FOR IMMEDIATE RELEASE
Press Contact:
Haylee Gemeiner
haylee@mhubchicago.com
mHUB Opens Applications for its 2023 Climate and Energy Tech Accelerator Supported by Industry Partners Invenergy and Constellation
Following the launch of the program’s second MedTech cohort in March, applications are now open for the mHUB Accelerator’s second Climate & EnergyTech cohort in May 2023.
(CHICAGO May 15, 2023) - mHUB, one of the nation’s leading independent hardtech and manufacturing innovation centers, has opened applications for its 2023 Climate and EnergyTech accelerator program. The organization’s fifth cohort is focused on early-stage startups developing hardtech solutions in hydrogen, carbon capture and sequestration, renewable energy, energy storage, distributed energy resources, and electrification and decarbonization of hard to abate industries. The application window is open from May 15 to July 12, with teams inducted into the 6-month accelerator program in September 2023.
Invenergy, an American leading privately held developer, owner, and operator of sustainable energy solutions, will be returning as a program industry partner alongside Constellation, the nation’s largest producer of carbon-free energy providing sustainable solutions to homes, businesses, and public-sector customers across the continental United States. As program industry partners, Invenergy and Constellation will help identify and select startups in key technology areas for the program and engage with the cohort to provide mentorship and industry connections. Partners Evergreen Climate Innovations and Perkins Coie will also return to provide strategic programming, further access to industry and investment, and legal support resources for startups, respectively.
From a global pool of applicants, 8-10 of the most promising startups will be selected to participate in the intensive 6-month acceleration program that includes rapid product development and prototyping, business development, business modeling, and leadership training, mentorship, customer validation, and piloting. By connecting participants with the program’s partners and broad industry network, market demand is established for each startup’s solution up-front.
“Invenergy is pleased to support this next class of startups entering mHUB’s Climate and EnergyTech accelerator program,” said Maggie Pakula, Invenergy’s executive vice president of strategy. “Shaped by our own intrinsic entrepreneurism, Invenergy continues to advance new clean energy technologies, and we look forward to serving as a guiding force for those innovators bringing the next sustainable solutions to market.”
"If we are going to solve the climate crisis and keep energy reliable and affordable, we have to transform how we produce and use energy through innovation,” said Colleen Wright, vice president of Corporate Strategy for Constellation. “That is why Constellation is excited to support mHUB’s program to bring transformative ideas to market and accelerate the transition to a clean energy economy."
In 2021, the 2025 Clean Tech Economy Coalition (CTEC), led by mHUB, was selected as one of the 60 Build Back Better Regional Challenge finalists from a pool of 529 applicants for a $500,000 grant to further develop coalition programs for the clean energy transition. The U.S. Department of Energy (DOE) has previously recognized mHUB as one of the nation’s most innovative and impactful incubators for energy-related technology and entrepreneurship, granting two EPIC prize grants to energize the national energy innovation ecosystem.
Through CTEC, mHUB has established active partnerships with Chain Reaction Innovations at Argonne National Laboratory, Innovation Crossroads at Oak Ridge National Laboratory, Evergreen Climate Innovations, Centrepolis Accelerator at Lawrence Technological University, and Spark Innovation Center.
mHUB’s recent announcement of its $50M acquisition and build-out of a historic manufacturing facility on the city’s Near West Side noted that this expansion will help accelerate the commercialization of new tech solutions in areas such as climate and energytech. It will also initiate one of the primary investments of the CTEC alliance that is focused on commercializing energy infrastructure, grid modernization, and long-energy storage technologies.
Through the mHUB Accelerator, startups receive capital through a $15M Product Impact Fund with additional investment opportunities from the program’s partners. Teams benefit from access to mHUB’s over $6M of prototyping equipment and manufacturing resources in addition to a deep network of mentors, investors, product development engineers, supply chain partners, and industry.
The 2023 Climate and EnergyTech cohort will be led by Executive Director Thierry Van Landegem, who joined mHUB in 2020 with 25+ years of innovation expertise including leadership roles at Bell Labs and Alcatel. Van Landegem led the organization’s first accelerator cohort on Smart Manufacturing, as well as last year’s Climate and EnergyTech cohort.
The program will commence in Chicago in Q3 of this year. The program will end with a Demo Day, a product showcase and pitch event for accelerator teams, which has historically attracted over 350 investors and strategic partners.
More information about the mHUB Climate and EnergyTech Accelerator can be found at https://www.mhubchicago.com/climatetech-energy-tech-accelerator.
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About mHUB
mHUB is a leading independent hardtech and manufacturing innovation center that exists to convene the entrepreneurial ecosystem around physical product innovation to ensure that the manufacturing industry continues to accelerate, grow and thrive. The mHUB community includes over 428 active and alumni startups and small businesses supported by a deep talent pool of product designers and developers, entrepreneurs, engineers and manufacturers, corporate leaders, industry experts, mentors and investors. mHUB provides a hyper-resourced environment to entrepreneurs with the goal of commercializing new hardtech innovation that will lead to new businesses, intellectual property, investment, revenue and job creation. Since launching in 2017, the mHUB community has generated more than $1.14B in revenue, launched more than 1,502 products, hired more than 5,193 employees, and raised over $1.49B in capital.
Learn more at www.mhubchicago.com.
About Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago, and it has regional development offices in the United States, Canada, Mexico, Spain, Japan, Poland, and Scotland.
Invenergy and its affiliated companies have successfully developed more than 30,000 megawatts of projects that are in operation, construction or contracted, including wind, solar, transmission infrastructure and natural gas power generation and advanced energy storage projects.
Learn about Invenergy at Invenergy.com.
About Constellation
Headquartered in Baltimore, Constellation Energy Corporation (Nasdaq: CEG) is the nation’s largest producer of clean, carbon-free energy and a leading supplier of energy products and services to businesses, homes, community aggregations and public sector customers across the continental United States, including three fourths of Fortune 100 companies. With annual output that is nearly 90% carbon-free, our hydro, wind and solar facilities paired with the nation’s largest nuclear fleet have the generating capacity to power the equivalent of 15 million homes, providing around 10% of the nation’s clean energy. We are further accelerating the nation’s transition to a carbon-free future by helping our customers reach their sustainability goals, setting our own ambitious goal of achieving 100% carbon-free generation by 2040, and by investing in promising emerging technologies to eliminate carbon emissions across all sectors of the economy.
Learn about Constellation at www.constellation.com.
About Evergreen Climate Innovations
Evergreen Climate Innovations, formerly Clean Energy Trust, provides catalytic capital and support to entrepreneurs and startups that bring impactful climate technologies to market. The nonprofit pioneered its 501vc® Investment Fund to align philanthropic and corporate contributions to deliver environmental, economic, and social impact. Evergreen advances and expands access to innovation across the Greater Midwest and cultivates an ecosystem of investors, donors, and collaborators. For over a decade, Evergreen Climate Innovations has invested in startups that have raised $41 for every $1 invested.
Learn about Evergreen Climate Innovations at www.evergreeninno.org.
About Perkins Coie
Perkins Coie is a leading international law firm that is known for providing high value, strategic solutions and extraordinary client service on matters vital to our clients' success. With more than 1,200 attorneys in offices across the United States and Asia, we provide a full array of corporate, commercial litigation, intellectual property, and regulatory legal advice to a broad range of clients, including many of the world's most innovative companies and industry leaders as well as public and not-for-profit organizations.
- Learn about Perkins Coie at www.perkinscoie.com
