Verizon Announces Winners of the Second Climate Resilience Prize

Rhea-AI Summary

Verizon (VZ) awards $500,000 to four climate tech solutions providers, including Sesame Solar Inc., 10Power, Raincoat, and Perimeter, to advance climate resilience and equity in under-resourced communities. Winners will receive consulting and guidance in addition to the prize money.

Positive

• Verizon's commitment to supporting entrepreneurs and change-agents innovating to help limit the impacts of climate change on vulnerable communities is highlighted through the Climate Resilience Prize.
• The winners, Sesame Solar Inc., 10Power, Raincoat, and Perimeter, offer innovative, tech-powered, scalable, and reliable solutions that will advance climate resilience and equity in under-resourced communities.
• By providing ongoing business support in addition to the prize money, Verizon is demonstrating a commitment to helping winners scale their businesses and reach more in-need communities.

Negative

• None.

What you need to know:

• Verizon's second Climate Resilience Prize has awarded a total of $500,000 to four innovative, climate tech solutions providers focused on reducing climate change impacts on key communities across the U.S
• Sesame Solar Inc., 10Power, Raincoat, and Perimeter were selected as winners for their tech-powered, scalable, and reliable solutions that will advance climate resilience and equity in under-resourced communities.
• Verizon will continue to support winners in scaling their businesses through consulting and guidance in addition to awarding prize money.

BASKING RIDGE, NJ / ACCESSWIRE / November 8, 2023 / Verizon announced the four winners of its second Climate Resilience Prize, an initiative enacted to help scale proven, in-market solutions that are focused on mitigating the disproportionate impacts of climate change on vulnerable communities, while awarding a total prize pool of $500,000, or $125,000 each.

In partnership with GreenBiz and Resilient Cities Network, the initiative showcases companies that are using advanced technology, such as 5G, and have demonstrated results of their climate resilience solutions. The winners are provided with funding and ongoing business support to help scale their solutions and reach more in-need communities.

"The Climate Resilience Prize underscores our commitment to support entrepreneurs and change-agents innovating to help limit the impacts of climate change on vulnerable communities, and to foster their creativity in strengthening targeted solutions in the areas of technology, community infrastructure, ecosystems and more," said Carrie Hughes, Director of Social Innovation for Verizon.

The launch of the second Verizon Climate Resilience Prize was announced at the Aspen Ideas: Climate Conference in Miami, Florida in March 2023. Based on an expert-led panel of judges, the below four winners were recognized as creatively and effectively using technology and digital strategies.

An overview of each of the winners can be found below:

• Sesame Solar Inc: As extreme weather increases, Sesame Solar Inc. is breaking the dirty cycle of fossil fuel-powered generators that further contribute to climate change-replacing them with renewable, mobile energy solutions that are durable, easy-to-use, and flexible for a variety of use cases.
• 10Power: 10Power's renewable energy projects create climate resilience through on-site energy generation, and for many projects, energy storage.
• Raincoat: Raincoat's mission is to protect every person on the planet from the financial disruption of natural disasters. They collaborate with insurers, financial institutions, nonprofits, and governments to underwrite parametric flood insurance policies.
• Perimeter: The Perimeter Platform is a solution that supports information sharing and collaboration, making real-time evacuation management software accessible to all types of first responders and the public.

The Climate Resilience Prize, which launched in 2021, is part of Citizen Verizon, the company's responsible business plan for economic, environmental, and social advancement. Today's winners are part of Cohort 2; the first group of (three) winners received funding in 2022. To learn more about Verizon's ongoing efforts to support communities in need, please visit CitizenVerizon.com.

Media contact(s)

Rebecca Laming

rebecca.laming@verizon.com

View additional multimedia and more ESG storytelling from Verizon on 3blmedia.com.

Contact Info:
Spokesperson: Verizon
Website: https://www.3blmedia.com/profiles/verizon
Email: info@3blmedia.com

SOURCE: Verizon

View source version on accesswire.com:
https://www.accesswire.com/801108/verizon-announces-winners-of-the-second-climate-resilience-prize

FAQ

What is the Verizon Climate Resilience Prize about?

The Verizon Climate Resilience Prize aims to help scale proven, in-market solutions focused on mitigating the disproportionate impacts of climate change on vulnerable communities, while awarding a total prize pool of $500,000 to innovative climate tech solutions providers.

Who are the winners of the Verizon Climate Resilience Prize?

The winners of the Verizon Climate Resilience Prize are Sesame Solar Inc., 10Power, Raincoat, and Perimeter.

What support do the winners receive in addition to the prize money?

The winners will receive ongoing business support through consulting and guidance, demonstrating Verizon's commitment to helping them scale their businesses and reach more in-need communities.

What is the purpose of the Climate Resilience Prize?

The purpose of the Climate Resilience Prize is to advance climate resilience and equity in under-resourced communities by supporting innovative, tech-powered, scalable, and reliable solutions.