Wells Fargo & Co. (NYSE: WFC) announced on Monday that it would make a multi-regional investment in the “Cleantech Open”, a business plan competition which encourages the development of clean technology companies and green innovation.
“Our employees have enthusiastically volunteered for this inspiring business plan competition serving as subject matter experts, mentors, speakers and judges, and we are proud to further support the organization with multi-regional grants,” said Mary Wenzel, director of Environmental Affairs, Wells Fargo. “Investing in the Cleantech Open is one of the many ways we address needs and create opportunities related to helping our country transition to cleaner technology and sources of energy.”
Wells Fargo & Co. (NYSE: WFC) first introduced its National Cleantech group, a division of the company dedicated to supporting green technology companies, which provides customized commercial banking products and services to companies that manufacturer, market or develop clean energy technologies.
According to a statement, “The Cleantech Open has helped connect entrepreneurs with the expertise, talent, and funding needed to create successful, sustainable businesses. Participants in the program benefit from a blend of mentoring, business-school-class training, and an opportunity to win $30,000 in funding and in-kind donations on a regional level, as well as compete for a national grand prize — a “startup in a box” consisting of cash and services valued up to $250,000.”
“We are thrilled to have the support of Wells Fargo, a leading corporate citizen that is clearly walking the talk when it comes to environmental initiatives,” said Richard Franklin, chair of the Cleantech Open, Rocky Mountain chapter, based in Denver. “As an investor in cleantech with more than $6 billion in loans and investments to businesses focused on environmentally beneficial activities, Wells Fargo’s support of the Cleantech Open will help us reach our goals.”
