Greentown Labs Startup Launches Investment Platform for Clean Energy Projects
A startup based at Greentown Labs, an NEC member, has recently launched an equity crowdfunding platform for investment in clean energy projects. Raise Green is headquartered at the Somerville clean tech incubator, and its new platform will focus on democratizing funding access for projects such as wind turbines, solar panels, microgrids, and community-supported agriculture.
Each project creator will set their own fundraising goal, and investment sizes could range from $100 to $100,000, said Raise Green CEO Franz Hochstrasser. The platform comes at a time when clean tech and green tech projects are often only funded in a few specific fields, often concentrated in a few metropolitan areas. Raise Green may offer budding eco-friendly startups an alternative to the traditional venture capital model at a time when investment is particularly needed to help combat climate change. The first project on the platform is already underway: the National Energy Improvement Fund, a company specializing in efficient, affordable energy, has raised $,000 on the platform since July 10.
“There were a lot of people who are aware of the problem but felt disempowered and unable to take individual or collective action,” Hochstrasser said. “All of the solutions to climate change, and frankly a lot of economic challenges as well, already exist. They just need to be organized and shared and conveyed through knowledge equity in a way that empowers folks to take advantage of them and put them into practice.”
The New England Council congratulates Raise Green on the launch of their new project , and commends Greentown Labs for supporting such innovative startups. Read more in the Boston Business Journal.
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