Which are Wells Fargo's Top 10 Firms for Cleantech Scheme?
The Wells Fargo Innovation Incubator (IN²) has selected 10 companies to take part in the first cohort of its new Scalable Tech Track programme.
This US$50m programme is designed to help organisations accelerate cleantech adoption and collaborate to address climate challenges.
It is funded by the Wells Fargo Foundation and co-administered by the US Department of Energy’s National Renewable Energy Laboratory (NREL).
Sarah Derdowski, IN² Program Manager at NREL, says: “Organisations are under increasing pressure to decarbonise, facing significant costs and reputational risks if they fail to act.”
“Despite these pressures, many organisations still aren’t adopting clean technologies fast enough.
“The new Scalable Tech Track is designed to help organisations accelerate cleantech adoption and collaborate in an effort to address urgent climate challenges together.”
The Wells Fargo Innovation Incubator
IN² was founded in 2014 by Wells Fargo and NREL with an initial focus on commercialising solutions that reduce the energy impact of commercial buildings.
It later expanded its focus to advance technologies that address the sustainable production of agriculture and housing affordability.
“Wells Fargo is proud to support the expansion of the IN² program to advance cleantech adoption,” said John Moon, SVP and Sustainable Philanthropy Leader at Wells Fargo.
“We’ve learned firsthand how valuable the types of pilot programmes that these organisations will undertake are by working with a number of start-ups in the IN² portfolio.
“The participating organisations will receive actionable steps and knowledge from the experts at NREL to support them as sustainability leaders in their respective industries.”
The launch of the Scalable Tech Track programme is in collaboration with Overlay Build, aimed at addressing demand-side market barriers and increasing widespread adoption of cleantech solutions.
The Scalable Tech Track programme
The programme will consist of workshops focused on how to implement new technologies through digitisation and change management.
By the end of the programme, participants will compete to receive up to US$250,000 to conduct pilot projects with start-ups from IN².
IN² is currently accepting applications from cleantech start-ups ready for large scale pilots with at least one year of post-revenue traction.
Companies selected for the Scalable Tech Track
10 companies have been selected to participate in the programme:
- Avangrid: Interested in continuing to build a culture of innovation and scouting new technologies. Headquartered in Orange, Connecticut.
- CBRE: Focused on solutions that simplify complexity, improve efficiency and accelerate the decarbonisation of real estate portfolios at scale. Headquartered in Dallas, Texas.
- Coconino County: Will develop and implement a comprehensive school and district-based decarbonisation plan to address climate change through mitigation. Located in north central Arizona.
- Digital Realty: Committed to reducing its power consumption and expanding its reach without expanding its carbon footprint through technology. Headquartered in Austin, Texas.
- Galvanize Climate Solutions: A first-of-its-kind sustainable real estate platform aiming to invest in well-located, high-quality real estate to reduce the property’s carbon footprint, improve cash flow and increase asset values. Headquartered in San Francisco, California and New York, New York.
- Intermountain Health: Strives to help people live the healthiest lives possible by providing high-quality and affordable healthcare while being a resilient health system with a large footprint and sustainability goals. Headquartered in Salt Lake City, Utah.
- Prime Data Centers: Seeks innovators that help create a world that thrives, where technology and sustainability advance together. Headquartered in Dallas, Texas.
- Schneider Electric: A global leader in electrification and digitization for smart buildings and data centers, looks to provide technologies to accelerate decarbonization in built environments. U.S. headquarters in Boston, Massachusetts.
- Southern Company: The provider of energy solutions for more than 9 million customers, with a goal of net-zero greenhouse gas emissions by 2050. Headquartered in Atlanta, Georgia.
- The University of Colorado Boulder: Seeks to make its building footprint, both old and new, carbon neutral by no later than 2050.
Sarah Martinez, Vice President for ESG at Prime Data Centers, says “It's exciting to work with these other organisations, committed to advancing technology for a better tomorrow.”
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