Vitol Joins Greentown Labs as Newest Terawatt Partner

SOMERVILLE, Mass., March 10, 2022 /PRNewswire/ -- Greentown Labs, the largest climatetech startup incubator in North America, today announced Vitol as its newest Terawatt Partner—the highest level of engagement with the incubator. Vitol is a world leader in energy with more than 55 years of experience expertly serving the energy markets—from traditional energy to renewables and carbon.

Founded in Rotterdam in 1966, today Vitol serves clients on every continent from 40 offices around the world and is invested in energy assets globally. The company has long standing expertise across physical energy markets, and a growing transitional and sustainable energy practice with more than $1.3B of capital committed to renewable energy projects. Vitol has made investments worldwide across the renewable energy spectrum including hydrogen, wind, solar, electric vehicles, biofuels and more. 

"We are excited to join Greentown Labs as a Terawatt Partner," said Andrew de Pass, Vitol's Head of Renewables. "As we continue to deploy meaningful amounts of capital within the renewables sector, we anticipate accessing and leveraging Greentown's global network of startups and entrepreneurs to invest in the sector and support the ecosystem."

Through its partnership with Greentown, Vitol will deepen its ties with the incubator's community of climatetech startups, gain access to curated and customized events from startup pitch days to thematic roundtable discussions, and receive invitations to Greentown's private sector pitch days featuring innovations from emerging technology sectors. Additionally, Vitol will obtain a seat on Greentown's Advisory Board which provides strategic guidance to the incubator throughout the year. Krishna Danda, Director of Renewables, will serve on the Advisory Board for 2022.

"Partnerships are essential to the success of climatetech startups as well as meeting our climate goals," said Dr. Emily Reichert, CEO of Greentown Labs. "Vitol has deep experience in global energy markets, and we are excited to welcome them into Greentown Labs' network of corporate partners committed to building a low carbon future."

About Greentown Labs
Greentown Labs is a community of climate action pioneers working to design a more sustainable world. As the largest climatetech startup incubator in North America, Greentown Labs brings together startups, corporates, investors, policymakers, and many others with a focus on scaling climate solutions. Driven by the mission of providing startups the resources, knowledge, connections, and equipment they need to thrive, Greentown Labs offers lab space, shared office space, a machine shop, an electronics lab, software and business resources, and a large network of corporate customers, investors, and more. With its headquarters in Somerville, Mass. and a recently opened incubator in Houston, TX, Greentown Labs is home to more than 180 startups and has supported more than 400 startups since the incubator's founding in 2011. These startups have collectively created more than 8,400 jobs and have raised more than $2.2 billion in funding. For more information, please visit www.greentownlabs.com or Twitter, Facebook, and LinkedIn.

Greentown Labs Media Contact:
Julia Travaglini
[email protected] 
603-867-3657

About Vitol
Vitol is a leader in the energy sector with a presence across the spectrum: from oil through to gas, power, renewables, and carbon.

Vitol's clients include leading industrial companies, national oil companies, utilities, and a broad range of energy market participants. Founded in Rotterdam in 1966, Vitol today serves clients from some 40 offices worldwide and is invested in energy assets globally including: circa 16 m m³ of storage, 500 k b/d of refining capacity, 6,800 service stations, 3.3 GW thermal power generation, and $1.3 bn capital committed to renewable investments. Revenues in 2020 were $140 billion.

Vitol Media Contact:
Andrea Schlaepfer
[email protected]
+44 7525 403796

SOURCE Greentown Labs