Leap is among a select group of startups now contributing to Elemental's "Earthshot" to address critical challenges in energy, food & agriculture, water, and mobility
SAN FRANCISCO, October 7, 2019 — Elemental Excelerator, a global clean technology accelerator, selected Leap to join its portfolio of EarthShot companies united by a vision for collective, collaborative, changemaking solutions that help ensure that communities and the environment can thrive into the future.
Over 800 applicants from 66 countries applied for the program, and only 17 will join the Elemental Excelerator cohort. These companies, chosen for improving energy, water, transportation, and agriculture systems will receive a collective $6 million in funding.
"Our eighth cohort brings us to 99 funded startups deploying solutions with eager and committed global and community partners," said Elemental Excelerator CEO Dawn Lippert. "These companies have technologies and business models that are both ambitious and realistic, ranging from optimizing transportation systems to empowering individuals to participate in the clean energy marketplace. We are encouraged that so many talented entrepreneurs applied to participate in the accelerator, and believe more than ever that startups will be at the heart of fighting climate change and solving the most urgent environmental issues of our time."
Leap was selected for the Grid & Efficiency category for its ability to help California's agricultural customers to participate in - and earn revenue from - California's electricity markets. Farm equipment, like irrigation systems and cold storage facilities, and distributed energy resources like solar-plus-storage systems, can become active energy market assets through Leap's marketplace for grid flexibility. Leap enables partners to earn valuable revenue, reduce carbon emissions, and increase grid resiliency.
"We're excited to support a new wave of companies focused on helping people and businesses in all communities take control of their energy use," said Nneka Uzoh, Elemental Excelerator's Director of Energy Innovation. "Clean technology and climate change are often talked about in a lofty or abstract way, but these startups put the power of change into the hands of everyday people, and help them get value from their existing devices and energy assets."
"Joining the extraordinary group of companies backed by Elemental Excelerator means a lot for our growth and the expansion of the Leap Exchange," said Thomas Folker, Leap's co-founder and CEO. "Elemental has a storied history of backing significant names in the clean energy space, and we're honored to be alongside them. Their support improves our ability to offer dynamic demand response solutions to the regions that produce our food and the communities within them."
Leap enables real-time automated trading on energy markets. Its Distributed Energy eXchange (DEX) platform grants generation assets and energy resources including battery energy storage, electric vehicles and HVAC systems access to global demand response programs, renewable energy certificate programs and real-time pricing through a single API.
Leap's open, hardware-agnostic platform turns the operators of energy resources of any size and type into autonomous smart energy traders, providing revenue to participants while unlocking the benefits of a truly resilient and transactive grid. Leap is a privately held company with offices in San Francisco and the Netherlands.
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