Five Years in Five Charts
From our first cohort in 2013 to our sixth in 2018, here's a snapshot of where Elemental Excelerator is today.
Our portfolio companies are growing significantly - and getting acquired.
The total value of our projects has climbed to $35M.
$35 milion total value of EEx projects
Our partners' commercial reach has tripled in 2 years.
2x average growth in commercial potential represented by EEx partners
Our work creates job opportunities.
1000+ jobs supported by EEx portfolio companies
Our pipeline has grown to 1099 companies from around the globe.
Meet our startups.
We are taking a systems approach to building a multi-stage portfolio.
Coming out of the Hawaii Clean Energy Initiative, a model for states pursuing an aggressive transition to renewable energy, the U.S. Department of Energy set aside funding for innovation. This became the seed funding for Elemental Excelerator.
The Department of Energy (DOE) is dedicated to ensuring America’s security and prosperity by addressing its energy, environmental, and nuclear challenges through transformative science and technology solutions. The DOE’s goals include transforming the nation’s energy system, securing U.S. leadership in clean energy technologies, maintaining science and engineering as a cornerstone of our economic prosperity, and enhancing nuclear security. DOE sponsors more research in the physical sciences that any other U.S. federal agency.
In 2018, Elemental Excelerator was a selected as one of DOE’s Power Connectors for its American Made Solar Prize.
Since our roots in the Hawaii Clean Energy Initiative, we have worked closely with the State Energy Office to support innovation-friendly policies.
The Hawaii State Energy Office (HSEO) is a division of the State’s Department of Business, Economic Development and Tourism. HSEO is committed to developing and deploying high-impact solutions that will maximize Hawaii’s renewable energy resources, and improve efficiency and transportation standards. In partnership with Elemental Excelerator, HSEO has brought one of the most exciting conferences, VERGE Hawaii, to the islands, showcasing Hawaii’s energy leadership and convening some of the most important voices in clean energy.
Hawaiian Electric Industries was our first Global Partner. Together we have partnered on nearly a dozen demonstration projects.
Hawaiian Electric Industries (HEI) is the parent of the three largest utilities in the Hawaiian Islands – Hawaiian Electric Company, Inc., Hawaii Electric Light Company, Inc. and Maui Electric Company, Ltd. – and one of Hawaii’s largest financial institutions, American Savings Bank.
Vector is New Zealand’s largest distributor of electricity and gas. They challenge and reinvent the way communities and businesses are powered and connected.
Vector owns and manages a unique portfolio of businesses, which consists of electricity distribution, data and communications provider, gas transmission and distribution, smart metering and data management, natural gas and LPG, fiber-optic networks, and solar and energy storage solutions. Vector sees Hawaii as the Silicon Valley of energy and is most interested in technologies that bring different types of innovation together into one platform and technologies that increase engagement with their end clients.
Tokyo Electric Power Company Holdings, Inc. (TEPCO) is the largest public utility in Japan, and the 4th largest utility in the world.
After the market was deregulated in Japan, TEPCO faced a rapidly changing market and significant disruption to their business model. In response, TEPCO formed an Innovation Task Force to evaluate technology solutions for their grid and explore new business ventures. They are collaborating with Elemental Excelerator and its portfolio companies to assist them in their transformation, learn more about energy innovation in Hawaii, and build a pipeline of promising startups.
With FPH’s commitment to never invest in another coal plant, they are positioning themselves as the clean energy leader of the Philippines.
First Philippine Holdings Corporation (FPH) is a management and investment company with interests in power generation and distribution, as well as strategic initiatives in manufacturing and property development. Its power generation subsidiary, First Gen Corporation, is a renewable energy producer with various power plants that utilize geothermal, hydro, and natural gas. With FPH’s commitment to never invest in another coal plant, they are positioning themselves as the renewables leader of the Philippines across all clean energy verticals and are looking to share their geothermal expertise with the world.
GE counts most of the world’s utilities as their client and wants Elemental Excelerator to provide insight into the new technologies and projects that are actively being deployed.
GE Ventures is a global leader in energy innovation and investments, with dozens of active energy venture investments. They are committed to identifying, scaling, and accelerating ideas that will make the world work better and provide entrepreneurs and startups access to GE’s technical expertise, capital, and opportunities for commercialization through GE’s global network of businesses, customers, and partners.
