The 2030 Fund, established by the Massachusetts Clean Energy Center (MassCEC), is a $50 million initiative designed to support the growth of Massachusetts-based climate technology companies. This fund aims to address the funding gaps that early-stage climate technology startups face by providing equity investments and venture debt. By investing countercyclically and impactfully, MassCEC seeks to assist companies in de-risking their technology, reaching early commercial milestones, and attracting additional private capital. Investments primarily align with MassCEC’s focus areas, which include clean transportation, high-performance buildings, offshore wind, and net-zero grid technologies. However, MassCEC is also open to supporting innovations outside these categories if they demonstrate significant impact potential.

The 2030 Fund offers equity investments averaging $500,000 in early-stage financings. Additionally, venture debt options range from $100,000 to $1.5 million. These investments are designed to leverage private capital alongside MassCEC’s funding, ensuring that recipients receive financial support to bridge the gap toward commercialization. Companies benefiting from this fund gain the opportunity to position themselves for further growth and long-term success in the clean energy sector.

The application process for the 2030 Fund operates on a rolling basis, with a typical timeline of three to five months from pitch to investment closure. Applicants begin by submitting a pitch deck, after which selected companies proceed through a multi-step review process that includes an initial team pitch, iterative due diligence, executive-level pitching, deal negotiation, and final legal approvals. This structured approach ensures that investments align with MassCEC’s objectives and that companies are well-positioned for success.

Eligible applicants must be Massachusetts-based startups whose products or services fall under the definitions of “clean energy” or “clean energy research” as outlined in MassCEC’s enabling legislation. Additionally, companies must maintain a significant presence in Massachusetts by fulfilling at least three of four key operational criteria: headquarters location, primary research and development, primary sales and marketing, or primary manufacturing. If only three of these functions are present in the business, at least two must be continuously maintained within the state.

Additional funding opportunities are available for companies that may not qualify for the 2030 Fund. These include the Clean Energy Internship Program, InnovateMass, and AmplifyMass, which provide various levels of grant funding. The InnovateMass program offers up to $350,000 in funding, with an application deadline of March 17, 2025, while AmplifyMass operates on a rolling basis with awards up to $300,000.

For further inquiries, potential applicants can contact MassCEC via phone at 617-315-9300. The organization’s headquarters are located at 294 Washington St., 11th Floor, Boston, Massachusetts 02108.