
Massachusetts Clean Energy Center
Description
The Massachusetts Clean Energy Center (MassCEC) is a state economic development agency dedicated to accelerating the growth of the clean energy sector across the Commonwealth. Established to foster innovation, create jobs, and reduce greenhouse gas emissions, MassCEC plays a pivotal role in positioning Massachusetts as a national leader in clean energy technology and solutions. Its mandate extends beyond direct funding to include workforce development, infrastructure support, and market development initiatives, all aimed at building a robust and sustainable clean energy ecosystem.
MassCEC offers a variety of funding mechanisms tailored to different stages of clean energy businesses and projects. For early-stage startups, the Catalyst program provides non-dilutive grants, typically up to $65,000, to help companies de-risk technologies and achieve critical milestones. For more mature pilot and demonstration projects, the InnovateMass program offers grants that can range significantly, often up to $500,000, to support the deployment of innovative clean energy solutions. Beyond grants, MassCEC also engages in equity co-investments through programs like AmplifyMass, leveraging private capital to scale promising ventures. Since its inception, MassCEC has invested over $300 million in the Massachusetts clean energy industry, supporting a diverse portfolio of companies and initiatives.
Beyond direct financial support, MassCEC is instrumental in developing the clean energy workforce through educational programs and training initiatives, ensuring a skilled talent pipeline for the growing sector. They also invest in critical infrastructure, such as marine testing facilities and advanced manufacturing spaces, which are essential for the commercialization of new technologies. Their comprehensive approach has contributed significantly to the state's economic vitality, helping to create and retain thousands of jobs while advancing Massachusetts' ambitious climate goals. MassCEC's unique position as a public entity allows it to take calculated risks and make strategic investments that might be overlooked by traditional private capital, thereby filling critical funding gaps and fostering long-term growth in the clean energy economy.
Investor Profile
Massachusetts Clean Energy Center has backed more than 264 startups, with 6 new investments in the last 12 months alone. The firm has led 201 rounds, about 76% of its total and boasts 30 exits across its portfolio.
Investment Focus Highlights
- Concentrates on Grant, Seed, Series A rounds (top funding stages).
- Majority of deals are located in United States, The Netherlands, United Kingdom.
- Strong thematic focus on Energy, Renewable Energy, Manufacturing.
- Led 1 rounds in the past year.
- Typical check size: $65K – $500K.
Stage Focus
- Grant (88%)
- Seed (4%)
- Series A (3%)
- Convertible Note (2%)
- Series B (2%)
- Series Unknown (1%)
Country Focus
- United States (97%)
Industry Focus
- Energy
- Renewable Energy
- Manufacturing
- Education
- Clean Energy
- Solar
- Energy Efficiency
- Higher Education
- Cleantech
- Software
Frequently Asked Questions
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