Impact Report

July 2018

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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.

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The Earthshot

Transitioning to clean energy is not only a challenge facing utilities and those in the energy industry. It will require collective action from all of us, from entrepreneurs to teachers, from voters to legislators, from Hawaii to each jurisdiction across the world.

ENGIE is a global energy player operating in 70 countries and employing 150,000+ people worldwide. ENGIE New Ventures is the corporate venture arm of the ENGIE Group and is one part of ENGIE’s multi-pronged approach to globally lead the 3D transformation of energy: Decarbonization, Decentralization and Digitization.

HTDC aims to accelerate the growth of Hawaii's technology industry by providing capital, building infrastructure and developing talent to foster innovation.

Servco Pacific Inc. is Hawaii's largest privately held company.

Elemental Excelerator is created in collaboration with Emerson Collective's Elemental platform, which is focused on balancing the needs of humanity and nature by supporting scalable, equitable, and innovative solutions.

Cummins Inc., headquartered in Columbus, IN, is an independent global leader in powertrains for industrial power systems. Recognizing the pace of innovation and the evolution occurring in today’s energy markets, Cummins Growth Office is working closely with Elemental Excelerator to identify and partner with startups developing innovative energy solutions to complement and expand the Cummins product and service portfolio.

Acario is the Silicon Valley based Corporate Venture and Open Innovation arm of Tokyo Gas, the largest gas utility in Japan. Upon the deregulation of the electricity and gas markets in Japan, Acario was created to explore and invest in emerging technologies in the new energy and sustainability sectors. Their current investment focus areas include mobility solutions, renewables and energy storage, next-generation grid infrastructure and services, and sustainability.

NextEra Energy, Inc. is a Fortune 200 energy company with about 45,900 megawatts of generating capacity throughout the United States and Canada. It is the largest electric utility holding company by market capitalization, and together with its affiliated entities, it is the world's largest generator of renewable energy from the wind and sun.

Equinor Energy Ventures is a corporate venture fund that invests in clean energy startups. The fund was established in February 2016 as part of Equinor’s business within New Energy Solutions, reflecting the company’s aspirations to expand its oil and gas portfolio to renewable energy and low-carbon solutions. 

Portland General Electric, is a public utility based in Portland, Oregon. For more than 130 years, PGE has been powering customers’ lives, delivering energy that is safe, reliable and affordable. Today, customers expect more. They also want their energy to be clean and secure. PGE is committed to helping customers and the communities they serve achieve a clean energy future.

Chubu Electric Power is the third largest electric power utility in Japan.

Severn Trent is a UK-based water and wastewater company in the FTSE 100 (100 largest companies in the UK). The Severn Trent Water Authority was created as one of 10 state-run regional water utilities in 1973, and became a private company when the UK privatized its water sector in 1989. Today, the company serves 4.3 million homes and businesses in the Midland region.

In 2013, the U.S. Navy made a $30 million commitment to our program.

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.

Since our roots in the Hawaii Clean Energy Initiative, we have worked closely with the State Energy Office to support innovation-friendly policies.

Hawaiian Electric Industries was our first Global Partner. Together we have partnered on nearly a dozen demonstration projects.

Vector is New Zealand’s largest distributor of electricity and gas. They challenge and reinvent the way communities and businesses are powered and connected.

Tokyo Electric Power Company Holdings, Inc. (TEPCO) is the largest public utility in Japan, and the 4th largest utility in the world.

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.

Elemental Excelerator is partnering with HCF in looking at innovative ways to increase water efficiency, transparency, and supply.

Ulupono is a Hawaii-focused impact investing firm.

Hawai'i Energy empowers island families and businesses to make smarter energy choices.

American Savings Bank is Hawaii's third-largest financial institution and is a subsidiary of Hawaiian Electric Industries.

PTT, a Fortune 500 and a member of World DJSI, is a fully integrated energy and petrochemical company in Thailand, with global footprints.

Centrica is an international energy and services company headquartered in the United Kingdom.  Their purpose is to satisfy the changing needs of their customers in a rapidly evolving energy world.

Conservation International is working to build a healthier, more prosperous, and more productive planet through science, policy, and partnerships with countries, communities, and companies. Over the years, they have helped support 1,200 protected areas and interventions across 77 countries, protecting more than 601 million hectares of land, marine, and coastal areas.

National Grid Partners is the venture investment and innovation arm of National Grid plc.

Pacific Gas and Electric Company is one of the largest combined natural gas and electric energy companies in the United States.

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