Climate Change Investment Initiative (2c2i)

The Climate Change Investment Initiative (2c2i) is a startup funding program spearheaded by the Exelon Foundation, in partnership with Exelon Corporation. Established in 2019, this initiative combines philanthropic goals with venture capital principles to invest in innovative companies developing clean energy and environmental sustainability solutions. As of 2025, the 2c2i portfolio includes 34 active startups led by diverse and inclusive teams, with 15 of these companies operating within Exelon’s service territories, which include Atlantic City, Chicago, Baltimore, Philadelphia, Washington, D.C., and Wilmington, Delaware. The 2c2i program seeks startups capable of mitigating greenhouse gas emissions, strengthening the resiliency of urban infrastructure such as the power grid and transportation systems, or helping communities adapt to climate change. Eligible companies must demonstrate potential to benefit one or more of Exelon's major markets. In addition to financial backing, startups gain access to in-kind services from Exelon Corporation and participate in co-designed Impact Projects tailored to their technology and business goals. Investments provided through 2c2i are structured to suit the unique needs of each recipient, including options like common equity, preferred shares, debt, and convertible securities such as SAFE Notes. The average equity investment begins at a minimum of $100,000 and may go up to $300,000. The total program commitment is $20 million, split evenly between direct equity investments from the Exelon Foundation and in-kind services from Exelon Corporation. Selected startups are expected to deliver community-level impacts aligned with local sustainability goals and climate adaptation strategies. To qualify, applicants must be for-profit startups actively operating or intending to operate within Exelon’s service areas. Nonprofit organizations are not eligible. Businesses based outside these markets may still apply, provided their products or services directly benefit one or more of Exelon’s designated territories. Selection criteria include sustainability impact, local community engagement, product innovation, team diversity, market potential, and demonstrated traction with customers or funding. Applications for the current 2c2i cycle are being accepted through September 29, 2025. The program is recurring, with an annual cycle. While the open date for this cycle is not explicitly stated, startups are encouraged to submit their applications promptly to maximize consideration. There is no mention of a pre-application or concept note requirement in the source documentation. Program contacts include Paula Conrad, President of the Exelon Foundation; Sunny Elebua, Senior Vice President and Chief Strategy & Sustainability Officer; and Faith Davis, Lead for the Climate Change Investment Initiative. Additional inquiries may be directed to the foundation via email at exelonfoundation@exeloncorp.com or to Sara Block of Freshwater Advisors at sara@FreshwaterAdvisors.com. Application and program details are accessible via exelonfoundation.org. The 2c2i initiative reflects Exelon’s broader commitment to environmental stewardship, social equity, and economic development within its service regions. Notable previous recipients include Carbon Reform, which installed its Carbon Capsule technology at Exelon's BGE Spring Garden facility in July 2024, illustrating the real-world impact these investments can deliver in terms of energy savings and air quality improvements.