Partnership establishes strong ties between major utility provider and cleantech entrepreneurs
Somerville, Mass., June 16, 2015 – ENGIE, a major global energy player, has announced its sponsorship of Greentown Labs, the nation’s largest cleantech incubator. Working with ENGIE will enable Greentown Labs to further its goal of helping entrepreneurs access the equipment, services, education, and network they need to solve the world’s biggest challenges.
Greentown Labs is a community that helps cleantech and energy-focused startups with the resources they need to move from prototyping to first customers. With more than 40 member companies on-site and a global community of cleantech and energy entrepreneurs, Greentown Labs provides the education, mentorship and guidance that entrepreneurs need to rapidly grow their networks and companies.
ENGIE has been a well-established utility provider for more than 150 years and understands the energy industry is undergoing a profound and lasting transformation. With this evolution in mind, ENGIE is committed to leading Europe’s energy transition, specifically through a variety of innovative initiatives and partnerships.
ENGIE New Ventures, a €100 million investment fund, supports innovative start-ups. In the U.S., it has already carried out a $7.2 million USD investment in Tendril, a Colorado-based company, developing an open cloud-based energy service management software platform. Working with a network of partnering incubators, the ENGIE also launched an incubation process for employee projects, supporting approximately ten projects per year.
“The United States is a key country for innovation in the cleantech industry,” said Isabelle Kocher, Deputy CEO and chief operating officer of ENGIE. “This partnership will help us access a pool of talent that could help us reach our goals to improve production and increase energy savings opportunities for our customers.”
Among other things, the partnership will allow ENGIE to meet new startups during its “ENGIE Startup Days,” a special event planned for exploring potential investments and strategic partnerships.
“Our sponsors are essential partners for Greentown Labs, not only because of the financial support they offer, but also through the resources, knowledge and expertise they bring to the table. This support is key to helping our companies grow,” said Emily Reichert, CEO of Greentown Labs.
Greentown Labs is in a former manufacturing facility located in a business park with other innovative businesses that many have dubbed “Innovation Row.” It is home to 33,000 sq. ft. of prototyping labs and co-located office space and a shared machine and electronics shop. A full list of Greentown Labs sponsors is available at http://www.greentownlabs.com.
About ENGIE
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, combating climate change and optimizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services. ENGIE employs 152,900 people worldwide and achieved revenues of EUR 74.7 billion in 2014 (81.9 billion USD). The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe, ASPI Eurozone, Euronext Vigeo Eurozone 120, Vigeo World 120, Vigeo Europe 120 and Vigeo France 20.
ENGIE Press Contact
Tel.: +33 (0)1 44 22 24 35
E-Mail: engiepress@engie.com
Twitter: @gdfsuez
About Greentown Labs
Founded in 2011, Greentown Labs is a community of bold, passionate entrepreneurs creating game-changing energy technologies that transform the way we live, work, and play. Located in Somerville, MA, Greentown Labs is the largest cleantech incubator in the nation, operating a 33,000 sq. ft. facility that enables the entrepreneurs of 40 companies to solve today’s biggest energy and environmental problems. Greentown Labs hosts a constant stream of events and programs for the cleantech community and tours more than 5,000 visitors from around the world each year. Its mission is to enable a vibrant community of entrepreneurs to realize their visions by providing access to the space, resources, and funding needed to thrive. For more information, visit www.greentownlabs.com, or find us on Twitter, Facebook, or LinkedIn.
Greentown Labs Press Contact
Chuck Tanowitz or Julia Bucchianeri
HB Agency
781-518-0053
Greentown@hbagency.com