Elemental Impact - Project Track

The Project Track supports companies scaling impactful climate solutions through small and large-scale first-of-a-kind (FOAK) and early-of-a-kind commercial facilities, early commercial projects with distributed assets, and expansion into new geographies.

Focus Areas

• Energy
• Industry
• Food and agriculture
• Nature
• Water
• Transportation

Eligibility

• Company Stage: Series A and beyond
• Requirements: For-profit, stand-alone companies with novel business model or technology
• Minimum 3 full-time employees
• Operating prototype required
• Demonstrated product-market fit preferred
• Team passionate about environmental and local impact

What They Fund

• First-of-a-kind (FOAK) or early commercial project deployment
• Project development and deployment milestones
• Commercial scale facilities
• Geographic expansion projects

What They Don't Fund

• Consulting firms
• Nonprofits
• Acquired startups

Geographic Scope

• U.S. and international projects supported
• Global portfolio deployment

Investment Structure

• SAFE
• Development-SAFE ("D-SAFE")
• Convertible notes
• Direct investment
• Payments typically linked to performance milestones
• Case-by-case evaluation for amount and structure

Services Provided

• Catalytic capital deployment
• Project expertise and hands-on coaching
• Local partnership development
• Investor mobilization
• Stakeholder engagement support
• Policy and regulatory guidance
• Project development support
• Fundraising and co-investment assistance

Time Commitment

• Projects typically last 12-18 months
• Time commitment varies based on project status and management requirements
• Regular monthly check-in calls
• Board observer positions and leadership team participation expected

Portfolio Impact (Historical)

• 2.5x more likely to succeed compared to others in climate tech ecosystem
• $1.4B co-investment into portfolio
• 100x return: for every $1 Elemental invests, companies unlock $100
• 20M lifetime metric tons of CO2 avoided or reduced
• 160+ companies in portfolio
• 150+ projects deployed across U.S. and globally

Contact

• Email: apply@elementalimpact.com
• Offices: Honolulu HI, New York City NY, Washington DC, San Francisco CA

Application Process

1. Submit intake form on the funding opportunities page
2. Applications accepted on rolling basis year-round
3. Review process: Elemental reviews every application received
4. Selection: Team reaches out to select applicants for further conversations
5. Due diligence: Invited companies present additional material for in-depth diligence to determine funding award amounts and structure

Required Information

• Company stage and funding history
• Novel business model or technology description
• Team composition (minimum 3 full-time employees)
• Operating prototype or product demonstration
• Environmental and local impact metrics
• Specific project or initiative details
• Project timeline and milestones

Evaluation Criteria

1. Environmental impacts unlocked by investment (GHG emissions reduction, local environmental benefits)
2. Local impacts (job creation, economic development, energy burden reduction, health outcomes)
3. Business impact of Elemental's support—mission-critical initiatives that are accelerated or de-risked
4. Team strength and values alignment
5. Alignment with Elemental's mission and strategic priorities

Application Track Selection

• Applicants identify single best track (Project Track vs. Strategy Track)
• Elemental may advise track switching based on stage and goals