Duke Energy to fund new Jules Accelerator clean-tech camp for students

Rhea-AI Summary

The Duke Energy Foundation has awarded $96,000 to Joules Accelerator to create a program enabling college students to assist clean-tech startups in the Carolinas. This initiative, named Joules Camp, aims to enhance community resilience and sustainability through student involvement in decarbonization efforts. Emphasizing diversity and inclusion, at least half of the interns will come from underrepresented backgrounds. Duke Energy is committed to achieving net-zero emissions by 2050, highlighting its ongoing clean energy transition.

Positive

• Duke Energy Foundation awarded $96,000 to Joules Accelerator to support clean-tech initiatives.
• The Joules Camp program fosters student involvement with energy startups, advancing community decarbonization efforts.
• Commitment to diversity by ensuring half of the interns are from underrepresented backgrounds.

Negative

• None.

• Student interns will help clean-tech startups expand programs into the community
• Joules Accelerator has been fostering energy startups for a decade

CHARLOTTE, N.C., June 30, 2022 /PRNewswire/ -- The Duke Energy Foundation will fund a program that will allow college students to help energy startups – working with local neighborhoods to bring decarbonization programs to underserved communities in the Carolinas.

The Foundation recently awarded $96,000 to Joules Accelerator – a Charlotte-based nonprofit that helps foster clean energy startups.

"Duke Energy has been a long-time supporter of Joules Accelerator," said Brian Savoy, Duke Energy's chief strategy and commercial officer. "This grant will bring students into the program to help energy startups integrate cleantech programs in our local areas."

The grant will support the creation and deployment of a new program – Joules Camp. Six student interns will work alongside energy startups to provide sustainable energy solutions for communities throughout the Carolinas.

A student intern will work with each pilot effort to improve resiliency and sustainability for a community, provide revenue for small businesses and provide a comprehensive "Joules Camp Story" that showcases how the funding is benefiting the community.

"These are the early days of what we're now calling Cleantech 2.0," says Bob Irvin, executive director of Joules Accelerator. "Today, we see an explosion of interest in meeting climate goals through corporate innovation, venture capital investment, university and national laboratory research and national policy initiatives. Our focus is providing early-stage entrepreneurs with the right advisory team to gain market traction in the Carolinas."

The camp will advance the principles of diversity, equity and inclusion – ensuring that at least one-half of interns are from underrepresented backgrounds, and half the pilot communities are underserved.

Joules Accelerator

Joules Accelerator works to identify, advise, connect and deploy early stage climate startups with the energy network of the Southeast and beyond. Joules moves quickly to make warm connections to relevant stakeholders and to find revenue-generating pilots and other commercialization opportunities for startups. Network members include Duke Energy, Microsoft, S&C Electric, EY, UNCC, the city of Charlotte and more.

Joules presents 12 startups through two cohorts per year. Each cohort lasts 90 days and requires two-four hours per month for meeting with potential customers. The program is free for startups, free to apply and does not take equity.

Duke Energy Foundation

The Duke Energy Foundation provides more than $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation is funded by Duke Energy shareholders.

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business and at least a 50% carbon reduction from electric generation by 2030 and net-zero carbon emissions by 2050. The 2050 net-zero goals also include Scope 2 and certain Scope 3 emissions. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2022 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.

Contact: Randy Wheeless
Twitter: @DE_RandyW
24-Hour: 800.559.3853

Winter Wilson, Joules Accelerator
740.594.6774
winter.wilson@joulesaccelerator.com

 

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SOURCE Duke Energy

FAQ

What is the purpose of the Joules Camp funded by Duke Energy?

The Joules Camp aims to involve college students in supporting clean-tech startups to implement decarbonization programs in underserved communities.

How much funding did Duke Energy provide to Joules Accelerator?

Duke Energy provided $96,000 in funding to Joules Accelerator.

When was the press release about Duke Energy's funding issued?

The press release was issued on June 30, 2022.

What are Duke Energy's long-term environmental goals?

Duke Energy aims for net-zero emissions by 2050, including significant reductions in carbon emissions.

Where is Joules Accelerator located?

Joules Accelerator is based in Charlotte, North Carolina.