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

• 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
[email protected]

SOURCE Duke Energy