ISIF invests €68m in two decarbonisation funds 

Ireland Strategic Investment Fund initiative could ultimately attract more global capital to Ireland

New York-based investment fund Energy Impact Partners will set up an office in Dublin to invest in emerging Ireland-based decarbonisation and energy technology. Stock picture

The Ireland Strategic Investment Fund (ISIF) is to invest €68m in two international decarbonisation funds, as part of its €1bn five-year climate action programme.

The funds are managed by New York-based investment fund Energy Impact Partners (EIP), which has more than $3bn (€2.77bn) in assets under management. 

Through ISIF’s investment, EIP will establish an office in Dublin with plans to invest in emerging Ireland-based decarbonisation and energy technology companies. Climate investor and entrepreneur Arthur Pierse will be EIP's representative based on the ground in Ireland.

The Ireland Strategic Investment Fund is investing across two of EIP’s funds, the European Fund at €34m which primarily focuses on €10m-€25m growth equity and late-stage investments and the Deep Decarbonisation Frontier Fund at $35m (€34m) which focuses on investing in revolutionary early-stage companies that have the potential to fully decarbonise the global economy. The move builds on approximately €500m of committed investments by ISIF in climate action as the body continues its €1bn investment programme in this sector.

Target segments will include energy supply decarbonisation such as hydrogen, the electrification of industrial processes, and tech-enabled infrastructure.

"The combination of early-stage technology with support for growth stage businesses offered by the two funds in which we are investing is a unique proposition that will be of real benefit to new climate businesses in Ireland," said ISIF head of climate Paul Saunders.

"This [investment] shows how we can leverage our investment capability to build a deeper, stronger network with climate investors from all over the world — and ultimately attract more international capital to Ireland while supporting emerging Irish businesses in this space. 

EIP founder and managing partner Hans Kobler said: "Our model of bringing together brilliant entrepreneurs with key industrials across all sectors of the economy, will make it easier for Irish technologies to scale in both Europe and North America."