Exhibit 10.9


 


INVESTMENT AGREEMENT


 


THIS INVESTMENT AGREEMENT
(this “Agreement”), dated as of June 29, 2021, is by and among (i) TortoiseEcofin Acquisition Corp. III, a Cayman
Islands exempted company (the “SPAC”), (ii) TortoiseEcofin Sponsor III LLC, a Cayman Islands limited liability company
(the “Sponsor”), and (iii) [●] (“Investor”).


 


WHEREAS, in connection with
the initial public offering (the “IPO”) of units of the SPAC, Investor has expressed an interest in acquiring up to
2,970,000 units in the IPO (the “IPO Indication”), at a price of $10.00 per unit.


 


WHEREAS, the parties wish
to enter into this Agreement pursuant to which Investor will purchase from the Sponsor Class B ordinary shares, par value $0.0001 per
share, of the SPAC (the “Founder Shares”) for the same value paid by the Sponsor, or approximately $0.003 per share.


 


NOW THEREFORE, the parties
hereto hereby agree as follows:


 


Section 1.
Sale and Purchase.


 


		(a)	In connection with the IPO Indication, and subject to the satisfaction
of the conditions set forth in Section 1(b), the Sponsor hereby agrees to sell to Investor 150,000 Founder Shares (such shares,
the “Transferred Shares”) for an aggregate purchase price of $450 (the “Transfer Price”) on the
date of the closing of the IPO, and Investor hereby agrees to purchase the Transferred Shares (the “Transfer”). Concurrently
with the Transfer, in consideration for the transfer of the Transferred Shares, Investor shall pay $450 to the Sponsor in immediately
available funds.



 


		(b)	Subject to (i) the fulfillment by Investor of the IPO Indication
(which shall include the acquisition of 100% of the units of the SPAC allocated to Investor by the underwriters in the IPO) and (ii)
Investor’s payment of the Transfer Price as contemplated by Section 1(a) of this Agreement, the Transfer shall occur and
be effective upon the closing of the IPO, automatically and without any action of any other party hereto.



 


Section 2.
Representations and Warranties of the SPAC. The SPAC hereby represents and warrants to Investor, as follows:


 


		(a)	The SPAC has full power and authority to execute and deliver this
Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby.



 


		(b)	This Agreement has been duly and validly executed and delivered
by the SPAC and constitutes a legal, valid and binding obligation of the SPAC enforceable against the SPAC in accordance with its terms.



 


		(c)	The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result
in any material violation of or default under, any agreement or other instrument to which the SPAC is a party or by which the SPAC is
bound, or any decree, order, statute, rule or regulation applicable to the SPAC.



 






    


     


    

 


Section 3.
Representations and Warranties of the Sponsor. The Sponsor hereby represents and warrants to Investor, as follows:


 


		(a)	The Sponsor has full power and authority to execute and deliver
this Agreement, to perform its obligations hereunder and to consummate the transactions contemplated hereby.



 


		(b)	This Agreement has been duly and validly executed and delivered
by the Sponsor and constitutes a legal, valid and binding obligation of the Sponsor enforceable against the Sponsor in accordance with
its terms.



 


		(c)	The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result
in any material violation of or default under, any agreement or other instrument to which the Sponsor is a party or by which the Sponsor
is bound, or any decree, order, statute, rule or regulation applicable to the Sponsor.



 


Section 4.
Representations and Warranties of Investor. Investor hereby represents and warrants to the SPAC and the Sponsor, as follows:


 


		(a)	Investor has full power and authority to execute and deliver this
Agreement and to perform its obligations hereunder.



 


		(b)	This Agreement has been duly and validly executed and delivered
by Investor and constitutes a legal, valid and binding obligation of Investor enforceable against Investor in accordance with its terms.



 


		(c)	The execution and delivery of this Agreement, the consummation
of the transactions contemplated hereby and the performance of its obligations hereunder will not materially conflict with, or result
in any material violation of or default under, any agreement or other instrument to which Investor is a party or by which Investor is
bound, or any decree, order, statute, rule or regulation applicable to Investor.



