team work

Sunnova Energy taps new fintech platform for collaboration

Sunnova Energy International and Tenet Energy will offer special discounts and financing plans. Photo via sunnova.com

Houston-based Sunnova Energy International, a provider of commercial and residential solar energy services, has teamed up with fintech platform Tenet Energy to help Americans buy electric vehicles and solar power systems.

The two companies will offer special discounts and financing plans to encourage Sunnova customers to switch to electric vehicles purchased through Tenet and Tenet customers to adopt Sunnova’s solar energy systems.

“Our suite of energy solutions — which includes EV chargers — addresses the concerns of higher electricity costs associated with fueling EVs while enabling buyers the convenience of charging from home as they electrify their transportation,” Michael Grasso, executive vice president and chief revenue officer at Sunnova, says in a news release.

The goal of the partnership is to enable homeowners to charge electric vehicles with solar power, which the companies say would lower utility and fuel costs.

“Our mission is to help Americans electrify their lives, starting with their vehicle,” says Alex Liegl, CEO of New York City-based Tenet. “EVs are an excellent way to begin your sustainability journey and save money, but they are also part of a broader energy system that works synergistically with other clean energy home assets like solar.”

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A View From HETI

Greentown Labs and MassChallenge have formed a strategic partnership. Photo courtesy Greentown Labs.

Climatetech incubator Greentown Labs has formed a strategic partnership with global zero-equity accelerator MassChallenge.

The two organizations have headquarters in the Boston area, while Greentown Labs is also co-located in Houston. MassChallenge has a hub in Dallas, as well as others in Israel, Switzerland and the United Kingdom.

The new partnership aims to strengthen the ecosystem for early-stage climatetech startups by providing more mentorship, support and a broader commercialization network for members, according to a news release.

Greentown Labs will share its expertise with the 23 startups in MassChallenge's first climate-specific accelerator, known as the MassChallenge Early Stage Climate program. Additionally, Greentown Labs members will benefit from MassChallenge's network of expert mentors, judges, entrepreneurs, partners, investors, philanthropists and others.

“There are so many synergies and shared values between MassChallenge and Greentown that launching a collaboration like this feels like a natural next step for our organizations as we strive to support as many early-stage climate founders as possible,” Georgina Campbell Flatter, Greentown Labs CEO, said in the news release. “We want to reduce the friction and barriers to market for these climate entrepreneurs and ultimately increase their opportunity for success—ecosystem collaboration is an essential part of solving these challenges together.”

Combined, Greentown and MassChallenge report that they have supported more than 4,500 founders and more than 1,000 climate startups. MassChallenge has awarded more than $18 million in equity-free grants to startups, which have gone on to raise over $15 billion, since it was founded in 2009. Greentown Labs has helped more than 575 startups raise more than $8.2 billion in funding since it launched in 2011.

Greentown recently added five startups to its Houston community and 14 other climatetech ventures to its Boston incubator. It also announced its third ACCEL cohort, which works to advance BIPOC-led startups in the climatetech space, earlier this year. Read more here.

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