Energy Capital Ventures adds two partners
Energy Capital Ventures (ECV), an early-stage venture capital firm targeting environmental, social and governance (ESG) opportunities, said October 6 it had added Eversource Energy and National Fuel Gas to its stable of limited partners.
Together, the two contributed $61mn to ECV’s debut Fund I, which will target investments that meet ECV’s interest in green molecules™, a term it has coined to define technologies encompassing decarbonisation, sustainability and digitalisation of the natural gas industry.
As they relate to the natural gas value stream, ECV said, those technologies affect the use of hydrogen, renewable natural gas, carbon capture utilisation and sequestration, climate-tech, decarbonisation, ESG modeling and accounting, workforce and customer safety, methane detection and leak prevention, business process optimisation, customer experience and robotics.
“Adding Eversource and National Fuel Gas to our platform categorically demonstrates the strategic importance and market validation of the work we are doing to advance innovation in green molecules™,” said Vic Pascucci, managing general partner of ECV.
Eversource and National Fuel Gas join ECV’s existing limited partners Avista, Black Hills Energy, NiSource, Southwest Gas Holdings and Spire.