MINNEAPOLIS, Nov. 18, 2020 /PRNewswire/ -- Brown Venture Group LLC, a venture capital firm formed to fund Black, Latino, and Native American technology entrepreneurs, announced that it is partnering with Ecolution KWH, LLC (www.ecokwh.com), an e-mobility technology company, to provide its seed round of equity funding.
Ecolution recently received a U.S. patent for its process which utilizes "wasted'' kinetic energy in moving vehicles to generate electricity in a microgrid of a large scale. Ecolution will develop prototypes of its ground-breaking technology on three continents. Matched with a heavy-duty electric truck partner, the company's first objective is to turn the distribution of food and medicine into a net-zero-carbon industry, eliminating current dangerous levels of carbon emission on a global scale.
The commercial transportation sector is the largest source of greenhouse gas emissions in the United States. Contributing emitters include refrigerated trailers and refrigerated containers on train cars and ships. Ecolution's proprietary technology eliminates the diesel-burning gas tanks in these trailers and containers on train cars while providing the clean electricity needed to power the refrigeration units. The technology also materially reduces the weight of the trailer or train car, allowing for more hauling capacity.
Brown Venture Group was founded in 2018 by innovation and entrepreneur consultant Dr. Paul Campbell and fundraising and diversity coach Dr. Chris Brooks with the goal of raising $50 million for its inaugural fund. In 2020, Brown Venture Group expanded its leadership team to include long-time business executive Jerome Hamilton and successful entrepreneur Chris Dykstra.
"This is an exciting way for Brown Venture Group to launch our fund with transformational technology that will benefit our environment by significantly reducing carbon emissions," said Paul Campbell, Co-founder, and CEO of Brown Venture Group. "Our goal is to provide leadership to large financial and industrial institutions trying to close the gap in economic and social disparities. Hopefully, they see Brown Venture Group as a platform to accelerate social initiatives."
"Our partnership with Brown Venture Group will empower our customers to generate, store and distribute sustainable energy," said Johanne Medina Then, CEO of Ecolution. "As a minority-controlled business, we understand the challenges in bringing ground-breaking ideas to life. Partnering with Brown Venture Group allows us to take that important first step. We will soon begin to save our planet."
Ecolution was founded by Latin American technology entrepreneurs. Its technology generates clean energy on a large scale in trailers, train cars, and subway cars.
About Brown Venture Group Launched in 2018, Brown Venture Group, LLC is a venture studio venture capital firm exclusively for Black, Latino, and Native American technology startups. Brown Venture Group is writing a new playbook for both those interested in launching a minority-owned technology startup and those interested in investing in new technologies. For more information go to brownventuregroup.com.
About Ecolution KWH Since its inception in 2016, the minority-owned Ecolution KWH's experienced team of entrepreneurs have been developing an innovative method of capturing and reusing 'wasted' kinetic energy. Its patented technology requires no engine and is now entering the proof of concept phase. The development of the prototype will enable power and logistics companies to assess the benefits of the invention, Module Active Response System (MARS), for refrigerated trailers ("reefers"), which are hauled by around 20% of the trucks in the US at any time. Future roll-outs will include rail and sea applications. For more information, visit ecokwh.com