The Illinois Clean Energy Fund will award convertible notes initially ranging from $100,000 to $500,000 to early-stage Illinois-based companies working in renewable energy, energy efficiency, smart grid, next-generation transportation and water resource management.
The Illinois Clean Energy Fund (“the Fund”) is a revolving equity fund that was formed by the State of Illinois with $2.3 million from an allocation of federal funds approved for investing in clean energy businesses.
The funds will be matched by $2.3 million in private investment. The purpose of the Fund is to help fill the gap in seed funding for energy innovation in the State, thereby fueling commercialization and helping small businesses expand and create jobs.
We're looking for early stage clean energy companies based in Illinois with the following criteria:
Minimum of $500,000 raised in seed, angel or institutional capital
Advanced enough to have a market-ready product or service.
Generating revenues with demonstrated market validation
Credible CEO and established governance structure
Sound like you? Fill out the form on this page and we'll be in touch.