Leading trading and investment company with commitments to society and sustainability partners with cleantech startup incubator
SOMERVILLE, Mass., March 5, 2020 /PRNewswire/ — Greentown Labs, the largest cleantech incubator in North America, today announced Sumitomo Corporation of Americas (SCOA) as its newest Gigawatt-level Partner. The largest subsidiary of Sumitomo Corporation which works in 66 countries with 133 offices across the globe, SCOA is a pioneer in the fields of infrastructure, transportation, metal products, energy, and more.
As Sumitomo Corporation enters into its second century, it is looking to the future with eyes on innovation and sustainable solutions. Sumitomo Corporation of Americas has made numerous investments in and partnerships with cleantech startups in recent years as part of that mission. Today, the company’s extensive portfolio includes CASE (Connected, Autonomous, Sharing, and Electric) related mobility investments as well as wind, solar, and geothermal infrastructure projects.
“We are excited to partner with the Greentown Labs community, which is sure to accelerate our company’s cleantech goals,” said Jun Okawara, General Manager, Business Development Group at Sumitomo Corporation of Americas. “SCOA brings decades of experience and relationships within a broad range of industries, and we believe this will aid the Greentown community in their proof-of-concept activities and through introductions into various markets. Our hope is to help fuel innovation so that big ideas can become practical, real-life solutions for the future.”
Sumitomo Corporation of Americas’ business leaders will directly engage with the Greentown startup community via a curated startup pitch day with vetted startups from the region; private sector pitch days that focus on specific business, technological, and innovation trends within emerging technology sectors; office hours with Greentown’s resident startups; and more.
“Sumitomo Corporation of Americas has deep expertise in many of the key sectors Greentown Labs’ startups are working in which will provide valuable insights and guidance to our entrepreneurs as they iterate and advance their technologies,” said Emily Reichert, CEO of Greentown Labs. “We look forward to supporting and fostering many great partnerships among our early-stage companies and Sumitomo Corporation of Americas!”
The 100,000 sq. ft. Greentown Labs campus provides startups with a robust network of strategic partners, prototyping lab space, a wet lab, a machine shop, an electronics shop, office space for more than 500 entrepreneurs, a 600-person event space, and a variety of flexible membership options.
About Greentown Labs
Greentown Labs is a community of bold, passionate entrepreneurs creating solutions for today’s biggest climate and environmental challenges. Located in Somerville, Massachusetts, and founded in 2011, the Greentown Labs Global Center for Cleantech Innovation is the largest cleantech incubator in North America, operating a 100,000 sq. ft. campus comprised of prototyping and wet lab space, shared office space, a machine shop, electronics lab, and a curated suite of programs and resources. Greentown Labs is home to more than 100 startups and has supported more than 250 startups since its inception. These startups have collectively created more than 6,500 direct jobs and have raised more than $750 million in funding. The incubator’s mission is to provide entrepreneurs with the community, resources, and space they need to thrive. For more information, please visit www.greentownlabs.com or on Twitter, Facebook, or LinkedIn.
About Sumitomo Corporation of Americas
Established in 1952 and headquartered in New York City, Sumitomo Corporation of Americas (SCOA) has 8 offices in major U.S. cities. SCOA is the largest subsidiary of Sumitomo Corporation, one of the world’s leading traders of goods and services. As an integrated business enterprise, Sumitomo Corporation has emerged as a major organizer of multinational projects, an expediter of ideas, an important international investor and financier, and a powerful force for the distribution of products and global communications through its network of offices worldwide. The company’s core business groups include Metal Products, Transportation & Construction Systems, Infrastructure, Media & Digital, Living Related and Real Estate, and Mineral Resources, Energy, Chemical & Electronics. For more information visit www.sumitomocorp.com
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