SK Gas is looking for technologies that bring innovation to the energy sector and has high interest in service solutions that are built around enhancing engagement with end customers.
SK Gas is part of SK Group, the third largest conglomerate in Korea. SK Gas also owns and manages a portfolio of businesses, including power generation, renewable energy development, and property development. SK Gas is looking for technologies that bring innovation to the energy sector and has high interest in service solutions (e.g., energy storage systems, energy efficiency, etc.) that are built around enhancing engagement with end customers.
Hitachi is a Japanese multinational conglomerate and one of the world's largest manufacturers of power systems and industrial components.
Hitachi is one of the world’s largest manufacturers of power systems and industrial components, delivering energy and environmental efficiency solutions that help conserve resources and innovate sustainably. Hitachi’s offerings include power supply components, grid optimization solutions, and Lumada, an IoT platform that maximizes the value of industrial data.
BP is a British multinational oil and gas company headquartered in London, England.
The energy BP produces serves to power economic growth and lift people out of poverty. BP knows that the delivery of heat, light and mobility is changing. They aim to anchor their business in these changing patterns of demand and contribute to a lower carbon future.
Centrica is a British multinational utility company headquartered in the United Kingdom.
Centrica is an international energy and services company. Their purpose is to satisfy the changing needs of their customers in a rapidly evolving energy world.
Orsted is a multinational power company headquartered in Copenhagen, Denmark.
Orsted develops, constructs and operates offshore wind farms, bioenergy plants and innovative waste-to-energy solutions and provides smart energy products to its customers. They have a vision of creating a world that runs entirely on green energy.
Elemental Excelerator is partnering with HCF in looking at innovative ways to increase water efficiency, transparency, and supply.
The Hawaii Community Foundation (HCF) partners with and convenes experts, donors, and nonprofits to raise the level and effectiveness of philanthropy in Hawaii. HCF creates partnerships by bringing funders together with nonprofit, community, and government leaders, and shares knowledge gained through its work investments. Fresh water has always been a concern for an island in the middle of the Pacific with finite water resources.
Ulupono is a Hawaii-focused impact investing firm.
Ulupono is a Hawaii-focused impact investing firm working to improve the quality of life for island residents in four key areas: locally produced food; clean, renewable energy; and better management of water and waste.
Hawai'i Energy empowers island families and businesses to make smarter energy choices.
Hawai’i Energy educates island families and businesses about the many, lasting benefits of clean energy. They encourage and reward practical energy-saving decisions and believe that together, we can save money, grow our economy and reduce the demand for electricity imports.
American Savings Bank is Hawaii's third-largest financial institution and is a subsidiary of Hawaiian Electric Industries.
For more than 90 years, American Savings Bank has championed the dreams of generations of island residents and businesses. Their strength comes from helping customers succeed and supporting the communities they live in.
PTT, a Fortune 500 and a member of World DJSI, is a fully integrated energy and petrochemical company in Thailand, with global footprints.
PTT, a Fortune 500 and a member of World DJSI, is a fully integrated energy and petrochemical company in Thailand. Aside from traditional energy, petrochemical, and trading businesses, PTT invests in New S-Curve businesses under the ‘Design Now’ strategy. PTT’s Innovation Team and Corporate Venture Capital identifies, partners, and invests globally in technologies for energy and sustainability, which can solve developing countries’ challenges.
National Grid is an international energy company headquartered in the United Kingdom, with U.S. operations as well. They operate both regulated and competitive businesses, and are working to embed the culture of innovation into everything they do.
National Grid is an international energy company headquartered in the United Kingdom, with U.S. operations in New York, Massachusetts and Rhode Island. They operate both regulated and competitive businesses, and are working to embed the culture of innovation into everything they do. Their goals for new technology are aligned with energy and transportation sector trends of decarbonization, decentralization and digitization.
Separate from their core regulated businesses, National Grid has a ventures team active in competitive markets across the US and UK. They are working to build the energy systems of tomorrow – from bringing innovative technology to market that changes the way homes and businesses use energy, to competing for new, large-scale, climate-friendly energy projects. Whether it’s the long-distance transport of renewable energy, storage, or supporting the roll-out of smart meters, National Grid Ventures is investing in new technologies to make energy reliable, clean, and affordable.