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Empowering Innovation and Sustainability: Exelon’s investments in emerging companies are driving critical clean energy and climate solutions
Exelon Corporation (Nasdaq: EXC), the nation’s largest utility company, has announced the latest companies to receive venture capital investments as part of Exelon’s Climate Change Investment Initiative (2c2i). These companies are leading the way with products, services and technologies that are focused on reversing or mitigating the damage done by climate change, while also working to improve the communities where they operate.
Companies Selected to Receive Investments in 2024:
- Metal Light (Newark, New Jersey): Metal Light is utilizing the earth’s most abundant materials as circular fuels to allow for clean and sustainable mobile power generation. We seek to replace diesel generators with a quiet metal-air generator that uses low-cost metals to provide power for maritime, freight, and mobile power applications at more than twice the energy density of Li-ion batteries.
- ReVert Technologies (Brunswick, Maine): ReVert is a technology company focused on energy savings. ReVert’s enterprise software platform leverages smart IoT power adapters, utility grid pricing analytics and machine learning to help companies manage large networks of appliances, saving up to 30% on their electricity bills.
- Station A (San Francisco, California): Station A is a marketplace reimagining how clean energy is bought and sold. We help customers decarbonize buildings at speed and scale by substantially lowering the cost to evaluate and transact.
- Eion (Princeton, New Jersey): Eion provides permanent and verifiable carbon removal from the atmosphere by placing special silicate rocks on agricultural fields, using a naturally occurring process called enhanced rock weathering. As the silicate minerals weather, they remove carbon from the atmosphere and alkalize the soil, simultaneously improving soil health and reducing GHG emissions.
⚡️ Exelon Receives EPRI Technology Transfer Awards for Innovative Solutions Shaping the Future of Energy
Three project teams led by Exelon (Nasdaq: EXC) engineers and innovators have been selected to receive Electric Power Research Institute’s (EPRI) 2024 Technology Transfer Awards. These prestigious awards recognize projects that have incorporated EPRI’s cutting-edge research to help accelerate the adoption of sustainable energy solutions.
DER Network Gateways for Control Integration of Smart Inverters: Electric companies are deploying distributed energy resources management systems (DERMS) to make distributed energy resources (DER) an integral part of system operations. EPRI and a group of 10 companies worked together to identify the functions of DER gateways. The team developed a DER Gateway Requirements Document, which lists specifications and applications for a DER gateway, including hardware platform, operating system, firmware, hardware security, environmental, communication interfaces, and functional and cyber security.
Fleet Electrification Planning and Assessment for New Load: A group of companies, together with EPRI, collaborated on a project to better understand the future needs of medium-duty and heavy-duty (MDHD) EVs and the electrification opportunity of distribution feeders. The challenge electric companies face in planning for this new load is not region- or state-specific, especially when considering national fleet operators. The study focused on how to characterize MDHD EV demand and whether the grid is ready for this load. Results helped identify areas where under-utilized assets could be leveraged to incentivize early electrification adopters and to prioritize infrastructure investments in areas with limited capacity.
RF Monitoring and Wind Mitigation in Fiber Optic Supply Cables: Exelon (ComEd) sought to understand and quantify the effects of sustained and gusting wind on their overhead fiber system, as well as the effectiveness of different wind mitigation methods. Radio frequency sensors measured displacement and frequency of the movement on the fiber spans, and the weather stations collected data such as temperature, wind speed and direction, humidity, and precipitation. The study provided conclusive data of the effectiveness of each wind mitigation method. Over months of monitoring, the study found that air flow spoilers were effective at limiting maximum conductor displacement. Going forward, ComEd will standardize these wind diverters knowing they provide a measurable benefit preventing severe conductor galloping.