Behind Wells Fargo's Pioneering Cleantech Programme

The Wells Fargo Innovation Incubator (IN²), has inaugurated its Scalable Tech Track programme, welcoming 10 distinguished companies to partake in its pioneering initiative.

With a generous US$50m investment, this initiative aims to fast-track cleantech solutions by fostering collaboration among organisations to tackle climate change head-on.

The Wells Fargo Foundation provides the financial backing, with the US Department of Energy’s National Renewable Energy Laboratory (NREL) handling the administrative reins.

Highlighting the urgency of the initiative, Sarah Derdowski, IN² Program Manager at NREL, said: “Organisations are under increasing pressure to decarbonise, facing significant costs and reputational risks if they fail to act.”

“Despite these pressures, many organisations still aren’t adopting clean technologies fast enough. The new Scalable Tech Track is designed to help organisations accelerate cleantech adoption and collaborate in an effort to address urgent climate challenges together.”

Well Fargo provides a blueprint for innovation

Founded in 2014 by Wells Fargo and NREL, the IN² initiative has been at the forefront of promoting energy-efficient solutions for commercial buildings, with later expansions covering sustainable agriculture and affordable housing.

John Moon, SVP and Sustainable Philanthropy Leader at Wells Fargo, praises the initiative.

“Wells Fargo is proud to support the expansion of the IN² program to advance cleantech adoption,” he said. “We’ve learned firsthand how valuable the types of pilot programmes that these organisations will undertake are by working with a number of start-ups in the IN² portfolio. 

“The participating organisations will receive actionable steps and knowledge from the experts at NREL to support them as sustainability leaders in their respective industries.”

The Scalable Tech Track programme partners with Overlay Build, focusing on overcoming market barriers to cleantech adoption, thereby aiming for a larger, more impactful reach.

Empowering technology through education and innovation

Centred around workshops, this programme educates organisations on the integration of new technologies via digitisation and change management, culminating in a competition where participants could secure up to US$250,000 for pilot projects with IN² vetted start-ups.

Currently, cleantech start-ups with significant traction and readiness for large-scale deployment are invited to apply.

Scalable Tech Track: The participants

The programme has selected 10 forward-thinking companies. They are:

• Avangrid: Pioneering in technological innovation and culture
• CBRE: Aiming to streamline and decarbonise real estate portfolios
• Coconino County: Developing comprehensive decarbonisation plans for schools and districts in north central Arizona
• Digital Realty: Focused on reducing power consumption whilst expanding sustainably
• Galvanize Climate Solutions: An innovative sustainable real estate platform investing in carbon footprint reduction
• Intermountain Health: Committed to delivering high-quality, affordable healthcare with sustainability goals
• Prime Data Centers: Advocates for sustainable, technological advancements
• Schneider Electric: Electrification and digitalisation leaders aiming for decarbonisation
• Southern Company: Providing energy solutions with a commitment to net-zero emissions by 2050
• The University of Colorado Boulder: Strives towards a carbon-neutral campus by 2050

Sarah Martinez, Vice President for ESG at Prime Data Centers, comments, “It's exciting to work with these other organisations, committed to advancing technology for a better tomorrow.”

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