Evergreen Climate Innovations
Evergreen Climate Innovations is a Chicago-based 501(c)(3) nonprofit that provides seed-stage capital and hands-on support to early-stage climate tech startups in the Greater Midwest, deploying capital through its 501vc Investment Fund and Illinois Clean Energy Innovation Fund.
- Company typePrivate
- Founded2012
- HeadquartersChicago, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Evergreen Climate Innovations does
Evergreen Climate Innovations is a 501(c)(3) nonprofit investment and acceleration organization headquartered in Chicago, Illinois. Originally founded in 2012 as Clean Energy Trust and later rebranded, the organization provides catalytic seed-stage capital and hands-on support to early-stage climate technology startups in the Greater Midwest region of the United States.
The organization's core products include the 501vc® Investment Fund, which aligns philanthropic and corporate contributions for climate impact investing, and the Illinois Clean Energy Innovation Fund, a state-level vehicle funded by the U.S. Department of Energy State Energy Program and overseen by the Illinois Environmental Protection Agency. Complementary programs include the Evergreen University Accelerator (partnering with Carnegie Mellon, Northwestern, Case Western Reserve, and West Virginia University), the Heartland Climate Tech Partnership Resource Database (in collaboration with mHUB, Centrepolis Accelerator, and Spark Innovation Center), and the Co_Invest Climate annual convening. Notable portfolio companies span energy storage (Cache Energy), EV/grid magnetics (CorePower Magnetics), and sustainable packaging (Kadeya), with portfolio-wide metrics of $561M in follow-on funding catalyzed, 947 jobs created, and 5 successful exits.
Evergreen's business model is philanthropic rather than commercial: revenue is generated through grants, corporate contributions, and donor funds rather than management fees or pricing on portfolio services. The organization monetizes its impact via follow-on capital catalyzed per dollar invested ($54 per $1 as of 2026) and exit proceeds, distributed across 49 portfolio companies. Distribution occurs through direct rolling applications on evergreeninno.org, partnership networks, and ecosystem events. The organization is currently undergoing a planned leadership transition in 2026, with Michelle Carr succeeding Erik Birkerts as CEO after 11 years.
Evergreen Climate Innovations firmographics
Firmographics- Name
- Evergreen Climate Innovations
- Legal name
- Evergreen Climate Innovations
- Website
- https://evergreeninno.org
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Evergreen Climate Innovations is a Chicago-based 501(c)(3) nonprofit that provides seed-stage capital and hands-on support to early-stage climate tech startups in the Greater Midwest, deploying capital through its 501vc Investment Fund and Illinois Clean Energy Innovation Fund.
- Ownership category
- akta.pro rank
Evergreen Climate Innovations industry classification
Industry- Product category
- Climate Tech Venture Capital
- NAICS
- Environment, Conservation and Wildlife Organizations (813312)
- SIC
- Forestry (800)
- akta.pro primary industry
- Climate Change Mitigation & Adaptation (BPAGAGAF)
- akta.pro secondary industries
- Evergreen / Open-Ended Multi-Manager Platforms (FSANAGAM), Climate Adaptation & Resilience Programs (BPADALAD), Forestry & Reforestation (BPAGAGAD), Environmental & Climate Grantmaking Foundations (BPAGAKAM)
Keywords
Where Evergreen Climate Innovations is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Evergreen Climate Innovations business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Investment Returns: Evergreen makes seed investments in climate tech startups and provides hands-on support. Returns come through follow-on funding catalyzed and successful exits.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Evergreen Climate Innovations product offering
Product offeringCore offering
Evergreen Climate Innovations is a 501(c)(3) nonprofit climate tech accelerator and investor that provides catalytic seed capital and commercialization support to early-stage startups developing clean energy and climate solutions. Through its 501vc® Investment Fund, the Illinois Clean Energy Innovation Fund, and the Evergreen University Accelerator, the organization invests in and supports a portfolio of climate tech ventures primarily across the Greater Midwest while convening philanthropic, corporate, and government partners to scale regional climate innovation.
