ENVIRONMENT & ENERGY STEM EDUCATION EMPLOYEE GIVING
Environment & Energy Stem Education Employee Giving
Overview Investment Funding Application FAQs
Activating Innovation for Social
Purpose in our Communities
Activating Innovation
for Social Purpose
in our Communities
Overview
Overview
The Climate Change Investment Initiative (2c2i℠), launched by The Exelon Foundation and Exelon Corporation was created to fund startups working
to address climate change in Exelon’s service territories. Our goal is to invest in startups that complement the Exelon Foundation philanthropic goals,
while providing access to in-kind contributions, including business plan review and advisory services, from Exelon Corporation.
The Climate Change Investment Initiative (2c2iSM), launched by The Exelon Foundation and Exelon Corporation was created to fund startups working
to address climate change in Exelon’s service territories. Our goal is to invest in startups that complement the Exelon Foundation philanthropic goals,
while providing access to in-kind contributions, including business plan review and advisory services, from Exelon Corporation.
Areas of Investment
Areas of Investment
Specifically, 2c2i will concentrate on startups doing work in and around Exelon Corporation’s six major markets of Atlantic City, Baltimore, Chicago,
Philadelphia, Washington DC and Wilmington DE, that have a business (product or service) focused on greenhouse gas (GHG) mitigation or building
local resiliency through climate change adaptation strategies, and can relate to helping reach city sustainability goals. Each of these cities or regions
have GHG goals and climate action plans that identify key action areas and opportunities. In general, they focus on the following:
Specifically, 2c2i will concentrate on startups doing work in and around Exelon Corporation’s six major markets of Atlantic City, Baltimore, Chicago,
Philadelphia, Washington DC and Wilmington DE, that have a business (product or service) focused on greenhouse gas (GHG) mitigation or building
local resiliency through climate change adaptation strategies, and can relate to helping reach city sustainability goals. Each of these cities or regions
have GHG goals and climate action plans that identify key action areas and opportunities. In general, they focus on the following:
  • Improving building or process energy efficiency and/or supply to reduce GHG emissions;
  • Electrification of transportation to reduce GHG emissions; and
  • Infrastructure/community resilience to increasing heat, storm and flood risks.
  • Improving building or process energy efficiency and/or supply to reduce GHG emissions;
  • Electrification of transportation to reduce GHG emissions; and
  • Infrastructure/community resilience to increasing heat, storm and flood risks.
Some common themes among the plans are outlined below:
Some common themes among the plans are outlined below:
  • Mitigation
    • Reduce GHG Emissions
    • Build Energy Efficiency Improvements
    • Electrification of Transportation
    • Renewable Energy Growth
  • Resiliency and Adaptation
    • Integrate Climate Change Effect into Planning
    • Enhance Flood Mitigation
    • Improve Stormwater Management
    • Response to Hotter Temperatures
  • Mitigation
    • Reduce GHG Emissions
    • Build Energy Efficiency Improvements
    • Electrification of Transportation
    • Renewable Energy Growth
  • Resiliency and Adaptation
    • Integrate Climate Change Effect into Planning
    • Enhance Flood Mitigation
    • Improve Stormwater Management
    • Response to Hotter Temperatures
Funding and In-Kind Services
Funding and In-Kind Services
The total size of the commitment is up to $20 million over ten years. The Exelon Foundation will invest a total of $1M in the winning start-ups each
year, and Exelon Corporation will provide up to a total of $1M per year of in-kind services, including:
The total size of the commitment is up to $20 million over ten years. The Exelon Foundation will invest a total of $1M in the winning start-ups each year, and Exelon Corporation will provide up to a total of $1M per year of in-kind services, including:
  • Business plan review and advice
  • Networking with external sources of follow-on capital
  • Financial, operational or strategic advice
  • Access to Exelorate and other Exelon Innovation programs
  • Business plan review and advice
  • Networking with external sources of follow-on capital
  • Financial, operational or strategic advice
  • Access to Exelorate and other Exelon Innovation programs
Application Process and Pitch Meetings
Application Process and Pitch Meetings
The application will open on July 15, 2020, and applications are due on or before September 20. Applications will be reviewed by Exelon Foundation
and Exelon Corp. staff to determine which organizations will move forward to pitch meetings planned for the first half of November. The Exelon
Foundation expects to finalize winner selection in December and complete due diligence and transaction structuring in the first half of 2021, providing
a total of $1 million to eight to twelve startups. Additional details on the process and timing are included in the following FAQ’s.
