February 3, 2020
The George Gund Foundation awards grant
to establish clean energy fund
CLEVELAND, OHIO (March 2, 2020) – The George Gund Foundation supports organizations led by and serving communities of color and others who historically have been underrepresented and are the most vulnerable to the effects of climate change. The support is shown through advocacy of public policy on climate change and investment in the organizations that work to mitigate climate change. Growth Opps received a $2 million PRI and a $300,000 grant to establish a clean energy fund, which will finance small scale clean energy projects.
The George Gund Foundation, The Cleveland Foundation, and Cuyahoga County approved a $50,000 contract to the Coalition for Green Capital, to complete a Market Opportunity Analysis in February of 2019. The analysis lay the groundwork for the establishment of a Green Bank model at Growth Opps.
Thanks to the support of the Gund Foundation, Growth Opps is the first African American led Green Bank in the country. This should not be overlooked, as minority and African American participation in clean energy is low. As a result, these communities have not seen themselves, in a meaningful way, in the future of energy, business, work, or relative personal consumption. Growth Opps is changing the narrative on clean and renewable energy, which will allow minority students and young professionals to also see themselves in a future that is bright.
Visit The George Gund Foundation website to view the announcement.
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About Growth Opps
At Growth Opportunity Partners (“Growth Opps”), we offer community development capital, services and solutions to growing small businesses, primarily located in underserved, low and moderate income (LMI) communities in Ohio. GO Advisory accesses industry expertise and diverse talent to provide the solutions you need to address challenges your company faces. GO Capital is tailored to fund your business model when you need it.
About The George Gund Foundation
The George Gund Foundation was established in 1952 by George Gund, former chairman of the Cleveland Trust Company. The Foundation funds programs that enhance our understanding of the physical and social environment in which we live and increase our ability to cope with its changing requirements. Grants are made three times a year in the areas of education, human services, economic and community development, environment and arts. Foundation commitments to date have totaled almost $746 million.