Fellows mentioned in this story: Dawn Lippert

From TechCrunch:

Elemental Excelerator, a nonprofit investor in climate-tech startups including BlocPower and ChargerHelp, says it’s “doubling down” in the wake of Silicon Valley Bank‘s collapse.

Elemental intends to pump $43 million more into climate-tech startups — $13 million of which will be set aside for its twelfth accelerator program, beginning in October. The investor hasn’t secured all of the money yet; it is “in the process of raising the funds,” a spokesperson told TechCrunch.

In a nod to both the VC slowdown and the run on SVB, Elemental said it intends for the cash to “fill funding gaps” and “accelerate climate solutions with deep community impact.” Climate tech evaded the funding drought of 2022, but the fall of SVB seems to have rattled the sector, given the bank’s longtime work with climate tech startups.

Continue reading at techcrunch.com.