 


		(d)	Investor is an “accredited investor” as that term
is defined in Regulation D promulgated under the Securities Act of 1933, as amended.



 


Section 5.
Additional Agreements and Acknowledgements of Investor.


 


		(a)	Investor agrees not to transfer, assign or sell any Transferred
Shares or the Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”), issuable upon
conversion of the Transferred Shares held by it until the earlier of (i) one year after the date the SPAC consummates a Business Combination
(as defined below) and (ii) the earlier to occur of, subsequent to a Business Combination, (A) the first date on which the last reported
sale price of the Class A Ordinary Shares equals or exceeds $12.00 per share (as adjusted for share sub-divisions, share dividends, reorganizations,
recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 120 days after the consummation
a Business Combination and (B) the date on which the SPAC consummates a subsequent liquidation, merger, share exchange or other similar
transaction which results in all of the SPAC’s shareholders having the right to exchange their Class A Ordinary Shares for cash,
securities or other property.



 


		(b)	Investor acknowledges that the SPAC was formed for the purpose
of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination
with one or more businesses or entities (a “Business Combination”). Investor agrees that if the SPAC seeks shareholder
approval of a proposed Business Combination, then in connection with such proposed Business Combination, Investor shall vote all Founder
Shares in favor of such proposed Business Combination.



 






    2


     


    

 


		(c)	Investor acknowledges that it is aware the SPAC will establish
a trust account (the “Trust Account”) for the benefit of its public shareholders upon the closing of the IPO. Investor
agrees that it has no right, title, interest or claim of any kind in or to any monies held in the Trust Account, or any other asset of
the SPAC as a result of any liquidation of the SPAC with respect to the Transferred Shares.



 


		(d)	In connection with the IPO, the SPAC shall enter into a registration
rights agreement (the “Registration Rights Agreement”) with the Sponsor, Investor and certain other parties thereto.
The Registration Rights Agreement shall provide Investor with registration rights with respect to the Transferred Shares that are no
less favorable to Investor than the registration rights of the Sponsor set forth therein.



 


Section 6.
Miscellaneous.


 


		(a)	This Agreement shall be governed by the internal laws (and not
the law of conflicts) of the State of New York.



 


		(b)	This Agreement may not be amended, modified or waived without
the written consent of the parties hereto.



 


		(c)	The rights and obligations under this Agreement may not be assigned
by any party hereto without the prior written consent of the other parties.



 


		(d)	From time to time, at the reasonable request of any of the other
parties hereto, each party hereto shall execute and deliver such additional documents and instruments and take such further lawful action
as may be necessary to consummate and make effective, in the most expeditious manner practicable, the transactions contemplated by this
Agreement.



 


		(e)	Any term or provision of this Agreement which is invalid or unenforceable
shall be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining rights
of the person intended to be benefited by such provision or any other provisions of this Agreement.



 


		(f)	This Agreement may be executed in two or more counterparts, each
of which shall constitute an original, and all of which taken together shall constitute one and the same instrument. Any signature page
delivered by a facsimile machine or electronic mail shall be binding to the same extent as an original signature page.



 


* * * * *


 






    3


     


    

 


IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the date first written above.


 


	 	INVESTOR:
	 	 
	 	[●]	 
	 	 	 
	 	By:	 
	 	Name:	[●]
	 	Title:	[●]






 


	 	SPAC:
	 	 
		TORTOISEECOFIN ACQUISITION CORP. III
	 	 	 
	 	By:	 
	 	Name:	Vincent T. Cubbage
	 	Title:	Chief Executive Officer



 


	 	SPONSOR:
	 	TORTOISEECOFIN SPONSOR III LLC
	 	By: TORTOISEECOFIN BORROWER LLC, its managing member
	 	 	 
	 	By:	 
	 	Name:	Michelle Johnston
	 	Title:	Chief Financial Officer



 


Signature Page to Investment Agreement


 


 


4