HomeUSADevEngine Launches With $20M From Spring Lane Capital

DevEngine Launches With $20M From Spring Lane Capital

DevEngine

DevEngine, a NYC-based innovative platform accelerating the development and deployment of transformative climate infrastructure solutions, launched with the closing of $20M in anchor funding from Spring Lane Capital.

Led by Tim Callahan, CEO and Managing Partner, DevEngine aims to connect sustainable infrastructure developers with the early-stage capital and expertise they need to complete the development of their projects.

The firm partners with project developers by providing an effective balance of development capital and hands-on support to de-risk sustainable infrastructure projects in their early stages. DevEngine is initially focused on opportunities in the e-mobility, microgrids, solar storage, waste-to-energy, and energy efficiency sectors within the net-zero carbon theme, and in the longer-term, plans to support developers focused more broadly on industrial decarbonization with newer technologies.

The firm is expected to close its first set of investments in the first half of 2024.

Spring Lane Capital’s commitment enables DevEngine to:

  • Provide development capital and expertise.
  • Develop innovative climate infrastructure platforms.
  • Build capacity within clean energy development teams.
  • Acquire strategic equity stakes.

FinSMEs

08/03/2024