IN² Clean-Tech Startups

BY E.J. BERNACKI

DENVER, CO - The Wells Fargo Innovation Incubator (IN²), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the National Renewable Energy Laboratory, has selected the fourth round of clean-tech and energy efficiency startup companies to join the program.

The five startups join 20 other early-stage companies that have received sup-port to address energy challenges in com-mercial buildings, which currently account for more than 40 percent of energy usage in the U.S.

Each of the five early-stage companies will receive up to $250,000 in non-dilutive funding to test, validate and advance their technologies with a network of experts at the National Renewable Energy Laboratory’s research facility in Golden, CO. After validation in the lab, participating companies may have the opportunity to beta test on a Wells Fargo property or with a strategic program partner.

Portfolio companies selected for IN²’s fourth round are developing technologies designed to advance energy efficiency in commercial buildings. They are:

75F (Burnsville, Minn.). Easy-to-setup HVAC controls system with the potential to cut install time and costs by up to 80 per-cent, compared to traditional controls systems.

Ladybug Tools (Baltimore). Computer applications that support the design pro-cess for sustainable buildings and net-zero districts seeking to employ cutting-edge energy technologies.

Next Energy Technologies, Inc. (Santa Barbara, Calif.). Low-cost, printable, trans-parent energy-har vesting coatings that are seamlessly integrated into windows to provide onsite renewable power.

UbiQD, Inc. (Los Alamos, N.M.). Nanomaterials for energy har vesting that provide a simple, scalable, low-cost and aes-thetically pleasing approach to solar windows.

Yotta (Austin, Texas). Modular energy storage integrated with solar, designed to reduce cost and expand development of energy storage and grid resiliency on com-mercial buildings.

“This initiative began four years ago to help cutting-edge, clean-technology start-ups refine and further develop their tech-nology to speed the path to market and improve sustainability in commercial buildings,” said Ramsay Huntley, Clean Technology and Innovation Philanthropy program officer for Wells Fargo. “Our $30 million program has invited 25 startups to participate, and those companies have gone on to collectively raise more than $100 million in external follow-on funding, making the Wells Fargo Innovation Incubator one of the premier launchpads for advancing clean technologies in the U.S.”

Launched in 2014, the IN² facilitates the commercialization and adoption of clean energy technologies. With resources from Wells Fargo and the National Renewable Energy Laboratory, IN² pro-vides funding, technical assistance and real-world beta testing opportunities that help companies uniquely understand their cus-tomers. Founded initially to address energy challenges in commercial buildings, the program recently expanded its focus to include the interconnection of food, energy and water.

“We are excited to welcome these five innovative companies and look for ward to helping them tackle sustainability and ener-gy efficiency challenges and speed their path to market,” said Trish Cozart, IN² program manager at the National Renewable Energy Laboratory. “Companies participating in previous rounds are already demonstrating their technologies in real-world applications, receiving follow-on funding and being acquired by successful corporations. This sustained success demonstrates the value of our program and enhances our ability to attract the highest quality appli-cants and companies moving forward.”

As an invitation-only program, IN² finds and selects companies through its Channel Partners, a curated network of incubators, accelerators and universities across the U.S. that refer startups to the program. Once referred, companies partici-pate in a highly competitive application and selection process to determine which will be invited into the next round of partici-pants.

For a complete list of IN² portfolio companies and Channel Partners, visit IN²ecosystem.com.

ABOUT THE WELLS FARGO INNOVATION INCUBATOR

IN² is a $30 million clean-technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN²’s mission is to speed the path to mar-ket for early-stage, clean-technology entrepreneurs. Companies selected for participation in the program receive up to $250,000 in non-dilutive funding from Wells Fargo, technical support and validation from experts at NREL and the Danforth Plant Science Center’s facilities, and the opportu-nity to beta test at a Wells Fargo facility or with a strategic program partner. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN² is expanding its focus in 2018 to support inno-vation in sectors such as transportation, food systems, energy storage and others with the ultimate goal of fostering smart and connected communities of the future. For more information, visit IN²ecosystem.com.