Xcel Energy Co-Chairs, Invests in Fund Designed to Support Diversity, Equity and Inclusion

Energy Impact Partners’ new “Elevate” fund supports clean energy companies owned by diverse and underrepresented groups in the industry

MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy announced today that it is co-chairing and investing in Energy Impact Partners’ Elevate Future Fund (“Elevate”) as a founding, limited partner. Energy Impact Partners is a global investment platform that supports the development of new, clean energy technologies, and Xcel Energy is a long-time investor in the company. The new Elevate fund aims to create a more diverse founder community and an inclusive venture capital ecosystem within the clean energy transition.

“Xcel Energy is deeply committed to building an energy future that reflects the rich diversity of the communities that we serve. We are pleased and proud to have the opportunity to both invest in and co-chair the Elevate Fund,” said Ben Fowke, CEO and chairman of Xcel Energy. “The goals of this fund align with our own and we are excited to support both the development of clean energy technologies and the diverse founders of the companies doing this critical work.”

The Elevate fund has already invested in three diverse companies, including Los Angeles-based ChargerHelp!, a Black women-owned started up that developed a mobile application and web-based platform for rapid, on-demand repair of electric vehicle charging stations. Elevate will help ChargerHelp! Expand its service and improve its technology. The fund has also invested in Project Canary, an international environmental standards company based in Denver, and in a company called HopSkipDrive, which offers innovative, safe and dependable youth transportation for schools, districts, government agencies and families.

“I look forward to working with Xcel Energy in creating a more equitable, diverse and inclusive energy transition through the Elevate Future Fund,” said Anthony Oni, managing partner of the Fund at Energy Impact Partners. “With the creation of the Elevate Future Fund, we are addressing the need for the venture capital community to come together to provide better opportunities for underserved communities in our industry. Xcel Energy’s commitment will help us address this need.”

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.

About Energy Impact Partners

Energy Impact Partners, LP (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit www.energyimpactpartners.com.