The Fund will engage directly with the incubator’s climatetech startups to accelerate the transition to a low-carbon economy
Somerville, Mass., July 21, 2021 — Greentown Labs, the largest climatetech startup incubator in North America, today announced Amazon’s Climate Pledge Fund has joined its growing network of industry-leading organizations committed to climate action and innovation. The Climate Pledge Fund invests in transformative technologies that will accelerate Amazon and other companies’ abilities to achieve the goals set out in The Climate Pledge.
Amazon co-founded The Climate Pledge with Global Optimism in 2019 and became the first company to sign the Pledge, which calls on signatories to reach net zero-carbon emissions by 2040—10 years ahead of the Paris Agreement. To date, more than 100 corporate signatories have signed on to the Pledge in support of working to decarbonize the economy.
“Amazon created The Climate Pledge Fund to support the development of technologies and services that will enable us and other companies to reach net-zero carbon by 2040,” said Matt Peterson, Director of new initiatives and corporate development for Amazon. “We’re excited to work with Greentown Labs to further engage with startups and help accelerate the transition to a low-carbon economy.”
The Climate Pledge Fund, which was launched in June 2020 with an initial $2 billion in funding, works with companies across many of the same climatetech sectors that Greentown’s community of startups are working to innovate; these include transportation, manufacturing, electricity, agtech, circularity, and building technologies.
“Few organizations have the potential to make as meaningful of an impact on tackling the climate crisis as Amazon,” said Dr. Emily Reichert, CEO of Greentown Labs. “That’s why we’re excited to work with The Climate Pledge Fund to foster meaningful relationships between Amazon and our entrepreneurs developing climatetech solutions. Collaborating with corporates plays a critical role in scaling startups’ technologies, and we’re optimistic this engagement will help accelerate the energy transition.”
Through its partnership with Greentown, Amazon’s Climate Pledge Fund will also obtain a seat on Greentown’s Advisory Board which provides strategic guidance and input to the incubator. Ken Alston will serve on the Advisory Board for 2021.
About Greentown Labs
Greentown Labs is a community of climate action pioneers working to design a more sustainable world. As the largest climatetech startup incubator in North America, Greentown Labs brings together startups, corporates, investors, policymakers, and many others with a focus on scaling climate solutions. Driven by the mission of providing startups the resources, knowledge, connections, and equipment they need to thrive, Greentown Labs offers lab space, shared office space, a machine shop, an electronics lab, software and business resources, and a large network of corporate customers, investors, and more. With its headquarters in Somerville, Mass. and a recently opened incubator in Houston, Texas, Greentown Labs is home to more than 180 startups and has supported more than 400 startups since the incubator’s founding in 2011. These startups have collectively created more than 6,500 direct jobs and have raised more than $1.2 billion in funding. For more information, visit www.greentownlabs.com or Twitter, Facebook, and LinkedIn.
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