September 29, 2021

WeaveGrid named to Elemental Excelerator's Cohort X

WeaveGrid named to Elemental Excelerator's Cohort X

Elemental Excelerator, the global nonprofit that designed the accelerator model for climate technologies, today announced the 19 companies selected for Cohort X. This is Elemental’s tenth group of investments, taking its portfolio to 136 companies and 20 exits

As one of the companies in Cohort X, WeaveGrid will receive funding to deploy and scale our technology with an Elemental corporate partner on a transformative project to further transportation electrification. WeaveGrid was chosen as part of the “electrify and decarbonize everything” issue area, along with Dimensional Energy, EnergyRM, and SHYFT.

According to Elemental, “we already have many of the tools we need to push fossil fuels out of the system and reduce emissions at a rapid pace. Rapid decarbonization through electrification can eliminate 70-80% of emissions by 2035 with the technologies we have today. It's simply a matter of enabling and orchestrating their widespread deployment. These companies help us do just that.”

WeaveGrid solves one of the most critical emerging electrification challenges — connecting a growing wave of electric vehicles to a grid that was not designed to support the high power needs of widespread charging. WeaveGrid helps utilities monitor and manage EV charging, transforming EVs into flexible assets that support grid resilience and renewable energy growth. 

Elemental’s approach to investing in startups is unique. An important part of its due diligence process is gathering community wisdom from nonprofits, community-based organizations, and government agencies before making funding decisions. “What we realized is that while technology has half the solution, the community brings the other half. If we invest with this knowledge, we will be able to decarbonize faster, center equitable solutions, and be better investors,” said Dawn Lippert, Elemental founder and CEO. “Our goal is to back the companies that address climate change today and over the next 10 years, giving policymakers and corporations the confidence to act on climate now.” 

About Elemental Excelerator 

Elemental Excelerator is on a mission to redesign the systems at the root of climate change. Elemental fills two gaps that are fundamental to addressing climate change with the urgency required by funding first-of-a-kind projects for climate technologies in real communities and embedding equity and access into everything climate-related. Since launching in 2009, Elemental has invested in over 130 growth-stage companies and celebrated more than 20 exits, funded more than 70 technology projects, and built a platform for scaling equitable, market-driven solutions to climate change. 

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