EVERGREEN CLIMATE INNOVATIONS
Mission Statement
Clean Energy Trust is a cleantech accelerator that fuels innovation to create a healthier environment and more prosperous future. We launch, fund, and grow early stage clean energy businesses in the Midwest through direct investment, venture development, and advocacy. Clean Energy Trust is a 501C3 public charity. Our unique funding model gives our fund the flexibility to invest in earlier-stage technology than traditional funds. Our philosophy is to be “first money in” and work closely with promising young companies to achieve growth milestones and successful exits. We have developed unique relationships with investors, labs, large corporations, and entrepreneurs to source quality companies for investment. We rely upon a broad pool of scientific and business experts to evaluate their investment potential. To date, CET has awarded over $3M in funding to 29 clean energy startups. Startups benefitting from our programs have gone on to raise an additional $86M in follow on funding – and have created over 300 jobs. We specialize in commercializing research from labs and universities into the market. We invest between $50 – $500k in seed stage rounds to enable startups to develop a prototype or complete a market milestone to attract further investment. The U.S. Department of Energy has consistently ranked Clean Energy Trust as one of the best accelerators in the country. Our staff and Board of Directors are passionate about changing the future of energy and business through innovation, and we hope you join us on this mission.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
78.4% | 82.0% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
7.1% | 12.3% |
P10P90
|
Top quarter |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
14.5% | 3.8% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
59.4 mo | 13.3 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
18.4% | 8.5% |
P10P90
|
Below median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
95.3% | 90.7% |
P10P90
|
Below median |
|
Revenue growth
Year over year revenue growth
|
89.5% | 11.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
2.3% | 12.9% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
13.7% | 4.5% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $3.7M | $3.2M | $15.7M | 78.4% | 11 |
| 2023 | $1.9M | $3.1M | $12.1M | 79.2% | 10 |
| 2022 | $4.4M | $2.8M | $12.2M | 81.2% | 10 |
| 2021 | $4.4M | $2.1M | N/A | — | 10 |
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