Product overview
Evergreen Climate Innovations is a nonprofit investment organization (formerly Clean Energy Trust) that operates as a climate tech accelerator and investment fund rather than a traditional product company. Its primary offerings include the 501vc® Investment Fund for seed-stage climate tech investments, the Illinois Clean Energy Innovation Fund, the Evergreen University Accelerator program, the Heartland Climate Tech Partnership Resource Database for ecosystem resources, and the Co_Invest Climate annual event. The organization provides catalytic capital and hands-on support to entrepreneurs bringing impactful climate technologies to market in the Greater Midwest region.
Differentiator
Problem solved
Functional benefit
Brands
- 501vc® Investment Fund: A nonprofit investment fund that aligns philanthropic and corporate contributions to deliver environmental, economic, and social impact in climate technology.
Products and services
- 501vc® Investment Fund A nonprofit investment fund that aggregates philanthropic, corporate, and government capital to make catalytic seed investments in early-stage climate tech startups, primarily in the Greater Midwest. The fund is reported to catalyze $54 in follow-on funding per $1 invested, and supports a portfolio of climate ventures across clean energy, mobility, buildings, agriculture, and other decarbonization themes.
- Illinois Clean Energy Innovation Fund A state-focused clean energy investment fund managed by Evergreen Climate Innovations that deploys catalytic capital into Illinois-based climate and clean energy startups. The fund is designed to support local founders while advancing the state's clean energy innovation and economic development goals.
- Evergreen University Accelerator An accelerator program supporting university-based climate tech startups by providing mentorship, resources, and commercialization support to help academic climate innovations transition from the lab to the market. The program connects university researchers with Evergreen's broader investor and corporate partner network.
Quantifiable outcome
- $561M follow-on funding catalyzed for portfolio companies
- +4 more outcomes
Companies that use Evergreen Climate Innovations
Customer profileNamed customers3 records
Segments2 records
Ideal customer profiles2 records
Evergreen Climate Innovations technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Evergreen Climate Innovations partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- mHUBcoremHUB, a Chicago-based hard tech innovation center, partnered with Evergreen Climate Innovations as a corporate partner for the Energy Tech Accelerator focused on the compute-energy nexus. Evergreen serves as a backing partner providing investment and support for selected startups.
- Norton Rose FulbrightminorNorton Rose Fulbright serves as legal partner for the mHUB Energy Tech Accelerator program.
- Centrepolis AcceleratorcorePart of the Heartland Climate Tech Partnership, Centrepolis Accelerator at Lawrence Technological University collaborates with Evergreen to advance commercialization of climate tech and clean energy businesses across the Greater Midwest.
- Spark Innovation CentercoreSpark Innovation Center at University of Tennessee Research Park is a partner in the Heartland Climate Tech Partnership, focusing on energy technology companies with access to lab space, mentoring, and support services.
- Chain Reaction InnovationsminorProject affiliate based at Argonne National Laboratory supporting startups through the Heartland Climate Tech Partnership.
- Innovation CrossroadsminorProgram at Oak Ridge National Laboratory serving as project affiliate of the Heartland Climate Tech Partnership.
- National Renewable Energy LaboratoryminorNREL serves as a project affiliate of the Heartland Climate Tech Partnership.
Scale indicators7 records
Recent moves7 records
Expansion highlights6 records
Evergreen Climate Innovations competitors and assessment
Company assessmentDirect peers
- Clean Energy Ventures: Climate tech seed-stage investor focused on the Midwest and Northeast with a fund-of-funds-style model and hands-on portfolio support; most directly comparable to Evergreen by stage, geography, and thesis.
- Prime Coalition: Nonprofit impact investor providing catalytic capital to early-stage climate tech startups; comparable 501(c)(3) fund-of-funds model with philanthropic capital pool, similar to Evergreen's 501vc structure.