The application will open on July 15, 2020, and applications are due on or before September 20. Applications will be reviewed by Exelon Foundation and Exelon Corp. staff to determine which organizations will move forward to pitch meetings planned for the first half of November. The Exelon Foundation expects to finalize winner selection in December and complete due diligence and
transaction structuring in the first half of 2021, providing a total of $1 million to
eight to twelve startups. Additional details on the process and timing are included in the following FAQ’s.
FAQ's
FAQ's
What is the application process?
The application will be accessible at https://www.exelonfoundation.org/environment.html after July 15, 2020.
  • To be eligible, all applicants must submit the application on-line by September 20, 2020. These applications will be reviewed and if your
    organization is chosen to move forward you will be notified via email the week of October 5.
  • The Exelon Foundation will invite start-ups to pitch meetings tentatively set during the first half of November in Atlantic City, Baltimore, Chicago,
    Philadelphia, Washington DC and Wilmington DE.
  • Following the pitch meetings, a review team of Exelon Foundation and Exelon Corp. staff will provide recommendations to the Exelon Foundation
    Board for consideration.
  • The Exelon Foundation expects to notify winners in late December or early January.
How will the pitch meetings be structured?
Details on the format will be provided when startups are invited. There will be an option to participate on-line as opposed to in-person, and all events
will comply with public health protocols.
What is the average size investment?
Individual investments can range from $75,000 to $300,000.
What is the investment duration?
3-5 years
How will the investment be structured?
The Exelon Foundation will make investments utilizing different transaction structures as deemed suitable. Options will include direct common equity,
preference shares, debt and convertible securities including SAFE Notes.
What are the criteria for the initiative?
  • Climate change alignment. The extent to which the company demonstrates a clear tie to either climate change mitigation of GHG emissions
    and/or adaptation to specific climate change threats.
  • Key market engagement. The extent to which the company will engage, impact, and help Exelon utility markets to reduce climate change impacts
    and/or increase community resilience in-line with the city climate goals/initiatives.
  • Environmental and social justice communities. The extent to which the company is community- focused and addresses climate mitigation and
    resilience needs relevant to environmental and social justice populations, including designated disadvantaged communities.
  • Measurable impact. The extent to which the company provides practical and effective ways to measure its impact in reducing GHG emissions or
    improving community resilience to the impacts of climate change.
  • Scalability. The extent to which the company will be able to scale and achieve wider deployment of GHG emissions reduction or climate change
    resilience solutions.
  • Innovation. The extent to which the company has an innovative product/service or solution for climate change mitigation/adaption with a clear
    and differentiated value proposition.
  • Company Strength. The extent to which the company has demonstrated traction, technology, funding, or other indicators inspiring confidence in
    their ability to achieve stated business plans/goals.
  • Leadership. The extent to which the company has a strong leadership team capable of and committed to executing the company’s vision.
  • Overall Fit. The extent to which the company is an overall fit for Exelon’s strategic interests and objectives for the 2c2i portfolio.
  • Minority/Women-Owned Business Enterprises (MWBE.) Greater consideration will be given to MWBE’s located within Exelon Corporation’s
    major markets, and we will strive for investments with MWBE’s.
Where can I find the city-specific climate change and sustainability plans?
Below are links to the various climate change and sustainability plans by market.
If my business is located outside of Exelon’s metropolitan markets, will we still be eligible?
Businesses can be located outside of the six markets, but the work needs to impact one of them.
Are non-profit organizations eligible to apply?
Non-profit organizations are not eligible to apply to the 2c2i program.
Who do I contact with questions regarding the program criteria?
Who should I contact if I am having technical problems with the on-line application?
Please send any inquiries to exelonfoundation@exeloncorp.com and someone will respond within 1-2 business days. Questions can also be addressed
to Bruce Carrington at Freshwater Advisors at Bruce@FreshwaterAdvisors.com or 202-670-3542.