current

Michael Peevey

President

Current

Jon Foster

Senior Vice President

Current

Paul Frankel

Managing Director

Current

Kate Frucher

Imprint Partners, Axiom, New York City Government, Corporation for National and Community Service, and White House

Managing Director

Current

Name

Dan Adler

Michael Peevey

Jon Foster

Paul Frankel

Kate Frucher

Work History

Imprint Partners, Axiom, New York City Government, Corporation for National and Community Service, and White House

Title

President

President

Senior Vice President

Managing Director

Managing Director

Status

Current

Current

Current

Current

Current

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