Exelon awards $20M to nine startups as part of its climate initiative
Exelon Corp. and the Exelon Foundation recently selected nine startups to receive funding as part of its Climate Change Investment Initiative (2c2i).
This 10-year, $20 million initiative seeks to invest in startups with clean energy and environmentally sustainable technologies with the potential for wide-scale impact.
“At this critical point in the fight against climate change, we are focused on finding innovative solutions to mitigate the increasingly devastating effects,” Exelon President and CEO Chris Crane said. “Through our direct and indirect 2c2i investments, we are investing in the latest sustainable technologies to reduce those impacts in the communities we serve, particularly in under-resourced areas, which are disproportionately affected by climate change.”
The selected startups include Carbon Reform, a company based in Wilmington, Del., that focuses on removing CO2 and pollution from indoor air; ChargerHelp!, a Los Angeles-based company that seeks to provide on-demand charger repairs; Cleartrace, an Austin-based startup that delivers 100 percent traceable and verifiable energy and carbon records; Just Vertical, a firm that allows anyone to grow their own fresh, healthy food at home; Kadeya, a Chicago-based network of smart bottling stations; Pearl Certification, a Virginia-based company that offers a clean technology certification program; Hidden Gems, a Philadelphia-based outfit that makes nutritious products from food waste; Showerstream, an Austin-based company that makes a smart shower system to save water; and Traxen, a Michigan-based developer that helps trucking fleets to reduce fuel consumption.
To qualify for 2c2i consideration, startups must be doing work that will benefit one or more of Exelon’s six major urban markets — Atlantic City, Chicago, Baltimore, Philadelphia, Washington, D.C., and Wilmington, Del. It must also do one of the following — mitigate greenhouse gas emissions; boost the resiliency of urban infrastructure against flood, stormwater, and rising temperatures; help cities, businesses and communities adapt to climate change; or help achieve a state or city’s specific sustainability and climate goals.
