The company that operates upstate New York’s three nuclear power plants is planning a $20 million push over the next decade to focus on clean energy and environmental technology.
The goal for Exelon Corp. and its Exelon Foundaion is to eventually develop the technologies for broader commercial use.
“Exelon stands with the majority of our customers who want cleaner air and affordable, reliable energy,” said Chris Crane, Exelon CEO and Chairman, Exelon Foundation.
“With recent advances in technology, these are no longer mutually exclusive objectives. The Exelon
Foundation Climate Change Investment Initiative will put us a step closer to a clean energy future by helping entrepreneurs translate their ideas for reversing climate change into practical solutions.”
The company operates the James Fitzpatrick plant in the town of Scriba in Oswego County, Nine Mile Point, also in the town of Scriba, and the Ginna plant in the town of Ontario in Wayne County.
The Exelon Foundation is set to contribute $10 million to the plan. Exelon Corp. will match the grant with up to $10 million through in-kind investments of pro-bono services, such as mentoring business leaders on structuring business plans and financial resource allocation as well as meeting regulations.
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