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Solstice Receives Funding From Elemental Excelerator To Expand Reach To CA
Solstice • September 25, 2018
Commitment fuels the company’s mission to expand clean energy access to all Americans
Elemental Excelerator announced today that it will invest up to $750,000 in Solstice Power Technologies to expand its community solar services to California. Solstice is one of the first to receive an investment through the Equity and Access Track of Elemental Excelerator’s growth accelerator program.
Solstice is dedicated to bringing affordable solar power to the 80% of Americans who cannot install a rooftop system. Solstice offers turnkey customer solutions for the shared solar industry, enrolling households and community organizations, creating financial innovations that expand access to underserved Americans, and providing a frictionless subscriber management software platform for community solar projects.
Solstice has educated 38,000 households across 16 community solar projects in NY, MA, DC, and NJ, and its recent projects include partnerships with the New York City Housing Authority, community-based organizations, and workforce development partners to bring savings and solar energy to affordable housing residents in Queens.
Solstice becomes one of seven companies in Elemental Excelerator’s first ever Equity & Access track cohort. Elemental Excelerator’s track and funding is designated for growth-stage startups delivering community-driven and earth-positive innovation to California’s low- to moderate-income (LMI) and disadvantaged communities and will contribute to the expansion of Solstice’s inclusive shared solar initiatives in California. Other members of this year’s Equity & Access cohort include BioCellection, BlocPower, Microvi Biotech, Scoot, Swiftly, and Yerdle.
California has been a leading state for solar programs targeted at including LMI households. A recent slate of new initiatives, including its Solar On Multifamily Affordable Housing (SOMAH) and Disadvantaged Communities – Green Tariff (DAC-Green Tariff), promise to expand opportunities to access solar for households in low-income communities.
“We’re so grateful for Elemental Excelerator’s support for sustainable technologies that directly serve low-income and marginalized communities,” said Solstice CEO Steph Speirs. “ We’re excited to expand our work in California and to bring solar to more American communities.”
“The tremendous interest in the new track demonstrates that this approach makes sense not only socially, but also presents a compelling opportunity for emerging technology companies to widen their total addressable market. We look forward to working with our newest cohort and local partners to take their businesses to the next level,” said Sara Chandler, Elemental Excelerator’s Manager for Policy & Community, California.
Solstice is dedicated to bringing affordable solar power to the 80% of Americans who cannot install a rooftop system. Solstice offers turnkey customer solutions for the shared solar industry, enrolling households and community organizations, creating financing innovations that expand access to underserved Americans, and providing a frictionless subscriber management software platform for community solar projects. To learn more, please visit solstice.us
About Elemental Excelerator:
Elemental Excelerator helps startups change the world, one community at a time. Each year, they find 15-20 companies that best fit their mission and fund each company up to $1 million to improve systems that impact people’s lives: energy, transportation, water, agriculture, and beyond. To date, they have awarded $30 million to more than 80 companies. For more information, please visit elementalexcelerator.com.