Press Release.
Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), has announced the launch and call for applications for the Clean Energy Accelerator 3.0, a high-pace, non-equity dilutive accelerator designed to facilitate partnerships with mature startups developing breakthrough clean energy technologies. The announcement was made by Kara Hurst, Vice President of Worldwide Sustainability at Amazon, during a session at the 2022 United Nations Climate Change Conference (COP27) in Sharm el-Sheikh, Egypt.
The International Energy Agency has determined that 40% of the CO2 reductions required to move the world to net-zero emissions by 2050 rely on technologies not yet commercially implemented on a large scale. This is especially crucial to achieve ambitious climate goals such as the UAE Net Zero by 2050 plan. While the energy sector has made strides in developing clean energy technologies, there is still a long way to go before the world can realise its decarbonization objectives.
The AWS Clean Energy Accelerator 3.0 is focussed on the requirements of mature entrepreneurs from across the world and is aimed to stimulate co-innovation through energy collaborations.
The program will consist of 12 weeks of virtual and in-person training beginning in Seattle in the second quarter of 2023. Its reach and breadth will be increased with the addition of two additional cohorts and international exchange sprints to create tech innovation centres throughout the world, including one in the UAE in collaboration with Masdar City.
Kara Hurst, Vice President of Worldwide Sustainability at Amazon, said: “The path to rapid decarbonization is not simple or straightforward, and we need to partner with and highlight companies advancing the development of clean energy technology. Startups are at the forefront of much of the innovation that can help accelerate the energy transition. With the support of the Clean Energy Accelerator, this year’s cohort will be able to move faster to tackle the toughest challenges and create a cleaner, healthier planet.”
Energy, digital competencies, investment, public policy, innovation, and cutting-edge research are just some of the themes that will be covered by industry and thought leaders as they guide companies through the program. While AWS will offer direction on how to speed up experimentation, broaden automation, and give in-depth insights by using the cloud, leading energy corporations will collaborate with chosen startups to solve sustainable energy and decarbonization problems.
The selected finalists will get technical, business, and go-to-market mentoring from AWS, as well as up to $100,000 in AWS Credit through AWS Activate to jumpstart their cloud-based data and operations transformation.
The selected businesses will receive assistance on how to use Amazon’s Culture of Innovation and Working Backwards approach to establish solution alignment and speed trials. Supporting partners will also provide exposure and general help to the finalists. The program will finish with an Innovation Showcase during the United Nations Climate Change Conference (COP 28) in Dubai in November 2023.