Decarbonizing Buildings with Innovative Clean Tech Solutions
Wells Fargo’s Innovation Incubator (IN²) announced its newest effort toward building a decarbonized environment: granting $250,000 in non-dilutive funding to three pioneering companies, all focused on making significant changes toward energy efficiency and reducing carbon emissions from buildings.
The US Department of Energy’s National Renewable Energy Laboratory (NREL) co-manages the program, which chose the selected startups as part of its 14th cohort through the Emerging Tech Track. In addition to funding, participants will get access to NREL’s cutting-edge research facilities and expertise to advance their innovations.
The selected companies—Blip Energy, Evercloak, and Transaera—are addressing some of the biggest challenges to decarbonize the built environment. Each brings unique technologies designed to address energy consumption and emissions, contributing to global sustainability efforts:
– Blip Energy (Chicago, Illinois):
Focused on smart battery platforms, Blip Energy technology is energy usage management for those appliances which have a lot of loads, such as the refrigerator and air conditioner. It saves the hassle that installation causes, hence easy, inexpensive way to attain energy efficiency. Blip is working with NREL’s Dr. Ravi Kishore.
– Evercloak (Waterloo, Ontario):
Evercloak is a dehumidification system company using graphene-oxide membrane technology, which enables a 50% reduction in the consumption of cooling energy for buildings. Evercloak has collaborated with Dr. Jason Woods of NREL to make this innovation perfect.
– Transaera (Somerville, Massachusetts):
Transaera specializes in energy-efficient air conditioning. The company’s dehumidification system is designed to integrate directly into HVAC systems, allowing the system to reduce the commercial buildings’ energy consumption by 40%. Dr. Nelson James from NREL will be assisting in their technology development.
Sustainable Innovation Commitment
Since its founding, IN² has assembled a portfolio of 75 companies working to advance sustainability in agriculture, housing, and energy, among other sectors. These startups have collectively raised over $2.6 billion in follow-on funding, cementing IN²’s position as a launchpad for clean technology innovation.
Jeff Schub, Wells Fargo’s senior vice president of Sustainable Finance Integration, noted the importance of this partnership:
“As demand for sustainable solutions in the building sector continues to grow, we’re proud to support innovative startups poised to address these challenges. The work being done by this cohort underscores the importance of advancing resilience and sustainability in our communities.”
Driving Change in the Built Environment
By equipping startups with the ability to create impactful and scalable clean technologies, Wells Fargo and NREL look to accelerate the transition toward net-zero buildings. Solutions from this cohort represent a larger commitment toward decarbonizing the built environment, helping shape a more sustainable and energy-efficient future.
Through programs like IN², Wells Fargo is reaffirming its dedication to creating a cleaner, greener world-one innovative solution at a time.