BUSINESS WIRE—The Wells Fargo Innovation Incubator (IN2), a $55 million energy technology program funded by Wells Fargo & Company and coadministered by NREL, a U.S. Department of Energy national laboratory, today announced the selection of three startups for its next cohort in the Emerging Tech track. This cohort focuses on enhancing resiliency in the built environment through innovative technologies that strengthen building operations, heating and cooling systems, and grid reliability.
“As our energy systems face growing pressure to perform reliably and efficiently, resiliency has become a strategic advantage for building owners and operators,” said Sarah Derdowski, IN2 program manager at NREL. “This cohort represents a focused effort to strengthen building-level independence and operational continuity, with each company bringing practical solutions that support long-term cost savings and system reliability. We’re proud to support their progress and accelerate scalable solutions across the built environment.”
Each startup selected received $250,000 in nondilutive funding to work with NREL’s leading researchers and utilize the laboratory’s state-of-the-art facilities. The companies were nominated by members of NREL’s exclusive Channel Partners network, a nationwide group of 60 incubators, accelerators, and universities that identify and refer high-potential startups aligned with IN2’s mission.
The selected companies in IN2’s 15th cohort are:
- MicroEra Power (Rochester, New York): MicroEra Power’s THERMAplus is a tunable thermal energy storage system that delivers flexible, reliable heating and cooling in buildings by shifting electrical load to off-peak hours, lowering costs and improving grid resiliency. MicroEra Power will collaborate with NREL Senior Researcher Chuck Booten.
- SkyCool Systems (Mountain View, California): SkyCool Systems develops passive cooling technology for commercial buildings that replaces condensers, cooling towers, and cool roofs by deflecting heat beyond Earth’s atmosphere. SkyCool Systems will work with NREL’s Ravi Kishore and Sajith Wijesuriya.
- Verv Energy (Los Angeles, California): Verv Energy uses artificial intelligence to optimize HVAC and refrigeration performance, helping buildings cut costs with monitoring, control, and predictive maintenance. Verv Energy will collaborate with NREL Researcher Landan Taylor.
The startups completed their onboarding at NREL’s Golden, Colorado, campus in August and began tailored research collaborations for their specific technology. In addition to technical validation and support, participating companies will gain access to IN2’s growing ecosystem of investors, adopters, and market partners. This will include connecting directly with IN2’s Scalable Tech track participants, corporations and municipalities adopting validated technologies, to gain valuable insights on their specific business needs, deployment challenges, and innovation priorities.
“Wells Fargo is proud to support innovators who are bringing solutions to strengthen building operations,” said Jeff Schub, head of sustainability at Wells Fargo. “Our ongoing work with IN2 helps develop and deploy technologies that improve reliability, reduce costs, and enhance operational resilience.”
With the addition of this 15th cohort, IN2’s portfolio now includes 77 startups working across the built environment, grid, agriculture, and infrastructure sectors. To date, IN2 portfolio companies have raised more than $2.6 billion in follow-on funding, and 21% have exited via acquisition or initial public offering.
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