Wells Fargo is bringing in six more clean technology startups to join the Wells Fargo Innovation Incubator. The five-year, $10 million program looks to accelerate new technologies.
Wells Fargo Picked 4 Startups in 2015, Picks Up 6 More in 2016
It’s not two weeks into the year and Wells Fargo is already moving for better and cleaner technology. The initiative is funded by the Wells Fargo Foundation, and it is co-administered by the US Department of Energy National Renewable Energy Laboratory.
The program participants receive financial and technical consultation from a series of experts. They will also get research and testing support and the Laboratory’s facility in Golden, Colorado. Participating companies will have their technologies certified in the lab and will be working in certain Wells Fargo establishments.
The Companies Picked by Wells Fargo
7AC Technologies was picked among the six. They developed a liquid desiccant air conditioning technology. Their goal is to reduce electricity and potable water consumption around the world. Go Electric Inc makes meter energy solutions and provides renewable energy services. The also make advanced batteries and reduced energy generators. Heliotrope Technologies work on electrochromic devices to make low cost, energy saving smart windows.
NETenergy is a thermal energy storage company that brings together small commercial building air conditioning systems to change energy demand and consumption in low usage hours. Polyceed Inc makes high-tech smart materials. ThermoLift Inc makes natural-gas heat pumps and air conditioning to replace conventional heating, cooling and hot water equipment.
Will Bank of America and Chase Join the Efforts?
This program, according to NREL Innovation Entrepreneurship Center director Richard Adams wants to spread the development of clean energy and blanket as many industries as possible. Eventually, it will reach homes all over the world and stop climate change and global warming in its tracks.
Bank of America and Chase dedicate time and money on many causes, and this will probably soon be one of them. Clean energy is the new trend, starting with electric vehicles and moving onto autonomous driving and self-sufficient appliances. Chase has an Environmental Sustainability and JPMorgan Chase & Co. program and Bank of America is investing $125 billion into Transformational Financing. These programs will be making headlines throughout 2016 as clean technology takes over the mainstream.
