CHICAGO--(BUSINESS WIRE)--The Exelon Foundation and Exelon Corp., the nation’s largest generator of carbon-free energy, have selected nine startups to receive funding to reduce greenhouse gas emissions and mitigate climate change as part of the company’s Climate Change Investment Initiative (2c2i). Now in its second year, the initiative demonstrates the Exelon Foundation’s commitment to support programs that benefit the environment, particularly those in underserved communities, which are disproportionately impacted by climate change. The 2c2i initiative adds to Exelon Corp.’s continuing goal to create a clean, next-generation energy grid, utilizing the innovative approach of impact investing to mitigate climate change.
The first cohort of the Exelon 2c2i selected startups have been busy this past year, with projects ranging from Amidus Resilience’s distributed solar installation in Washington, D.C., to the pending deployment of Dynamhex’s map-based decarbonization tool in the Baltimore, Md., region to Greenprint Partner’s rain-friendly, green stormwater mitigation project about to break ground at Sankofa Freedom Academy, a K-12 Charter school in Philadelphia. For a full list of the first 2c2i portfolio, please click here.
The second round of selected startups to receive funding include:
Based in Albuquerque, N.M., Cambium Carbon is a circular economy platform for trees in US cities that connects broken local supply chains through tech to create a new, highly desirable, class of wood called Carbon-Smart WoodTM. They are building a two-sided marketplace where customers can access hyper-sustainable wood, and suppliers have a software-enabled connection to large recurring orders.
With headquarters in Geneva, Ill., ClearFlame’s patented engine technology enables diesel engines to run on decarbonized liquid fuels without sacrificing performance or practicality, driving the fastest path to true emissions reduction in heavy-duty industry.
Climate Robotics leverages advanced robotics and artificial intelligence to fight climate change through the development of autonomous, continuous biochar production systems to improve soils and help sequester carbon. Climate Robotics is based in Walnut, Calif.
Based in Rockville, Md., Compost Crew's organics recycling business offers simple, convenient and affordable food waste collection services at scale. This company integrates its distributed composting technology with its collection routes to build closed loop food recycling networks for any community, municipality or business.
ecoSPEARS is a cleantech company ushering in the net-zero future of environmental remediation. This Altamonte Springs, Fla.--based company develops transformative green technologies that extract and eliminate persistent toxins like PCBs, dioxins, and other persistent organic pollutants (POPS) from the soil, sediment, and water utilizing non-thermal and non-combustion technologies invented by NASA.
ISeeChange’s digital dialogue and data platform enables cities to improve modeling, develop smarter infrastructure, enhance emergency preparedness, and grow public trust in major public infrastructure projects. By building collective climate intelligence, this New Orleans-based company saves clients hundreds of thousands of dollars and helps to efficiently facilitate inclusive adaptation to big changes.
Headquartered in Philadelphia, Lula provides carbon-neutral delivery solutions for convenience stores, pharmacies, and CPG brands that do not have a secondary sales channel, offering the first multi-vendor 30-minute delivery platform and a commitment to building a cleaner, more sustainable world.
Manta Biofuel produces renewable, cost-competitive, carbon-neutral heating oil produced from the CO2 that their algae biomass captures from the air. Located in Owings Mills, Md., this company’s process is unique because it is agricultural, distributed, and modular, in contrast to the photobioreactors of biofuel's past.
Varuna's data and insights platform generate digital representations of physical (utilities and buildings) water systems, through the deployment of sensors and an AI-powered software platform. Based in Chicago, Varuna’s platform empowers operators to effectively manage the system, predict shocks and increase system resilience.
Over 10 years, the Exelon Foundation is contributing $10 million to fund the 2c2i initiative, focusing on clean energy and environmental technologies with potential for wide-scale commercialization. Exelon Corporation matches that investment with up to a $10 million in-kind investment of pro-bono services, including mentoring entrepreneurs on ways to access other sources of capital, structure business plans, allocate financial resources and meet regulatory requirements. Selected startups also can tap the company’s internal innovation programs – Constellation Technology Ventures and Partnership R&D – for counsel.
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, DE.) and have the potential to do one of the following:
- Mitigate greenhouse gas emissions;
- Boost the resiliency of urban infrastructure (e.g., the power grid, transportation systems, buildings, vacant land) 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.
The application process for year three of 2c2i is open. For more information, click here.
The Exelon Foundation would like to recognize 2021 law firm sponsor, Katten, which is providing in-kind legal services in support of the 2c2i program climate investments.
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2020 revenue of $33 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100. Follow Exelon on Twitter @Exelon.
About the Exelon Foundation
The Exelon Foundation is an independent, nonprofit organization funded solely by Exelon Corporation through shareholder dollars. The mission of the Foundation is to encourage respect for the environment, support innovative STEM education programs and strengthen the social and economic fabric of the community by providing a match to Exelon employee contributions.