HomeUSAElemental Excelerator to Fund 15 Climate Companies in 12th Cohort

Elemental Excelerator to Fund 15 Climate Companies in 12th Cohort

Elemental Excelerator

Elemental Excelerator, an Honolulu, HI- and East Palo Alto, CA-based nonprofit investor in climate technology for deep community impact, introduced its latest cohort, bringing its total amount of investments to $79M.

With this latest cohort, Elemental is investing another $12.5M into climate solutions and will spearhead the development of 15 technologies crucial for heating and cooling our homes, reimagining critical resource extraction, advancing carbon removal and transforming the food system. These 15 climate companies will join an existing portfolio of more than 150 investments.

The 12th cohort focuses on a range of societal challenges, including sustainable urbanization, building decarbonization, electric vehicle charging, last-mile logistics, recycling optimization and regenerative food production. In addition to prioritizing community impact in its selection process, Elemental designs community engagement into the plan of every project deployment, and offers coaching on community engagement and workforce development. A significant portion of the cohort has a dedicated commitment to workforce development, many leaning into hiring and training locally, working with underrepresented groups and community members and upskilling and transitioning workers from the oil and gas industry.

With the inclusion of the 15 new investments, Elemental’s portfolio has expanded to encompass more than 165 companies, establishing a global presence that spans all 50 states and reaches more than 100 countries.

Commenting on the investment, Elemental Founder & CEO Dawn Lippert said: “This year, record heat and climate-fueled disasters have devastated our communities. Investors and innovators are taking note, and are pouring in to address climate change. This year, we met some of the strongest entrepreneurs in our 13+ years investing, and I am thrilled with the boldness and ambition of the companies in this cohort. These are the innovators who are creating the huge companies of the future – ones that invest in workers, reduce pollution, restore our soils and lower the costs of food and energy.

The cohort includes the following companies divided in themes:

The Cures for Carbon:

  • Capture6 removes carbon from the atmosphere using direct-air capture technology while increasing freshwater production by recovering more than 70% of clean water from brine.
  • Ebb Carbon enhances the ocean’s ability to absorb CO2 in a safe and natural form, delivering one of the most scalable and cost-effective carbon removal solutions on the market while benefiting coastal communities.
  • Yard Stick PBC‘s probe instantly and accurately measures soil carbon to unlock the full environmental and economic potential of regenerative farming, ranching and forestry practices.

Reimagining Our Resources

  • C16 Biosciences developed a biotechnology platform to create truly sustainable oils and fats, starting with a replacement for palm oil, which is found in 50% of consumer products and is a major culprit of deforestation.
  • Edacious bridges the gap between agriculture and human health by enabling the food system to accurately measure, report and verify the nutritional content of whole foods.
  • Genomines uses genetically enhanced plants to pull critical minerals like nickel from lands with metal concentrations too low for conventional mining processes, but too high for agricultural use.
  • Glacier‘s low-cost, easy-to-install sorting robots make it possible to keep more recycling facilities running sustainably in more communities, and provide item-level visibility on exactly which materials are being recycled.
  • Maui Nui Venison simultaneously alleviates the damaging impact invasive deer have on Hawaiʻi’s beautiful and vulnerable ecosystems while unlocking a healthy, local food resource.
  • Olokun Minerals extracts multiple minerals like lithium, magnesium and sodium from unconventional water resources, helping build the domestic supply chain needed for batteries and other vital clean energy technologies.

The Future at Your Fingertips

  • Bedrock Energy decarbonizes buildings like office towers or apartment complexes with large-scale geothermal systems that are smaller and faster to install.
  • Gradient‘s window heat pumps offer a hassle-free solution for year-round heating and cooling, with cold-climate capability for winter, climate-friendly refrigerants for summers and smart grid optimization for energy efficiency.
  • HIVED is modernizing package delivery with 100% electric vehicles, equitable pay for drivers and a friendly user experience for both retailers and people awaiting their purchases.
  • Kelvin transforms the energy inefficiency of radiator-heated buildings by integrating smart, insulated radiator covers with heat pumps and thermal batteries, achieving 80% electrification of heating at just 10% of the conventional cost.
  • SparkCharge‘s mobile charging solutions allow EV drivers to get miles of range delivered anywhere, helping the company become the fastest growing charging network in the U.S.
  • SunFi simplifies clean energy adoption in Nigeria by connecting consumers with trusted solar installers and providing flexible financing to keep costs low.

VCWire

18/10/2023