Clean Energy Trust committed to $10 million in direct investing in early stage companies and to help CET portfolio companies raise an additional $100 million through 2025 while attending the White House Clean Energy Investment Summit in the Eisenhower Old Executive Office Building in Washington, DC.
“Clean Energy Trust is ecstatic to join President Obama in supporting cleantech solutions to climate change,” said Amy Francetic, CEO of Clean Energy Trust. “CET is an impact investor fueling innovation to create a healthier environment and more prosperous future. We will continue this mission for the next decade and beyond and further establish the Midwest as the U.S. hub for break-through cleantech innovation and job creation.”
Since its founding in 2010, CET has helped launch, fund, and grow early-stage cleantech companies through direct investment, venture development, and advocacy. Direct investment, fundraising support and mentorship from CET to its portfolio companies play critical roles in their early-stage growth. CET has awarded more than $3.2 million to more than two dozen Midwestern cleantech companies who have raised more than $62 million in follow-on private and public funding, created more than 300 high tech jobs in the Midwest, and are impacting lives across the globe.
“Clean Energy Trust remains committed to harvesting the resources and world-class research talent of the Midwest to move innovation to market and advance the global causes of clean energy and sustainability,” said CET co-founder and co-chairman Nicholas Pritzker.
The White House Clean Energy Investment Summit is being held today to announce commitments by major foundations, institutional investors, and other long-term investors to fund climate change solutions, including innovative technologies with breakthrough potential to reduce carbon pollution. Additionally, the White House announced a series of new executive actions to encourage private-sector investments in clean energy innovation.
CET is a key partner for the U.S. Department of Energy (DOE) and works in close partnership with many DOE initiatives including the National Clean Energy Business Plan Competition, the National Incubator Initiative for Clean Energy, and the Joint Center for Energy Storage Research. In 2013, the Department of Energy ranked CET first among its Innovation Ecosystem peer grant awardees for overall impact, a distinction that has led to ongoing collaboration with DOE and peers.
About Clean Energy Trust: Clean Energy Trust (CET) is an impact investor that fuels innovation to create a healthier environment and more prosperous future. CET launches, funds, and grows early stage clean energy startups in the Midwest through direct investment, venture development, and policy advocacy. Since 2011, CET has invested in over 20 startups from 6 Midwest states that have gone on to raise an additional $62 million in follow on funding and create over 300 new jobs. For more information, visit www.cleanenergytrust.org.