Exelon Foundation, Exelon Corp. Launch Climate Change Investment Initiative
26 September 2019 - 01:22AM
Dow Jones News
By Stephen Nakrosis
Exelon Corp. (EXC) and the Exelon Foundation on Wednesday said
they were launching a $20 million Climate Change Investment
Initiative to assist startup companies working to develop
technologies that reduce greenhouse gas emissions.
The Exelon Foundation is an independent, nonprofit group that
receives its funding solely from Exelon Corp.
The Foundation will contribute $10 million over the next 10
years to fund the initiative. Exelon Corp. will match that amount
with an in-kind investment of pro-bono services, including
mentoring, assisting with business plans and helping meet
regulatory requirements.
Eligible startups must be doing work that will be of benefit to
Atlantic City, Chicago, Baltimore, Philadelphia, Washington, D.C.,
or Wilmington, Dela., all of which are major Exelon markets.
Some of the innovations the Foundation is looking for will help
mitigate greenhouse gas emissions, help cities and businesses adapt
to climate change and help urban infrastructure deal with flooding,
stormwater and rising temperatures.
The Foundation said "minority and women-owned businesses will
receive particular consideration."
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
September 25, 2019 19:07 ET (23:07 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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