Wells Fargo (NYSE:WFC) has launched a $10m environmental grant for clean technology startups.
Funded by the Wells Fargo Foundation and co-administered by the Energy Department’s National Renewable Energy Laboratory (NREL), the Innovation Incubator (IN2) program aims to foster the development of early stage clean technologies for commercial buildings.
Clean technology startups will be identified and recommended by Wells Fargo’s network of technical, financial and industry advisors at laboratories and research facilities across the country.
The first of three rounds of selected companies will be announced in early 2015, and will receive up to $250k for business development needs, research and testing support at NREL’s facility in Golden, Colo., along with coaching and mentorship from Wells Fargo.
The IN2 program will source candidates from universities and regional accelerators providing a pipeline of early stage technology companies to apply. Selected technology companies will reach specific technology milestones in the NREL lab with an opportunity to deploy and field test in Wells Fargo buildings.
The first year of the program will focus on sustainable buildings technologies that will provide cost savings and reduce the overall negative impact of the built environment on human health and the natural environment. Qualifying technologies may include energy efficiency, lighting solutions, net zero-energy, water efficiency, indoor environmental quality enhancement, waste reduction, materials efficiency, operations and maintenance optimization, datacenter facilities management.