Chicago’s local climate-focused start-ups are set to benefit from a significant investment initiative, 2c2i. The programme is a collaborative effort between the Exelon Foundation and Exelon Corporation, offering a significant financial impetus to innovative companies battling climate change.
2c2i is investing $10m into qualifying start-ups working on initiatives to improve the quality of life in various cities, including Chicago. The funding is part of Exelon’s broader commitment to enhancing regional ecosystems where the company operates. This year, 2c2i’s key investor line-up includes the Exelon Foundation and Exelon Corporation.
The investment programme supports start-ups whose products, services, or technologies are geared towards tackling climate change and enhancing the quality of life in the communities most impacted by climate change. To qualify for 2c2i support, start-ups must be actively contributing towards mitigating greenhouse gas emissions, bolstering the resilience of urban infrastructure, assisting cities, businesses, and communities in adapting to climate change, or contributing to specific sustainability and climate objectives of a state or city.
The funding is expected to help companies intensify their efforts in climate change mitigation. It’s also aimed at promoting entrepreneurship by offering mentoring in accessing additional capital sources, structuring business plans, financial resource allocation, and regulatory compliance.
Over the past two years, 2c2i has significantly impacted its supported communities, with its start-ups raising over $100m in follow-on investments. These companies include Clearflame, an Illinois-based firm that developed a patented internal combustion engine technology running on clean-burning fuels. Another recent recipient of a 2c2i investment is Aclima, an innovative company specialising in the diagnosis of air quality and tracking climate change pollution.
Exelon Corporation’s President and CEO, Calvin Butler, emphasized the importance of the 2c2i programme in tackling climate change. He stated, “Climate change requires us to take bold, collective action. The 2c2i programme is a key component of Exelon’s commitment to addressing climate change in the communities most affected, which are often also the most underserved.”
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