CHICAGO–(COMMERCIAL THREAD) – The Exelon Foundation and Exelon Corp., the country’s largest carbon-free energy producer, have selected nine startups that will receive funding to reduce greenhouse gas emissions and mitigate climate change as part of the the company’s Climate Change Investment Initiative (2c2i). Now in its second year, the initiative demonstrates the Exelon Foundation’s commitment to supporting programs that benefit the environment, especially those in underserved communities, which are disproportionately affected by climate change. The 2c2i initiative is in addition to the ongoing goal of Exelon Corp. to create a clean, next-generation energy network, using the innovative approach of impact investing to mitigate climate change.
The first cohort of startups selected by Exelon 2c2i have been busy this year, with projects ranging from the distributed solar installation of Amidus Resilience in Washington, DC, to the ongoing deployment of Dynamhex’s mapping decarbonization tool in the region. from Baltimore, Md., to Greenprint Partner’s green and rain-friendly stormwater mitigation project is about to be inaugurated at Sankofa Freedom Academy, a K-12 charter school in Philadelphia. For a full list of the first 2c2i wallet, please click here.
The second round of startups selected to receive funding includes:
Based in Albuquerque, New Mexico, Cambium Carbon is a circular economy platform for trees in U.S. cities that connects broken local supply chains with technology to create a new, highly desirable class of wood called Carbon-Smart WoodMT. They are building a two-sided market where customers can access hyper-sustainable wood, and suppliers have a software connection for large, recurring orders.
With its headquarters in Geneva, Illinois, ClearFlamePatented engine technology allows diesel engines to run on liquid decarbonized fuels without sacrificing performance or convenience, paving the way for real emissions reduction in heavy industry.
Climate robotics harnesses advanced robotics and artificial intelligence to combat climate change through the development of autonomous and continuous biochar production systems to improve soils and help sequester carbon. Climate Robotics is based in Walnut, California.
Based in Rockville, Maryland, Composting teamThe organics recycling business of offers simple, convenient and affordable food waste collection services on a large scale. This company integrates its distributed composting technology into its collection routes to build closed-circuit food recycling networks for any community, municipality or business.
ecoLANCE is a clean technology company ushering in the net zero future of environmental remediation. This Altamonte Springs, Florida-based company develops transformative green technologies that extract and remove persistent toxins like PCBs, dioxins and other persistent organic pollutants (POPS) from soil, sediment and water using technologies non-thermal and non-combustion. invented by NASA.
IVEditThe dialogue and digital data platform enables cities to improve modeling, develop smarter infrastructure, improve emergency preparedness and increase public confidence in major city projects. public infrastructure. By creating collective climate intelligence, this New Orleans-based company is saving its clients hundreds of thousands of dollars and helping to effectively facilitate inclusive adaptation to big changes.
Based in Philadelphia, Lula provides carbon neutral delivery solutions for convenience stores, pharmacies and CPG brands that do not have a secondary sales channel, delivering the first 30-minute multi-vendor delivery platform and a commitment to building a world cleaner and more durable.
Manta Biofuel produces renewable heating oil, economical and carbon neutral, produced from the CO2 that its algae biomass captures in the air. Located in Owings Mills, Maryland, this company’s process is unique in that it is agricultural, distributed and modular, unlike the photobioreactors of the biofuel past.
VarunaThe data and information platform generates digital representations of physical water systems (utilities and buildings), through the deployment of sensors and an AI-powered software platform. Based in Chicago, Varuna’s platform enables operators to efficiently manage the system, predict shocks and increase system resiliency.
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 large-scale commercialization. Exelon Corporation matches this investment with an in-kind investment of up to $ 10 million in pro bono services, including mentoring entrepreneurs on how to access other sources of capital, structure business plans, allocate financial resources and meet regulatory requirements. Selected startups can also leverage the company’s internal innovation programs – Constellation Technology Ventures and Partnership R&D – for advice.
To qualify for the 2c2i exam, startups must complete work that will benefit one or more of Exelon’s six major urban markets (Atlantic City, Chicago, Baltimore, Philadelphia, Washington, DC and Wilmington, DE.) And have the potential to make one. from the following:
Mitigate greenhouse gas emissions;
Increase the resilience of urban infrastructure (e.g. power grid, transportation systems, buildings, vacant land) against flooding, storm water and rising temperatures;
Help cities, businesses and communities adapt to climate change; or
Help achieve specific sustainability and climate goals for a state or city.
The application process for the third year of 2c2i is open. For more information, click here.
The Exelon Foundation would like to recognize the sponsor of the 2021 law firm, Katten, which provides in-kind legal services in support of the climate investments of the 2c2i program.
Exelon Corporation (Nasdaq: EXC) is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the United States. Exelon operates in 48 states, the District of Columbia and Canada and has 2020 revenue of $ 33 billion. Exelon serves approximately 10 million customers in Delaware, District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its subsidiaries Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco . Exelon is one of the largest competitive power producers in the United States, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity, comprising one of the world’s most electric power plants. cleaner and cheapest in the country. The Company’s Constellation business unit provides energy products and services to approximately 2 million residential, public and commercial customers, three-quarters of the Fortune 100. Follow Exelon on Twitter @Exelon.
About the Exelon Foundation
The Exelon Foundation is an independent, non-profit organization funded solely by Exelon Corporation with money from shareholders. The Foundation’s mission is to encourage respect for the environment, support innovative STEM education programs and strengthen the social and economic fabric of the community by matching the contributions of Exelon employees.