BOSTON--(BUSINESS WIRE)--Two powerhouses of cleantech finance announced today the launch of an innovative venture studio that will develop and launch new companies that accelerate the global shift to clean energy and transportation.
Skyview Ventures–based in Greenwich, Connecticut–and Build Momentum–headquartered in Sacramento, California–have joined forces to fund and launch Momentum X, a venture studio that expands upon their corporate legacies of deploying financial solutions that drive innovation.
“Momentum X builds scalable platforms at the intersection of clean technology and financial technology,” said Momentum X founder and CEO Shawn Garvey, a serial entrepreneur and cleantech innovator who has helped design more than $10 billion in clean technology initiatives. “We’re all about breaking open access to the public and private capital that businesses and consumers require to finance their transition to zero-emission and carbon-friendly solutions.”
Amidst the action and excitement of GreenFin 2023 in Boston–one of the largest convenings of finance, investment and sustainability leaders in the world–Momentum X also welcomed Jason Prince to the team.
“Jason’s career has been at the intersection of energy finance, markets and innovation,” said Garvey. “His outstanding leadership at Third Derivative–Rocky Mountain Institute’s successful climate technology accelerator–where he helped support 125 startups that successfully raised over $850M–brings powerful capabilities to this team.”
“As a business committed to creating and launching new companies, Momentum X enjoys a unique set of unfair advantages,” said Prince. “Our team is able to draw upon an unparalleled breadth and depth of experience to exploit opportunities that our founding partners identify in their day-to-day work.”
“We’re also able to leverage non-dilutive capital to develop minimal viable products, substantially reducing risk and obviating the need to fundraise for early-stage concepts. Finally, our solutions are developed for engaged customers to address demonstrated problems they’re facing,” he explained.
Originally begun as a skunkworks for new ideas inside Momentum, Momentum X has already spun-out two successful companies: e-Mission Control, a Series B-stage company that designs and manages electricity consumption data products and services for on- and off-road electric vehicle fleet operators. Founded in 2020, this start-up already serves 350 corporate customers and manages over 40,000 pieces of zero-emission equipment in 1,100 facilities along the west coast and Canada; and OpenGrants, a powerful AI platform that organizes $500B in funding made available by 1,500 international, federal, state and private grantmaking agencies that has attracted over 12,000 institutional and retail customers since 2020.
Momentum X announced that it will be launching its next startup in Fall 2023. The company is seeking individuals who yearn to make a positive impact in the world by building and leading successful climate finance businesses. Interested individuals are encouraged to start the conversation by completing the Momentum X Builder Interest Form, here. Learn more at www.momentumx.ventures
About Skyview Ventures
Established in 2008, Skyview Ventures was created with a mission to accelerate the worldwide commercialization of renewable energy and clean transportation solutions. The company is acknowledged as a global pioneer in creating new financial structures, innovating new solutions to deploy and leverage public and private capital. Skyview Ventures has 4 operating units: Skyview Finance Company is one of the largest merchants of environmental attributes in the United States, having executed over $2.5B in environmental commodity transactions Davis Hill Development has developed 200 solar facilities totaling 100+ MW across 15 states, Skycharger has developed 500+ EV charging stations in 6 states, and Skyview’s venture capital portfolio includes 25 climate tech startups. www.skyviewventures.com
About Momentum
Momentum is a global consultancy that designs and develops innovation campaigns for forward-thinking organizations working to deploy transformative energy, transportation, and manufacturing technologies. The company’s Design|Develop|Deploy platform generates dramatic results: together with 1500+ clients and institutional partners, Momentum has helped deploy $10B+ in globally significant innovations—while leveraging $2B in public non-dilutive capital—in partnership with dozens of the world’s most innovative companies: Berkshire Hathaway Energy, Volvo, General Motors, Port of Long Beach, Sempra Energy, Schneider Electric, TravelCenters of America, SMUD, New Energy Nexus, CALSTART, and Wells Fargo's IN2 Accelerator. Momentum’s demonstration partners include a robust ecosystem of leading national laboratories and universities, public- and investor-owned utilities, and air-, land- and sea-ports throughout North America. Founded in 2005, Momentum has grown to be among the most sought-after clean technology and commercialization partners in North America. Momentum received the National Growth Accelerator Award from the US Small Business Administration and was acknowledged in 2021 by Sacramento Business Journal as one of the best places to work in Sacramento. www.buildmomentum.io
