Gemini Energy Solutions Receives $1 Million Investment from Pepco and Exelon-funded Racial Equity Capital Fund
by Adrian C Guzman
Gemini Energy Solutions, a pioneering Black-owned and Black-led energy audit and cleantech company, is excited to announce a groundbreaking partnership with Pepco and the Exelon-funded Racial Equity Capital Fund. This strategic collaboration, backed by a substantial investment of $1 million and facilitated by investment manager RockCreek, underscores Gemini Energy Solutions' unwavering commitment to addressing climate change and environmental justice through equitable clean energy initiatives.
Gemini Energy Solutions specializes in providing affordable and comprehensive investment-grade energy audits to organizations operating in underserved urban and rural communities. Their innovative Conserve platform, a Software as a Service (SaaS) solution, streamlines the energy audit analysis and reporting process. Additionally, Conserve catalyzes the co-development of Clean Energy Hubs at scale, which are resilient, revenue-generating microgrids that combine renewable energy sources, energy storage, and other sustainable technologies to provide localized emissions-free energy and transportation solutions.
The target customers for Gemini Energy Solutions' SaaS platform include Utilities, ESCOs, REITs, and Banks. This encompasses utilities with over 100 commercial customers looking to achieve demand reduction or electrification goals, ESCOs seeking to serve both large commercial buildings and smaller clients, as well as REITs, Chains, and Banks with a significant portfolio of buildings, especially those under 25,000 square feet.
Furthermore, Gemini's Clean Energy Hubs initiative is aimed at regional and national non-profits with established relationships within communities. The company collaborates with organizations like Green The Church to identify pre-filtered community anchors (such as churches and non-profits) that are ready to develop clean energy projects, thereby fostering economic empowerment and climate resiliency within these communities.
Gemini Energy Solutions' vision is to accelerate and scale energy efficiency, electrification, and decarbonization nationwide while empowering historically marginalized communities. By establishing revenue-generating Clean Energy Hubs in underserved areas, they seamlessly integrate renewable energy sources with local infrastructure, bolstering climate resiliency and providing sustainable solutions that prioritize the pressing needs of frontline communities.
Recognizing the vital role that limited financial resources play in realizing this transformative vision, Gemini acknowledges that grant funding is essential to maximize the impact of their model, one that harmoniously blends economic empowerment, environmental sustainability, and social equity.
This substantial $1 million investment empowers Gemini Energy Solutions to expand access to capital, create more jobs, foster business growth, and reinvest in underserved neighborhoods and communities. More importantly, it underscores a profound commitment to environmental sustainability, social equity, and economic empowerment. In partnership with Pepco, the Exelon-funded Racial Equity Capital Fund, and RockCreek, Gemini aims to usher in a transformative era of clean energy solutions that leave no community behind.
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