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Expand chart
Data: Energy Impact Partners; Chart: Axios Visuals

The VC firm Energy Impact Partners has created an index that tracks performance of companies spanning a wide range of climate-friendly technologies — and it shows they're crushing the broader market.

Why it matters: The firm's new "Climate Tech Index" differs from technology indices that are more narrowly targeted, such as only tracking clean energy companies.

What they're saying: "As far as we could tell, [there was] nothing that was inclusive of the broader climate tech ecosystem, which includes other sectors such as electric vehicles, plastics recycling and plant-based meat," said Shayle Kann, a partner with EIP.

  • "We built our index to be able to monitor how the whole crop (so to speak) of climate tech companies performs as the market evolves," he told me in an email exchange.
  • The companies in the index are not in EIP's portfolio, Kann added.

Where it stands: Despite a recent drop in share prices, the index is significantly outperforming the Nasdaq, as you can see in the chart above.

How it works: The index currently has over 30 companies, with more to be added, but is not an investment vehicle. Instead it's a tool for tracking the aggregate performance of a suite of new market entrants and more established players.

  • On the mobility side, various companies range from incumbent electric cars leader Tesla to recent arrivals like Canoo, which is among the many EV startups that recently went public via merging with a special purpose acquisition company.
  • Others include renewables companies like First Solar and wind turbine heavyweight Vestas, the plant protein company Beyond Meat, the hydrogen fuel cell company Plug Power, and the advanced battery firm Quantumscape.

The intrigue: TechCrunch's coverage by Jonathan Shieber makes an interesting point...

"While the EIP list is intended to be informative, there’s no reason someone couldn’t take this index and turn it into an exchange traded fund for the industry."

Go deeper

Job gains slow sharply as U.S. adds 210k jobs in November

Photo: Joe Raedle/Getty Images

The U.S. economy added 210,000 jobs in November, while the unemployment rate plummeted to 4.2% from 4.6%.

Why it matters: Job gains slowed sharply, but the labor market recovery remains on track.

Elon Musk's mega-billion bounty

Photo: Patrick Pleul/picture alliance via Getty Images

Here's how insanely rich Elon Musk is: He has unloaded $10 billion of his stock in the past month — and could do that 15+ more times given his silos of shares.

Ina Fried, author of Login
3 hours ago - Technology
Column / Signal Boost

Huawei sanctions snarled chip supply chains

Illustration: Sarah Grillo/Axios

The largely successful U.S. effort to hobble China's Huawei has benefitted a host of other tech companies — from smartphone makers such as Apple and Xiaomi to chipmakers like Qualcomm to network vendors including Nokia and Ericsson.

Yes, but: The massive disruption to the industry furthered an industry wide mismatch between supply and demand, exacerbating the global chip shortage.