Exelon has chosen 10 climate change mitigation startups that will receive an initial $1m in funding as part of a $20m scheme.
Nasdaq-listed energy provider Exelon and its non-profit foundation have selected 10 startups to receive a combined $1m in direct funding to develop new technologies to mitigate and build resiliency to the impacts of climate change.
The application process for year two of the company’s $20m Climate Change Investment Initiative (2c2i) is now open.
Chris Gould, senior vice-president of corporate strategy and chief innovation and sustainability officer at Exelon, said: “We purposely designed the 2c2i initiative to support early-stage, often-overlooked startups with the potential to make a meaningful, on-the-ground impact on our communities’ climate goals, health and environment.”
The Exelon Foundation will invest $10m in early-stage startups working on climate change mitigation, adaptation and resiliency over a 10 year period. Exelon itself will match that commitment with up to $10m of in-kind services, including mentoring entrepreneurs on accessing capital, structuring business plans and meeting regulatory requirements.
Half of the startups chosen…
