Microsoft, Kimbal Musk, NBAs Russell Westbrook invest in Brooklyn-based climate tech company BlocPower
Summary
BlocPower, a Brooklyn-based climate tech company, has closed on a nearly $155 million fundraising round that will be used to expand and finance community decarbonization projects like it already has undertaken in Menlo Park, California, and Ithaca, New York. Microsoft Climate Innovation Fund, Credit Suisse, New York State Ventures, Kimbal and Christina Musk, and NBA player Russell Westbrook also were part of this equity round. "We are fighting the climate crises while improving quality of life for city residents," BlocPower CEO and founder Donnel Baird said in a statement, noting that the funding will "allow us to accelerate building decarbonization across America." Menlo Park, the Silicon Valley hub home to companies like Meta, is also undergoing its own effort to reach a 2030 climate goal of carbon neutrality, which includes electrifying thousands of its buildings to reduce fossil fuel use with help from BlocPower. This latest funding round will also broaden that workforce initiative, further focusing on training and hiring at-risk individuals in vulnerable communities.
Classifications
AskAI Classifications
LabelsLinked Companies