- Activate (formerly Cyclotron Road): Fellowship and support program for early-stage science- and engineering-driven entrepreneurs tackling climate and decarbonization; comparable in providing deep-tech founders with capital, mentorship, and community.
- Elemental Excelerator: Nonprofit climate tech investor and accelerator deploying catalytic capital and providing ecosystem support to startups; closely aligned mission, structure, and stage focus as Evergreen.
- Impact America Fund: Midwest-anchored impact venture fund investing in underrepresented founders; comparable regional focus and inclusive-founders thesis (Evergreen's 57% female/minority founder stat).
- Chain Reaction Innovations (Argonne): DOE-funded startup fellowship at Argonne National Laboratory supporting energy and cleantech entrepreneurs; already a Heartland Climate Tech Partnership affiliate of Evergreen, offering comparable accelerator + capital model.
Broad incumbents
- Breakthrough Energy Ventures: Bill Gates-backed, well-capitalized climate tech venture fund investing in early-stage companies across the full decarbonization spectrum; overlaps Evergreen's thesis but operates at a much larger fund size and national/global scale.
- Bezos Earth Fund: Major philanthropic grantmaker funding climate and nature solutions with multibillion-dollar commitments; broader and grant-driven rather than investing, but shares Evergreen's nonprofit, climate-focused funding role.
Regional players
- Clean Energy States Alliance (CESA): Coalition of state clean energy funds and programs coordinating public funding across U.S. states; comparable in channeling government/donor capital into clean energy innovation, though CESA is multi-state rather than Midwest-focused.
- NYSERDA: New York State public-benefit corporation funding clean energy innovation and startups; comparable role to Evergreen as a state-anchored climate innovation funder, but at much larger scale and state-funded.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Evergreen Climate Innovations social profiles
Digital presenceEvergreen Climate Innovations financial estimates
Financial estimateRevenue estimate
Valuation estimate
Evergreen Climate Innovations leadership team
Management profileNumber of profiles
Profiles10 records
Evergreen Climate Innovations funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Evergreen Climate Innovations M&A and investment
M&A and investmentM&A
Investments57 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Evergreen Climate Innovations
What does Evergreen Climate Innovations do?
Evergreen Climate Innovations is a 501(c)(3) nonprofit climate tech accelerator and investor that provides catalytic seed capital and commercialization support to early-stage startups developing clean energy and climate solutions. Through its 501vc® Investment Fund, the Illinois Clean Energy Innovation Fund, and the Evergreen University Accelerator, the organization invests in and supports a portfolio of climate tech ventures primarily across the Greater Midwest while convening philanthropic, corporate, and government partners to scale regional climate innovation.
Is Evergreen Climate Innovations a public or private company?
Evergreen Climate Innovations is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Evergreen Climate Innovations founded?
Evergreen Climate Innovations was founded in 2012. It employs 1 to 10 people.
Where is Evergreen Climate Innovations based?
Evergreen Climate Innovations is headquartered in Chicago, United States, in the North America region.
How does Evergreen Climate Innovations make money?
One revenue line is on record: investment Returns.
Who are Evergreen Climate Innovations's main competitors?
Direct peers on record are Clean Energy Ventures, Prime Coalition, Activate (formerly Cyclotron Road), Elemental Excelerator, Impact America Fund and Chain Reaction Innovations (Argonne). Broad incumbents are Breakthrough Energy Ventures and Bezos Earth Fund. Regional players are Clean Energy States Alliance (CESA) and NYSERDA.
Does Evergreen Climate Innovations have an API?
No public API is recorded for Evergreen Climate Innovations.
What industry is Evergreen Climate Innovations in?
Evergreen Climate Innovations's product category is Climate Tech Venture Capital. Its primary akta.pro industry code is BPAGAGAF, Climate Change Mitigation & Adaptation, with a secondary code of FSANAGAM, Evergreen / Open-Ended Multi-Manager Platforms. Its NAICS code is 813312 and its SIC code is 800.