Hawai‘i’s Sustainability Heroes: Elemental Excelerator

The climate-tech accelerator helps fund food, energy and transportation solutions in Hawai‘i and around the world.

Elemental Excelerator, a global clean technology accelerator based in downtown Honolulu, aims to drive positive change and propel entrepreneurs toward a sustainable future.

Since its launch in 2012, Elemental has accumulated “one of the largest climate technology portfolios in the world with over 150 portfolio companies, and those companies have over $8 billion in additional funding,” says Dawn Lippert, CEO and founder of Elemental.

The accelerator devised a five-year strategy in 2021 that focuses on three pillars: investing in startup success; partnering deeply with businesses, community leaders and policymakers; and inspiring action. Lippert says the organization’s goal is to facilitate the scaling of food, energy and transportation solutions that improve the lives of people.

As an example, Lippert says, Elemental helped facilitate a partnership between two of its companies – the Hawai‘i Ulu Cooperative and Propagate, a software and farm services company – to enable the growth of ‘ulu agroforestry on Hawai‘i Island.

While the accelerator provided the grant funding to start the partnership, the companies were eventually awarded part of federal grant from the USDA’s Climate Smart Commodities program.

Lippert says the companies found that ‘ulu farms with at least one other crop can be more profitable than just ‘ulu, which could provide a framework for growth.

Elemental also launched its Earthshot Ventures capital fund in 2021 and has since raised $95 million in funding – double its target, according to Lippert. The fund invests in climate repair companies and entrepreneurs.

Earthshot Ventures shares profits with Elemental, and Lippert notes that two of the accelerator’s three Earthshot partners are based in Hawai‘i.

Lippert says Elemental has also been busy with its Elemental Policy Lab, which gives entrepreneurs the opportunity to connect with policymakers and other leaders in the climate tech sector.

“We are focused on helping local communities and startups take advantage of funding provided by the Inflation Reduction Act,” says Lippert. That federal law includes billions of dollars in funding and resources to boost clean energy.

The accelerator had 76 interns this year participate in its Empowering Diverse Climate Talent program, which aims to create a diverse pipeline of talent for the climate sector.

Elemental will announce its 12th cohort of companies in October.

“Climate change isn’t slowing down, so neither can we,” Lippert says.

“As we continue to grow, a key question we ask ourselves is, ‘Will this help advance climate solutions and social impact at 100 times the speed or scale?’ ”