Evergrow operates a platform that provides funding for clean energy projects in the United States by financing clean energy tax credits. The platform enables developers, corporations, brokers, syndicators and other market participants to transact in green tax credits, creating funding for new clean energy infrastructure. Led by founder and CEO James Richards, Evergrow partners across the project lifecycle to facilitate transactions and financing. The company plans to use recent funds to expand the platform’s diligence, risk management, and transactional capabilities. Evergrow reported it now has over $150M worth of clean energy projects on its platform expected to come online over the next year. The business is based in San Francisco and is actively scaling its platform to serve the U.S. clean energy market. Evergrow is a stealth climate fintech that combines programmatic underwriting, data and technology to rapidly fund climate developer projects and originate long-term carbon offtake contracts. The company’s two-pronged approach is to standardize underwriting for project types and use historical data to predict which projects can be underwritten at scale. Founders James Richards (CEO, former Wall Street lawyer and early-stage investor) and Luke Whiting (former founding COO of Clearbit) lead the effort. Evergrow says its internal goal is to support the avoidance, reduction or removal of one gigaton of CO2e by 2030 and to scale to a billion tons a year thereafter. The startup plans to start in California, expand across the U.S., and pursue international expansion depending on project type. Financially, Evergrow has raised a seed round of over $7 million and is building relationships with multiple capital partners while exploring financing structures and facilities.

Total raised

$14M

Funding rounds

2

Latest round

Equity

Latest activity

Apr 2023