Chicago, IL – November 21, 2024: Evergreen Climate Innovations, together with the U.S. Bank Foundation, announced today that Calectra and Kit Switch have been named the 2024 recipients of the U.S. Bank Foundation* Cleantech Inclusion Award.
For the first time in the award’s five-year history, Evergreen and the U.S. Bank Foundation are recognizing two companies. The award reflects the commitment Evergreen and the U.S. Bank Foundation have to empowering entrepreneurs who identify as socially and/or economically disadvantaged and are tackling some of the world’s most pressing environmental challenges.
Calectra is addressing industrial decarbonization with its innovative zero-carbon, high-temperature heat storage technology. Co-founded by Pauliina Meskanen and Nathaniel Weger, the company’s patent-pending conductive ceramic brick technology can store and deliver heat up to 1600°C, powered by renewable electricity, with the potential to significantly reduce CO2 emissions in hard-to-decarbonize industries.
“We’re honored to be selected for the U.S. Bank Foundation Cleantech Inclusion Award,” said Pauliina Meskanen, CEO of Calectra. “This support will be instrumental in advancing our mission to provide sustainable, cost-effective heating solutions for industrial processes that currently rely heavily on fossil fuels.”
Kit Switch is revolutionizing multifamily housing construction by delivering ready-to-install, all-electric interiors that reduce construction costs and carbon emissions. Founded by Armelle Coutant and Candice Delamarre, the company offers pre-certified products that enable developers to retrofit or build multifamily units faster and more affordably while meeting sustainability standards.
“The U.S. Bank Foundation Cleantech Inclusion Award is a game-changer for Kit Switch,” said Armelle Coutant, CEO of Kit Switch. “This recognition will help us accelerate our mission to transform construction through efficient housing solutions that address both environmental challenges and housing affordability.”
Together, these ventures represent promising advancements in reducing greenhouse gas emissions and accelerating sustainable development across key industries. Kit Switch’s modular designs can reduce construction carbon emissions by an estimated 20% and cut installation times by 50%, while Calectra’s technology has the potential to reduce CO2 emissions by 35-76% in energy-intensive industries like cement, steel, and chemicals.
“Cleantech can help create the impact we seek to both address climate change and support economic growth, and we’re proud to foster opportunities for entrepreneurs to bring their big ideas to fruition, with the aim of benefitting both people and the planet,” said Ariel Meyerstein, head of ESG at U.S. Bank. “We’re also pleased to increase both the grant size and the number of companies receiving the award this year.”
The U.S. Bank Foundation Cleantech Inclusion Award supports entrepreneurs who identify as socially and/or economically disadvantaged at the forefront of sustainable innovation. In addition to financial support, Evergreen and U.S. Bank will provide mentorship and access to industry networks, accelerating the growth of these early-stage companies dedicated to environmental and social progress.
“At Evergreen, we are committed to finding, funding, and growing early-stage climate technology companies that drive both economic development and environmental impact,” said Michelle Carr, CEO of Evergreen Climate Innovations. “Kit Switch and Calectra exemplify the kind of innovative solutions we need to address climate challenges while creating jobs and economic opportunities. We’re thrilled to expand our support this year to two extraordinary startups that are positioned to become leaders in the clean energy economy.”
Read more about Kit Switch and Calectra’s stories on the U.S. Bank blog: https://www.usbank.com/about-us-bank/company-blog/article-library/two-female-led-startups-win-us-bank-foundation-cleantech-award.html
*U.S. Bank Foundation is a tax-exempt private foundation described in section 501(c)(3) of the Internal Revenue Code. The Foundation is funded primarily through contributions from U.S. Bank National Association and its affiliates and subsidiaries. The Foundation’s mission is to close the gaps between people and possibility in the areas of work, home, and play.
About Evergreen Climate Innovations
Evergreen Climate Innovations provides catalytic capital and support to entrepreneurs and startups that bring impactful climate technologies to market. The nonprofit pioneered its 501vc® Investment Fund to align philanthropic and corporate contributions to deliver environmental, economic, and social impact. Evergreen advances and expands access to innovation across the Greater Midwest and cultivates an ecosystem of investors, donors, and collaborators. For over a decade, Evergreen Climate Innovations has invested in startups that have raised $54 for every $1 invested. Learn more at evergreeninno.org.
