Exelon Foundation and Exelon Corp. Name First Round Startups of The $20 million Climate Change Investment Initiative

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[{"type":"text","content":"\nThe year two application process is now open for startup projects addressing climate change in Atlantic City, NJ, Baltimore, Chicago, Philadelphia, Washington, D.C., and Wilmington, DE \n\n CHICAGO--(BUSINESS WIRE)--\nThe Exelon Foundation and Exelon Corporation (Nasdaq: EXC), the nation’s largest generator of carbon-free energy and the largest energy service provider by customer count, have selected 10 startups to receive a combined $1 million in direct funding to develop new technologies to mitigate and build resiliency to the impacts of climate change in the inaugural year of the company’s $20 million Climate Change Investment Initiative (2c2iSM). The application process for year two is now open.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200715005281/en/\n\nLed by the Exelon Foundation, the company’s nonprofit philanthropic organization, the initiative invests directly in the projects and people helping to address climate change mitigation and build resiliency to health and environmental pressures in under-resourced communities within Exelon’s service area. Startup applicants were also required to demonstrate how their projects would meaningfully advance state and local jurisdictions’ own sustainability goals under the US Climate Alliance.\n\n\n“As the nation’s largest producer of carbon-free energy, we understand the important role we must play to help the communities we serve address the environmental and public health impacts of climate change,” said Chris Gould, Exelon Senior Vice President, Corporate Strategy and Chief Innovation and Sustainability Officer. “Now more than ever, it’s become clear that real, fundamental change often comes from taking action at the local level. 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.”\n\n\nUsing an innovative new funding and support structure under 2c2i, the Exelon Foundation will invest $10 million over 10 years in early-stage startups working on climate change mitigation, adaptation and resiliency. Exelon Corporation will match those funds with up to a $10 million investment of in-kind services, including mentoring entrepreneurs on ways to access oth...

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