New Energy Nexus
For Climate Fintech Program
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Amount$750,000
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Program
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Date Awarded11/10/2020
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Term36.0 Months
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Type of SupportGeneral Support/Program
Strategies
Overview
New Energy Nexus seeks to capitalize on the current momentum toward rebuilding a greener economy post-COVID-19 by leveraging their research and network to build a Global Climate Fintech Accelerator. This will be designed to foster financial technologies that catalyze decarbonization; integrate these innovations into the global financial marketplaces and institutions; facilitate multi-regional stakeholder dialogue; and eventually launch accelerator hubs in China, Europe, and the United States. This grant helps New Energy Nexus take the first steps in this vision, establishing a first regional hub, securing corporate participation, and launching the climate fintech accelerator program. (Substrategy: Climate Finance)
About the Grantee
Grantee Website
www.newenergynexus.com
Address
436 14th Street, Suite 1220, Oakland, CA, 94612, United States
Grants to this Grantee
for the development of the Global EV Guarantee Facility
New Energy Nexus supports diverse entrepreneurs to drive innovation and build equity into the global clean energy economy. The organization plans to bring together a coalition of partners and funders to explore the possibility of creating an EV Guarantee Facility, a project that would provide credit enhancement to consumer financing for EVs. This project grant facilitates development of the concept. (Substrategy: Electrification)
for driving innovation for decarbonization with Chinese state-owned enterprises
New Energy Nexus (NEX) supports diverse entrepreneurs to drive innovation and build equity into the global clean energy economy. This grant will support NEX’s work to increase the capacity of Chinese companies to adopt a new energy innovation toolkit with technical, financial, and business solutions.(Substrategy: China National Policy)
for climate finance fintech accelerator landscape scoping
Financial technology, or fintech, is playing an increasing role in the management of assets and mobilization of capital. Robo-advisers are forecasted to manage $1.26 trillion in assets by 2023, and have managed around $500 billion as of 2019. Fintech is attracting attention from nearly all markets and could help realign the financial system towards sustainable development. CalCEF Innovations, now known as New Energy Nexus, will publish a scoping report on the current state of climate fintech solutions, opportunities and barriers; fintech accelerator programs; and fintech-engaged corporate stakeholders in Europe, China, and the United States.
