Sustainable Investors Fund 2026

The Challenge

Reducing greenhouse gas emissions and embracing the circular economy is increasingly urgent as climate risks intensify. While progress has been made (driven by a shift away from coal, advances in energy efficiency, and cleaner transportation), these gains remain insufficient. Achieving net-zero emissions will require investment, commercial discipline, and continued technological innovation. A significant gap persists between available capital and the scale of solutions needed to accelerate the transition.

SER Capital's Strategy

SER Capital Partners is a private equity firm focused on scaling sustainable solutions across North America’s middle market. The firm targets investments in decarbonization and resource efficiency, including battery storage, environmental remediation, energy efficiency, EV charging infrastructure, recycling, distributed energy resources, and cleaner supply chains. By acquiring controlling stakes, SER actively builds and grows businesses that deliver measurable environmental impact while addressing a critical funding gap in the green economy.

Long-term Intended Outcome

All renewable energy and transition projects have sufficient access to capital, enabling the U.S. to accelerate the transition to net zero emissions.

Tracking Progress

During the last reporting year, SER avoided 4.3 million metric tons of CO2e, equivalent to the annual emissions from over 1 million gas powered vehicles. SER manages approximately $685 million in assets across its two funds, with control positions in seven active portfolio companies.Collectively, SER and its portfolio companies employ 846 people.

SER’s newest investments are Paladin EnviroTech (April 2025), a tech enabled e-waste recycling and IT asset disposition platform that has completed four acquisitions across the U.S. and Europe in its first year, and Ampersand Power Systems (August 2025), which extends the useful life of EV batteries through grid scale reuse. These two investments extend the platform into two sectors highlighted as priorities in last year’s report: e-waste recycling and the reuse of electric vehicle batteries for stationary storage.

Looking ahead, SER is focused on value creation across its portfolio, scaling both impact and returns, while actively evaluating new investments in decarbonization and waste reduction.

Short-term KPI

Operating battery storage for the reporting year (MW): 300
Battery storage under development (MW): 900
Distributed solar installed for the reporting year (MW): 7,975
Grid-scale solar under development (MW): 300
Tons of e-waste purchased and recycled: 80
Tons of e-waste refurbished / resold: 1,602
Geothermal HVAC BTUs installed for the reporting year (MMBtu): 15.9
Emissions avoided for the reporting year (mtCO2e): 4.34 million
Wastewater treated for the reporting year (gallons): 466 million

Selections from current portfolio

Company: Brightcore Energy
Update: Geothermal HVAC continued to be Brightcore’s fastest-growing segment in 2025, supported by strong customer demand. Brightcore has completed or made substantial progress on multiple geothermal projects, including at Yale University and Mount Holyoke College. Brightcore continued to serve as the New York Power Authority’s direct install partner for LED lighting and controls in New York, completing projects at various local hospitals and schools throughout the year. Solar also remained a strong contributor, with ongoing projects across the Northeast.

Company: Paladin EnviroTech
Update: In 2025, SER formed Paladin EnviroTech, an e-waste recycling platform. The growing digitization of society has led to a significant increase in electronic waste (e-waste), posing an environmental challenge due to hazardous materials entering landfills. SER’s entry into this sector aims to accelerate responsible recycling practices, recover precious metals, and ensure data security through IT Asset Disposition (ITAD) services. Paladin has completed four acquisitions within its first year, establishing operations in Florida and Minnesota and expanding into Europe through facilities in the Netherlands and Ireland. The company also announced a joint venture focused on recovering rare earth elements, supporting the development of a domestic circular economy for critical materials.

Company	Update
Brightcore Energy	Geothermal HVAC continued to be Brightcore’s fastest-growing segment in 2025, supported by strong customer demand. Brightcore has completed or made substantial progress on multiple geothermal projects, including at Yale University and Mount Holyoke College. Brightcore continued to serve as the New York Power Authority’s direct install partner for LED lighting and controls in New York, completing projects at various local hospitals and schools throughout the year. Solar also remained a strong contributor, with ongoing projects across the Northeast.
Paladin EnviroTech	In 2025, SER formed Paladin EnviroTech, an e-waste recycling platform. The growing digitization of society has led to a significant increase in electronic waste (e-waste), posing an environmental challenge due to hazardous materials entering landfills. SER’s entry into this sector aims to accelerate responsible recycling practices, recover precious metals, and ensure data security through IT Asset Disposition (ITAD) services. Paladin has completed four acquisitions within its first year, establishing operations in Florida and Minnesota and expanding into Europe through facilities in the Netherlands and Ireland. The company also announced a joint venture focused on recovering rare earth elements, supporting the development of a domestic circular economy for critical materials.

Company

Update

Brightcore Energy

Geothermal HVAC continued to be Brightcore’s fastest-growing segment in 2025, supported by strong customer demand. Brightcore has completed or made substantial progress on multiple geothermal projects, including at Yale University and Mount Holyoke College. Brightcore continued to serve as the New York Power Authority’s direct install partner for LED lighting and controls in New York, completing projects at various local hospitals and schools throughout the year. Solar also remained a strong contributor, with ongoing projects across the Northeast.

Paladin EnviroTech

In 2025, SER formed Paladin EnviroTech, an e-waste recycling platform. The growing digitization of society has led to a significant increase in electronic waste (e-waste), posing an environmental challenge due to hazardous materials entering landfills. SER’s entry into this sector aims to accelerate responsible recycling practices, recover precious metals, and ensure data security through IT Asset Disposition (ITAD) services. Paladin has completed four acquisitions within its first year, establishing operations in Florida and Minnesota and expanding into Europe through facilities in the Netherlands and Ireland. The company also announced a joint venture focused on recovering rare earth elements, supporting the development of a domestic circular economy for critical materials.