Five energy startups join IN2 initiative
The Wells Fargo Foundation and the Department of Energy’s (DOE) National Renewable Energy Laboratory (NREL) have added five new clean-tech startups to the Wells Fargo Innovation Incubator (IN2) program.
The IN2 program, which was launched four years ago with the goal of expediting the path to market for innovative and promising new energy technologies, is part of an ongoing partnership between the two entities.
The Wells Fargo Foundation extended IN2’s original $10 million investment in 2017 with an additional $20 million boost to support the program through 2022. IN2 is also broadening its scope to include new technology sectors.
The selected companies are 75F of Burnsville, Minnesota; Baltimore, Maryland-based Ladybug Tools; Next Energy Technologies, Inc., Santa Barbara, California; Los Alamos, New Mexico-based UbiQd, Inc.; and Yotta, Austin, Texas.
The selected companies will receive up to $250,000 in technical assistance and project-related support to help with the testing and validation of their concepts, officials said, stages where NREL’s broad spectrum of expertise and capabilities play a key role.
“Through partnerships, we’re able to gain insight into industry and inform new research at the lab,” NREL Director Martin Keller said. “Strong partners, such as Wells Fargo, keep our technologies moving forward, help create demand for new energy innovations, and grow opportunities for new collaboration.”
