December 5, 2023 — National Renewable Energy Laboratory (NREL)
The themes from Cohort 6 move GCxN into technical areas it has not explored in prior cohorts, piecing together different expertise from across the laboratory in ways that are industry relevant. This comes after NREL worked with Shell on a major extension of the program. This fall, Shell and NREL agreed to extend the GCxN program for another five years.
“I see it as a vote of confidence and an investment in the continuation of our relationship so our resources can be brought together to create something meaningful,” said Johanna Jamison, GCxN program manager at NREL. “They believe in what we are doing, and they know that we are the right partner to continue to carry this successful program forward.”
The extension allows GCxN to provide another 30 startup companies with access to $250,000 in nondilutive funding to conduct technical assistance projects. The sixth cohort brings GCxN to a total of 23 portfolio companies across various technology sectors and stages since the partnership began in 2018. The portfolio companies have collectively raised over $317 million since joining the program, translating to a leverage ratio of $67 raised for every dollar of Shell project funding. On average, startups enter GCxN at a 3.6 Technology Readiness Level and graduate at a 5.6 (on a scale of 1–9). These results, in tandem with the 285 jobs created by the portfolio companies, showcase the program’s substantial impact on the cleantech ecosystem.
