Daily CSR
Daily CSR

Daily CSR
Daily news about corporate social responsibility, ethics and sustainability

Southern Company Collaborates with Elevate-funded Companies to Drive Clean Energy and Diversity


Southern Company Collaborates with Elevate-funded Companies to Drive Clean Energy and Diversity
Introducing the Elevate Future Fund I LP ("Elevate") - a game-changing initiative by Energy Impact Partners ("EIP") to fuel a clean energy future that's both diverse and equitable. With an impressive $111.9 million of limited partner commitments, Elevate is set to revolutionize the energy ecosystem.
Backed by industry stalwarts like Southern Company, whose CEO-elect Chris Womack will co-chair Elevate's advisory board, Elevate is on a mission to drive diversity by investing in underrepresented founders of clean technology companies and supporting minority-owned businesses in the associated supply chain. But that's not all - the fund also invests in other parties in the larger energy ecosystem, all with the aim of accelerating a clean energy transition while increasing diversity, equity and inclusion in the broader venture capital network.
Join us in this historic endeavor, as we pave the way for a brighter, cleaner, and more inclusive energy future.
“Together with EIP, we celebrate the completion of fundraising for the Elevate Future Fund,” said Chris Cummiskey, Southern Company’s executive vice president and chief commercial solutions officer.
“Today, less than 3% of venture funding goes to minority entrepreneurs. That must change. We remain exceedingly enthusiastic about the important work of this fund to support diverse entrepreneurs who are creating critical energy solutions for a more sustainable energy future.”
He went on to add, “We are steadfast in our commitment to the ongoing success of Elevate, and we are pleased to serve in an advisory capacity.”
Southern Company and its subsidiaries are leading the charge towards a sustainable energy future and a more diverse workforce. To achieve these ambitious goals, they're teaming up with innovative companies funded by Elevate - and the results are nothing short of spectacular.
One such collaboration is with ChargerHelp!, an electric vehicle charging station and maintenance company. Through this partnership, Southern Company subsidiary Georgia Power is conducting local employee trainings and an 18-month pilot program focused on electric vehicle infrastructure and renewable technologies. By supporting companies like ChargerHelp!, Southern Company is not only driving innovation, but also empowering its workforce with the skills and knowledge they need to stay ahead in a rapidly evolving industry.
Another exciting partnership is with Rheaply, a cloud-based resource exchange platform that's changing the game when it comes to efficient resource management. Southern Company subsidiaries are working closely with Rheaply to trade materials and resources more effectively, avoid carbon emissions, and reduce spending. Nicor Gas has already piloted Rheaply software with great success, and Georgia Power, Southern Company Gas, and Southern Company Services are all in the process of implementing similar pilot programs. The potential for even broader deployments of Rheaply's innovative solution is also being explored by Southern Company.
“Having Southern Company’s support at the helm of what we’re building at Elevate is invaluable,” explained Anthony Oni, a managing partner at EIP.
“Their commitment to helping our companies test, learn and scale provides us with important data, insights and partnerships to better support underrepresented founders. They exemplify the EIP model of collaboration, and we look forward to many more partnerships that support diversity, equity and inclusion within the energy ecosystem.”