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By August 31, 2021 November 18th, 2021 No Comments

Wells Fargo Innovation Incubator Program Supports CarbonbookSM Development

Wells Fargo, the National Renewable Energy Lab and the Donald Danforth Plant Science Center will provide world-class research support and $250,000 in non-dilutive funding

The Wells Fargo Innovation Incubator (IN2), a technology incubator and platform funded by the Wells Fargo Foundation and co-administered by the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL), announced it has chosen to support the development of our new product, an indoor farming carbon assessment tool called CarbonBook.  

The Incubator Program selected Motorleaf (the company that launched CarbonBook) along with four other startups to participate in the program’s ninth cohort. Launched in 2014 with an initial focus on scaling energy efficient solutions in commercial buildings, IN2 expanded into sustainable agriculture in 2018 to accelerate technologies that help the agriculture sector overcome barriers and costs of implementing sustainable farming solutions.

  “This award comes at an important juncture, as we have successfully helped indoor farms predict and increase their yields for the past several years, and are now launching our new SaaS product, CarbonBook. The platform allows customers to track and improve their carbon footprints,” said Daphne Preuss, CEO. “The support will allow us to marry the AI framework we have created to model yield within our new sustainability platform, helping customers maximize both profits and sustainabilty goals for the first time.”

She added, “As supply chain companies commit to more ambitious sustainability goals, and reward responsible growing, the ability to track carbon footprint is essential. CarbonBook will be the premier tool for tracking sustainability metrics and gaining insights for improvement.”

IN2’s nationwide Channel Partner network, which nominated Motorleaf, includes more than 60 cleantech and agtech business incubators, accelerators and university programs. Motorleaf underwent in-depth review by Wells Fargo, NREL, Donald Danforth Plant Science Center and IN2’s expert advisory board. 

The CarbonBook project and those of other selected companies will receive up to $250,000 in non-dilutive funding from Wells Fargo. They will conduct research and development activities at NREL and the Donald Danforth Plant Science Center in St. Louis, Missouri, a program partner and the world’s largest independent plant science research institute.

About the Wells Fargo Innovation Incubator (IN2)

The Wells Fargo Innovation Incubator (IN2) is a $50 million technology incubator and platform funded by the Wells Fargo Foundation. Co-administered by and housed at the National Renewable Energy Laboratory (NREL) in Golden, Colorado, IN2’s mission is to speed the path to market for early-stage, clean-technology entrepreneurs. Launched in 2014 with an initial focus on supporting scalable solutions to reduce the energy impact of commercial buildings, IN2 has since expanded its focus to advance technologies that address the sustainable production of agriculture and housing affordability. Companies selected for participation in the program receive up to $250,000 in non-dilutive funding from Wells Fargo, technical support and validation from experts at NREL and the Donald Danforth Plant Science Center, and ongoing connections to organizations across value chains. For more information, visit in2ecosystem.com.

 


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