On Monday, October 3 New York Governor Andrew Cuomo announced CleanCapital as one of the 16 finalists for 43North, the world's largest business idea competition. CleanCapital will now compete in front of a panel of expert judges in Buffalo to win 43North's top cash prize of $1 million.
"CleanCapital is excited to bring our innovative business model to Buffalo and introduce 43North to the future of clean energy finance," Jon Powers, Buffalo native and Chairman and Co-Founder of CleanCapital said. "Cleantech and fintech are two rapidly growing industries, and CleanCapital's unique approach merges these two markets while accelerating clean energy deployment and providing great returns for investors."
"43North continues to draw some of the world's best, brightest and most innovative entrepreneurs to Buffalo—helping to remake the city and revitalize Western New York's economy—and the best is yet to come," Governor Cuomo said. "I look forward to the third year of this competition and the additional excitement and momentum it provides to a city that continues to be on the move."
Earlier this summer CleanCapital announced a $21 million deal backed by John Hancock. Just last week they launched the ability for accredited investors to invest in a diversified solar portfolio directly via CleanCapital.com. An award through 43North would allow for an accelerated deployment of their transformational investment platform.
Historically, clean energy finance has been limited to institutional investors, large banks, private equity firms, and tax equity investors. CleanCapital changes that, and allows more people to have access to these lucrative investments. The CleanCapital strategy is about long term investing and maximizing existing cash flowing assets.
CleanCapital's investment platform identifies, screens and manages clean energy projects for investors. The team manages the entire process—from sourcing projects to underwriting and evaluating each project. Once the project is onboarded, CleanCapital actively monitors the investment in real-time and distributes proceeds to investors. By eliminating typical transaction barriers and making capital more accessible, they're accelerating clean energy growth worldwide.
CleanCapital is a financial technology company that makes it easy to invest in clean energy. CleanCapital allows accredited individuals—including institutional investors, family offices, and investment funds—to invest in secure and diversified clean energy projects. Investors can monitor investments in real-time using our seamless online platform. We were founded in 2015 and are headquartered in Washington, DC. Stay up to date on the evolving market of clean energy finance by signing up on our website, following us on Twitter, liking us on Facebook or connecting via LinkedIn.
43North is the $5 million startup competition, awarding cash prizes to some of the best entrepreneurs and startups from around the world. 43North winners also receive free incubator space in Buffalo for one year, guidance from mentors in related fields, and access to other business incentive programs such as START-UP NY. 43North operates through the support of Governor Andrew Cuomo's Buffalo Billion initiative and grants of $6 million from the New York Power Authority and $1 million from Empire State Development. Additional support comes from National Grid and several other sponsors. For a full list of sponsors and more information about 43North, visit www.43north.org.