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Clean energy FinTech CapeZero secures $2.6m to transform project financing

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CapeZero, a software platform aimed at simplifying financial workflows for clean energy developers, has secured $2.6m in a seed funding round.

The investment was led by Powerhouse Ventures, with participation from Climactic, Avesta Fund, Virta Ventures, and Stepchange.

The funding will enable CapeZero to accelerate the development and expansion of its platform, which aims to streamline and standardise the complex processes involved in securing tax equity and project financing.

CapeZero provides clean energy developers with an innovative solution that reduces the time spent on financial modelling from months to minutes. The platform offers real-time scenario analysis and standardised analytics, allowing project finance teams to operate 50-75% faster.

With the new investment, the company plans to enhance its core platform features and expand its market presence.

CapeZero was founded in 2023 by a team of experts with extensive experience in renewable energy finance and technology. CEO Manish Hebbar brings 15 years of experience in renewable energy and tax credit finance, having closed over 60 clean energy deals amounting to 11 gigawatts of capacity. CTO Sumit Chachra adds significant product and technology leadership experience, having previously served as a global CTO and successful entrepreneur. The team has collectively structured and advised on over $16bn in renewable energy capital deployment.

Speaking about the funding, CapeZero CEO and co-founder Manish Hebbar said, “The renewable energy industry is at a pivotal moment with unprecedented growth opportunities and challenges, and the complexity of tax equity and project financing remains a significant barrier to scaling clean energy deployment. Customers on our platform turn that complexity into a competitive advantage when seeking project finance investment.

“With this funding, we’re building the technology infrastructure they need to streamline these critical financial processes. Our platform enables companies to spend less time troubleshooting spreadsheets and more time focusing on the projects that drive us closer to achieving net-zero emissions.”

Powerhouse Ventures managing partner Emily Kirsch highlighted the importance of CapeZero’s solution, stating, “As we enter the Terawatt Era of renewable energy deployment, the industry urgently needs solutions that can scale with its growth.

“CapeZero’s platform represents a critical step forward in democratizing access to tax equity financing, making it more efficient and accessible for companies of all sizes. With investments in renewable generation and storage expected to grow from $60B to $150B annually by 2030, CapeZero’s solution has the potential to significantly accelerate the deployment of renewable energy projects across the United States and beyond.”

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