Prospect Silicon Valley and Bank of America Partnership Continues

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Renewed Support for the Advancement of Cleantech Adoption

By investing in a clean energy future, we can help improve important quality of life needs,” said Raquel González, Silicon Valley market president, Bank of America.

Prospect Silicon Valley announced the continued support from key sustainability strategic partner, Bank of America. Their support allows for the advancement of cleantech innovation and initiatives focusing on economic development and underserved communities.  

In its eighth year of support for ProspectSV (and its former Bay Area Climate Collaborative program) Bank of America has helped to accelerate regional programs that yield clean energy solutions. One such program is InnovateNetZero, a project that deploys new technologies to retrofit a low-income multi-family apartment building in San Francisco into a Zero Net Energy building. ProspectSV is also collaborating with the Valley Transportation Authority (VTA) on their Vehicle-to-Grid pilot that integrates electric buses and grid services to the VTA service area, including underserved communities. It is through these programs that ProspectSV has been able to increase economic development in sustainability.

As a cleantech incubator, Prospect Silicon Valley mentors a variety of clients in the mobility, energy and built environment sectors. The nonprofit organization works closely with startups to offer commercialization support ranging from pilot programs to exclusive networking opportunities. ProspectSV also organizes an annual Innovation & Impact Symposium which brings together leaders from the corporate, government, public, and research communities to discuss the current trends of the industry.

“Through partnerships like ours with ProspectSV, we are working to accelerate the transition to a lower-carbon economy. By investing in a clean energy future, we can help improve important quality of life needs like housing, transportation and job creation that leads to economic sustainability in our communities,” said Raquel González, Silicon Valley market president, Bank of America.
Bank of America’s work with Prospect Silicon Valley is part of its $125 Billion Environmental Business Initiative addressing climate change through finance and investment in renewable and clean energy solution. A third party review of the environmental and economic benefits of this initiative was recently published in “Financing for a sustainable future: Estimating the environmental benefits of Bank of America’s Environmental Business Initiative.”

“Bank of America’s support continues to play a vital role in the progress of clean energy initiatives within our organization,” said Rafael Reyes, VP Community Initiatives at ProspectSV. “We are proud to be continuing our partnership and aspire to reach the same sustainability goals.”

About Prospect Silicon Valley
ProspectSV is a nonprofit urbantech innovation hub focused on solutions for smarter, cleaner communities. We bring government, corporations and academia together with start-ups, product teams and expert staff to accelerate innovations in transportation, energy and the built environment. ProspectSV provides a full spectrum of commercialization support including market and technical insight, connections to partners and investors, pilot opportunities as well as access to a $12 million, 23,000 sq. ft. Technology Demonstration Center with working and industrial space, lab facilities and specialized equipment. We have provided commercialization support to more than 25 startups that have raised over $145M in follow-on funding and created hundreds of jobs. In partnership with state and local governments, ProspectSV demonstrates and scales leading edge solutions. With projects in over 50 cities, leveraging over $50 million in funding and financing, and with more than 25 corporate sponsors, ProspectSV is the only organization with the ability to both prove and apply solutions for next generation cities.

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About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small-and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.
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Hilary Davidson
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