BROOKLYN, N.Y., Dec. 8, 2016 /PRNewswire-USNewswire/ -- The
New York University Tandon School of
Engineering has received a $100,000
grant from Wells Fargo to support early-stage companies in
New York City's hub for smart
cities, smart grid, and clean energy through its ACRE
incubator.
Housed at the Urban Future Lab (UFL) at NYU Tandon, the
internationally recognized ACRE is a cleantech incubator that
supports startup ventures with innovative technologies and new
business models for a greener, smarter, and more connected world.
ACRE is uniquely poised to engage the next generation of engineers
in developing solutions for one of the most pressing problems of
the 21st century, climate change.
"This grant will help the ACRE to support early-stage business
ventures and to continue providing the services young businesses
need to scale up and find solutions to issues of sustainability,"
said
Pat Sapinsley, managing director of cleantech initiatives
at the UFL. "We're honored to have Wells Fargo supporting our
program and to count them among a growing number of our private and
public supporters dedicated to making a difference in climate
change. Such collaboration is essential if we're going to create,
innovate, and solve the world's pressing energy challenges."
Since 2007, Wells Fargo has provided more than $27 billion in financing for environmentally
sustainable businesses, including $4
billion in solar and wind project investments and
$9 billion to support LEED-certified
and other green buildings. The company is also an active industry
participant and sponsor of several cleantech initiatives, including
a $10 million environmental grant
program for clean technology startups called the Innovation
Incubator.
"Wells Fargo is proud to provide financial support and industry
expertise to the NYU – ACRE program
supporting clean technology entrepreneurs," said Ashley Grosh, vice president, Wells Fargo
Environmental Affairs. "We are dedicated to supporting
organizations like the ACRE and the Urban Future Lab that are
redefining what's possible in the cleantech sector. We're confident
the impact of this grant on New
York's cleantech economy and beyond will multiply through of
our collaboration."
The UFL is a part of the NYU Tandon School of Engineering Future
Labs ecosystem, which also includes the Data Future Lab in
Manhattan's SoHo neighborhood, as
well as the Digital Future Lab and a veterans' entrepreneurial
support program, both in Brooklyn's DUMBO neighborhood. The Future Labs
were the first university-public-private incubator partnership with
New York City and are tasked with
creating a sustainable program that helps new ventures succeed and
generate positive economic impact.
Since launching in 2009, the Future Labs at NYU Tandon have
helped companies create more than 1,250 jobs, raise more than
$245 million in capital, and generate
a local economic impact of
$352 million. Named among the Top
10 Idea Labs in the United States
by Worth magazine, the Future Labs are counted among the
many ways the NYU Tandon School of Engineering supports technology
in service to society.
About the NYU Tandon School of
Engineering
The NYU Tandon School of Engineering
dates to 1854, when the New York
University School of Civil Engineering and Architecture as
well as the Brooklyn Collegiate and Polytechnic Institute (widely
known as Brooklyn Poly) were founded. Their successor institutions
merged in January 2014 to create a
comprehensive school of education and research in engineering and
applied sciences, rooted in a tradition of invention, innovation,
and entrepreneurship and dedicated to furthering technology in
service to society. In addition to its main location in
Brooklyn, NYU Tandon collaborates
with other schools within the country's largest private research
university and is closely connected to engineering programs in NYU
Abu Dhabi and NYU Shanghai. It operates business incubators in
downtown Manhattan and
Brooklyn and an award-winning
online graduate program. For more information, visit
http://engineering.nyu.edu.
www.facebook.com/nyutandon. @nyupoly
About the NYU Urban Future Lab and ACRE
The
Urban Future Lab (UFL) at the NYU Tandon School of Engineering is
New York City's premier innovation
hub for smart cities, the smart grid, and clean energy. The UFL is
home to programs focused on policy, education, and market solutions
for the green economy. ACRE, the UFL's flagship program, is a
business incubator that supports the growth of high-impact
early-stage venture companies addressing climate change. ACRE
incubator companies receive 24/7 access to desk space and
conference rooms at an office in Downtown Brooklyn, in addition to
professional business advisory and support services (legal,
accounting, design) and introductions to ACRE's network of market
partners, investors, mentors, and startup resources. The UFL and
all its programs are supported by New
York State Energy Research and Development Authority
(NYSERDA), New York City Economic Development Corporation (NYCEDC),
National Grid, Cushman & Wakefield, and Lowenstein Sandler. More
at ufl.nyc.
About Wells Fargo CleanTech Group
Since
2005, Wells Fargo has provided more than $52
billion in environmental finance, supporting sustainable
buildings and renewable energy projects nationwide. This includes
investments in more than 300 solar projects and 47 wind projects
that generate enough clean, renewable energy to power hundreds of
thousands of American homes each year. For more information, please
visit www.wellsfargo.com/about/csr and the Wells Fargo
Environmental Forum.
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a
diversified, community-based financial services company with
$1.9 trillion in assets. Founded in
1852 and headquartered in San
Francisco, Wells Fargo provides banking, insurance,
investments, mortgage, and consumer and commercial finance through
more than 8,600 locations, 13,000 ATMs, the internet
(wellsfargo.com) and mobile banking, and has offices in 42
countries and territories to support customers who conduct business
in the global economy. With approximately 269,000 team members,
Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 27 on
Fortune's 2016 rankings of America's largest corporations. Wells
Fargo's vision is to satisfy our
customers' financial needs and help them succeed financially. News,
insights and perspectives from Wells Fargo are also available at
Wells Fargo Stories.
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SOURCE NYU Tandon School of Engineering