The New York University Tandon School of Engineering (NYU Tandon) has received a $100,000 grant from Wells Fargo to support early-stage companies in what the university calls New York City’s hub for smart cities, smart grid and clean energy.
NYU Tandon will support the work through its ACRE incubator, a cleantech incubator housed at the university’s Urban Future Lab (UFL). NYU Tandon says ACRE is uniquely poised to engage the next generation of engineers in developing solutions for combating climate change.
The UFL and all its programs are supported by the New York State Energy Research and Development Authority, the New York City Economic Development Corp., National Grid, Cushman & Wakefield, and Lowenstein Sandler.
“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,” says 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.”
According to the university, 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.