"By advancing low-carbon clean energy paired with energy savings, we help customers drive down their operating costs as well as their carbon footprint. This initiative will assist Dynamhex in targeting climate action and measuring our impact.” Dr. Sunny Sanwar, CEO.
KANSAS CITY, Mo. (PRWEB) July 16, 2020
Dynamhex was chosen as part of a Fortune 100 $20 million climate change investment program. In September 2019, the Exelon Foundation launched a new $20 million Climate Change Investment Initiative (2c2i) to cultivate startups working on new technologies to reduce greenhouse gas emissions and mitigate climate change in their service areas.
The initiative marks the Exelon Foundation’s most recent effort to support programs that benefit the environment and add to Exelon Corporation’s continuing goal of creating a clean, next-generation energy grid. Announced on Exelon’s first day of NASDAQ trading, this initiative is the latest innovative impact investment approach to generate a measurable, beneficial impact on climate change.
Dynamhex is among the first startups selected for the investment and will be leveraging the expertise and counsel of Exelon’s Exelorate Growth and Constellation Technology Ventures innovation programs. The Exelon Foundation will contribute $10 million over the next 10 years to fund the initiative, which will focus on clean energy and environmental technologies with potential for wide-scale commercialization. Exelon Corporation will match that grant with up to a $10 million in-kind investment of pro-bono services, including mentoring entrepreneurs on ways to access other sources of capital, structure business plans, allocate financial resources, and meet regulatory requirements.
Founded in 2018 by Dr. Sunny Sanwar, Dynamhex is an enterprise software company which developed the proprietary “Decarbonization as a Service” solution to help customers respond to ever-increasing concerns of climate risks across cities, organizations, and communities. Dynamhex provides the software layer that facilitates the crucial collaboration between municipalities, businesses and stakeholders on projects such as electrification and low-carbon technology deployment. As the world looks to transition its energy use, the Dynamhex core product helps customers manage climate change targets and complex energy transition plans with data-backed, actionable, and cost-effective solutions.
“Our partnership with Exelon Foundation will help scale Dynamhex’s solutions in the wider footprint of Exelon Corporation. By advancing low-carbon clean energy paired with energy savings, we help customers drive down their operating costs as well as their carbon footprint from buildings, transportation and industry. The 2c2i initiative will assist Dynamhex in taking the next step to help target climate action and measure impact more broadly on the East Coast.” said Dr. Sunny Sanwar, CEO, who appears on the 2019 Forbes 30 under 30 list.
”The Midwest generally can be a difficult place for startups. Thankfully, we have been supported by programs like Digital Sandbox, Missouri SBDC, KC Collective, OHUB KC, and innovative leaders like Mayor Kelly with our Metro Climate Coalition as well as the National Resources Defense Council - all of whom have paved the way for Dynamhex and great things to come,” said Brianna Tiley, Director of Marketing. Tiley continued, “Though early in our commercialization process, we are inspired by those with the foresight to see the impact of what we are building.
Dynamhex recently graduated from the 6th Cohort of the The Joules Accelerator program. For the past 90 days, Dynamhex has worked with key partners in identifying commercialization outcomes in the Carolinas, including Duke Energy, Research Triangle Cleantech Cluster and its Members, the Cities of Charlotte, Raleigh, Durham, Greensboro, and Asheville, University of North Carolina system, Duke University, Ernst &Young, Honeywell, Lowe’s, Bank of America, Microsoft, and more. To date, all the cohort companies from the accelerator have raised more than $200MM combined.
Dynamhex was also accepted to Microsoft’s Social Entrepreneurship Startup program and received free access to Microsoft cloud technologies, including $120,000 in Azure credits, along with technical support and guidance. Additionally, the program includes a dedicated Microsoft program manager to help market and sell solutions, as well as connect to large commercial organizations and nongovernmental organizations that are potential customers. Ventures focused on sustainability, accessibility, and skills and employability will also be eligible for grants from Microsoft Philanthropies.
"At Microsoft, we are deeply inspired by the commitment of these social entrepreneurs, who are focusing their passion for positive change on improving human health and the environment, advancing social and economic equity, and much more. But these are huge, complicated problems and far too large for any single organization to hope to solve alone. So to empower social entrepreneurs, Microsoft is launching a new Global Social Entrepreneurship program to offer qualified startups access to technology, education, customers and grants. Our global initiative is designed to help social enterprise startups build and scale their companies to do good globally." said Jean-Philippe Courtois, the EVP and President of Marketing & Operations, Microsoft Global Sales. Microsoft announced this year that they will be carbon negative by 2030.
Dynamhex is a data analytics and enterprise software-as-a-service provider that helps customers target climate action and measure impact. Dynamhex’s technology platform instantly measures each city or corporation’s emission footprint and estimates reduction strategies, by allowing emission targets across cities to be met by different city stakeholders and community members, collaboratively. The platform reduces the main barrier to access and implementation of clean energy, the deployment of which reduces greenhouse gas emissions. The product matches decision makers and communities with personalized, practical and visually measurable ways to lower costs while addressing climate change while building community capacity to mitigation strategies, such as fair access of clean energy to low income areas and building. By aggregating time series data, the software visualizes organizational-level and regional-level energy usage and emission performance in a timely fight against climate change.
About Exelon Corporation
Exelon Corporation is a Fortune 100 energy company with the largest number of electricity and natural gas customers in the U.S. Exelon does business in 48 states, the District of Columbia and Canada and had 2019 revenue of $34 billion. Exelon serves approximately 10 million customers in Delaware, the District of Columbia, Illinois, Maryland, New Jersey and Pennsylvania through its Atlantic City Electric, BGE, ComEd, Delmarva Power, PECO and Pepco subsidiaries. Exelon is one of the largest competitive U.S. power generators, with more than 31,000 megawatts of nuclear, gas, wind, solar and hydroelectric generating capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. The company’s Constellation business unit provides energy products and services to approximately 2 million residential, public sector and business customers, including three fourths of the Fortune 100.