Exelon’s Climate Bet: How $300K Checks Are Unlocking Half A Billion
Article excerpt
By Ken Silverstein, Senior Contributor. The Exelon Foundation's 2c2i program is backing climate startups, including Buckstop, which uses AI to solve a "price discovery problem" by valuing recoverable metals in retired electronics like EV chargers and solar panels. Buckstop aims to be the "Kelley Blue Book for electronics," promoting circularity, reducing waste, and enhancing energy sovereignty by recovering critical minerals. Another recipient, Public Grid, helps renters access energy-saving programs. Exelon's $20 million commitment since 2019 has catalyzed over $555 million in follow-on capital for 30+ startups, creating jobs and avoiding 1.2 million metric tons of CO2. This strategy, offering modest checks but significant utility access, demonstrates how targeted investments can yield substantial environmental and economic returns. Ask Alexander Olesen why he founded Buckstop, and he replies: Why does a retired EV charger, still packed with several thousand dollars of recoverable metal, get valued by lenders and insurers at zero? Olesen calls that gap a “price discovery problem” - the reason his Washington, D.C.-based startup built an AI system that deconstructs solar panels, batteries and EV chargers into their component metals and assigns them real-time salvage, resale and replacement values. Olesen wants to become “the Kelley Blue Book for electronics” in a U.S...
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In August, the Exelon Foundation added Buckstop and Public Grid, which helps renters access energy-savings programs, to its portfolio.
