Energize's 2024 in Review

2024 was a year of growth, resilience, and strategic action across Energize. Even as the political and economic landscape served uncertainty, we remained focused on what we do best – identifying and providing support to builders and operators of climate solutions.

Our optimism is fueled by the momentum of an immense global energy transformation. In the face of data center growth and record-setting temperatures, global electricity consumption increased by 4.3% in 2024 – one of the largest single-year growth rates of the past century – and renewables raced to keep up with demand. The U.S. grid added a whopping 50 GW of new solar generation last year alone, which led to a massive milestone: for the first time in history, wind and solar energy accounted for more U.S. generation than coal.

The result is a growing opportunity for digital infrastructure to drive scale and sustainability across the energy economy, and we’re committed to being an informed, active, and enduring partner to companies in that space. Through our research-driven investment process, we identified and deployed capital into what we believe to be some of the most exciting companies building in climate today. We look forward to continuing to build and grow our portfolio of climate solutions in the year to come.

2024 Highlights:

• We announced four new investments across the climate ecosystem, ranging from grid information services to renewables operations & management to battery optimization and circular economy. Read about our investments here: Grid Status | Elum | Archive | Tyba
• Five additional Energize portfolio companies, including Monta and Urbint, returned to market to raise strategic capital from a position of strength.
• The Energize portfolio continued to exemplify the relevance and resilience of climate solutions in the broader energy transition. Our companies surpassed $510 million in aggregate ARR and collectively employed over 3,000 employees.
• Our portfolio companies continued to make progress toward industry-leading environmental goals, enabling over 4.5 million metric tons of avoided emissions.*
• We remained a leading convener of investors, startups and corporations in the climate sector, bringing together nearly 800 people together across a variety of events, including our flagship event Energize NEXT: The Climate Software Summit.
• Our team developed cutting-edge thought leadership, including Deep Dive research reports spanning electrification, battery software, data centers, digital infrastructure, home electrification, and more. In July, we announced our list of Electrify Everything Top 30 Software Innovators, which will return this summer for its fourth year.
• As our portfolio expanded, so did our portfolio services arm, Energize EDGE. The EDGE team grew to represent 25% of our firm headcount and doubled its impact, initiating or completing nearly 150 value creation projects across our portfolio last year. This work included helping to place at least 20 portfolio executives, as well as providing strategic finance & operations, go-to-market, impact & ESG, and communications support.

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^{*Final calculations pending. Complete metrics to come in our 2024 Impact Report, scheduled for publication in Spring 2025.}