December 6, 2016
London – The Fire Awards have announced the selection of four finalists to pitch their financial innovations for the acceleration of green growth at the annual Bloomberg New Energy Finance Future of Energy Summit in April 2017.
The four finalists were selected by the Fire Advisory Panel, consisting of experts in finance, clean energy, and green infrastructure, from a record number of idea submissions following a joint call for ideas with the Global Innovation Lab for Climate Finance. Selection was based on review of the proposals against Fire criteria: actionability, innovation, catalytic potential, and financial sustainability.
The Fire Awards will pair each finalist with a coach to help them prepare for their pitch to an audience of over 1,000 investors and leaders at the BNEF Summit, where the audience will vote for 2 winners. Winners will receive support from a working group of experts to achieve the next steps in expanding their model and impact.
The four Fire Awards finalists are:
- Electric Bus Battery Service Agreements: A new lease financing model, introduced by Proterra, for their zero-emission buses that lowers up-front costs to make them competitive with fossil fuel-powered buses
- Solar Agro-processing Power Stations: An initiative led by Village Infrastructure Angels, to improve living standards in rural villages by delivering solar solutions tailored to local needs
- Online Financing of Clean Energy Projects: An online clean energy project financing platform, introduced by Repower Capital Inc, that aims to double the percentage of mid-sized projects that get financed from 5 to 10% by reducing transaction costs and matching projects directly with profiled investors
- Global Fleet of Modular Moveable Megawatt-scale Solar Assets: A new asset facility introduced by SunSHIFT and Laing O’Rourke to back a global fleet of moveable and modular solar farms, that can deploy 10 MW of solar power in the first year
The Fire Awards accelerate powerful, early-stage pilots and businesses that can unlock finance for clean energy and green growth. Climate Policy Initiative serves as the secretariat for the Fire Awards, which collaborates closely with the Global Innovation Lab for Climate Finance (The Lab). Fire is funded in part by Bloomberg Philanthropies, and Bloomberg New Energy Finance provides in-kind support.