Sacramento Region Selected for $44 million Green City Investment

Sacramento Region Selected for $44 million Green City Investment

 

There’s a new source of opportunities for regional clean tech companies if they have something to offer on EVs.  VW has agreed to a nearly $2 Billion settlement for cheating on its emissions testing, and $44 million of that looks like it will be coming to Sacramento.  VW is trying to put a positive spin on this penalty by using it to create “Green City” initiatives as part of an “Electrify America” plan.

Sacramento was identified through an extensive process as the city that could benefit the population and had an infrastructure and community ready to act.  The Green City goal is to “establish a green mobility habitat through the development of public programs utilizing ZEVs”.  

The Green City is considered the entire Sacramento Metropolitan area. The first work for the Sacramento green city is under way with development and install of around 75 charging stations for EVs and purchasing vehicles for ridesharing in underserved low-income areas.  The Green City infrastructure is expected to be $11M of the $44M.

Sacramento is not limited to only $44 million of the settlement.  $800 million of the total settlement will be invested in California and Sacramento can still compete for additional investment. Additional investments plans by VW in the Green City program will be submitted to the Air Resources Board.

About The Authors 

Thomas Hall

Gary Simon is the Chair of CleanStarts Board. A seasoned energy executive and entrepreneur with 45 years of experience in business, government, and non-profits.

Thomas is the Executive Director of CleanStart. Thomas has a strong background in supporting small businesses, leadership, financial management and is proficient in working with nonprofits. He has a BS in Finance and a BA in Economics from California State University, Chico. Thomas has a passion for sustainability and a commitment to supporting non-profits in the region.

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Entrepreneurs Dive into Crowdfunding Workshop

Entrepreneurs Dive into Crowdfunding Workshop

The number one need for a startup is almost always money. Now there is a new path to raising capital to launch a tech business. CleanStart is helping entrepreneurs get into the crowdfunding business! It requires some new skills and new techniques, most of which are unfamiliar to people.

Last month we hosted a well-attended workshop for startup founders on crowdfunding best practices to make more people aware of what can be done. We looked to our more experienced neighbors in Silicon Valley to share information about raising capital through successful campaign strategies for both Equity and Rewards-based crowdfunding. Our attendees included entrepreneurs in a variety of industries — from clean tech, to software, to real estate, and more.

Our presenters included Manny Fernandez, cofounder and CEO of equity crowdfunding platform Dreamfunded; Michael Zeligs of StartMotionMEDIA, who has helped companies raise over $13 million through rewards-based crowdfunding campaigns; and Chris Russell, Partner at Stoel Rives, who provided insights on the SEC rules for regulation crowdfunding.

Our biggest takeaway from the workshop was the importance of developing and leveraging personal relationships for crowdfunding success. Additionally, crowdfunding is an effective tool to help entrepreneurs amplify their reach to investors beyond their network. Manny explained personally building investor confidence in you is instrumental in a positive launch of a successful equity crowdfunding campaign.  Michael strongly encouraged everyone to build an intimate connection with the people on their mailing lists. A big email list doesn’t guarantee success–we need to personally interact with each person individually to increase the likelihood of campaign success. Michael advised that using email marketing platforms like MailChimp or Constant Contact is not the best way to accomplish this and recommended using mail merge utilities that allow for a more personalized email.

Chris Russell clarified the legal requirements of equity crowdfunding. We learned that crowdfunding equity capital doesn’t skirt the formal process; there are SEC rule and regulations they are required to follow when raising any type of equity funding.

At the end of the workshop, many who attended expressed an eagerness to learn more about crowdfunding in future workshops and to get direct help from CleanStart in formulating their own campaigns. To get you started with Crowdfunding, we’ve created a Crowdfunding information Page. Check it out!

CleanStart will host a networking meetup for crowdfunding entrepreneurs of all experience levels this summer. Stay tuned! Also, plan ahead for our September workshop on Ramping up Revenue — sales is a great way (the best!) to raise capital!.

ABOUT THE AUTHOR

Thomas is the Executive Director of CleanStart. Thomas has a strong background in supporting small businesses, leadership, financial management and is proficient in working with nonprofits. He has a BS in Finance and a BA in Economics from California State University, Chico. Thomas has a passion for sustainability and a commitment to supporting non-profits in the region.

CleanStart Sponsors

Weintraub | Tobin, Moss Adams GreenbergTraurig

BlueTech Valley, PowerSoft.biz, Revrnt, Synbyo, Califronia Mobility Center

Profile: carbonBLU

Profile: carbonBLU

carbonBLU is a cleantech software company, working to accelerate the adoption of alternative fuels and advanced vehicles. Based in Roseville, they started operations in 2014 with the mission to establish clear positive correlations between sustainable environmental practices and sustainable business practices.

carbonBLU helps fleets analyze and explore options for improvement and optimization, without the costs associated with hiring technical staff and additional personnel. Their signature app, BLUprint, combines operational data with market data to inform intelligent investment decisions. BLUprint gives users the ability to engage in proactive and progressive decision making. The BLUprint platform turns data into decisions, allowing users to save significant amounts of time and money. They are currently working with CALSTART to provide fleet analysis and fleet modernization services to vehicle operators in California’s Central Valley.

In addition to fleet management, they are also working with the California Energy Commission, providing emissions testing, data collection and analytics for some exciting and high profile technology demonstration programs. These include deployment of fully electric heavy duty vehicles and electrification of the Port of San Diego.

Sedale Turbovsky, head project manager, says their team is looking forward to seeing carbonBLU play a critical role in supporting future deployment of alternative fuels and advanced vehicles, providing fleet operators powerful predictive analytics tools, and enabling extremely efficient vehicle maintenance and replacement programs. As their platform evolves, they plan on leveraging collected data sets to assist state agencies in developing strategic investment plans for their transportation ecosystem. Find out more about carbonBLU on their website or read their online publication on Medium.


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