November 12, 2020
Growth Opps to advance clean energy in NEO
The George Gund Foundation has been a strategic partner of Growth Opportunity Partners (known as Growth Opps), which is an African American led non-profit organization and financial institution that supports the community by investing in people and businesses across Ohio. Today, the George Gund Foundation approved a grant to Growth Opps in the amount of $1.25 million, to support the meaningful development of community solar in Northeast Ohio. Earlier this year, the George Gund Foundation approved $2.3 million in seed funding, to support Growth Opps in creating a dedicated clean energy platform. Go Green Energy Fund, fueled by Growth Opps, is focused on bringing clean, equitable, and innovative solutions to neighborhoods and residents who have historically received marginal relative investment. This most recent investment by The George Gund Foundation, brings the total clean energy support to $3.55 million.
Growth Opps, with direct support from The George Gund Foundation, is actively creating and engaging models that will not only achieve energy savings for business owners, but will do the same for residents with additional opportunity to transfer equity to residents who enroll, creating wealth for those residents. Multiple locations are being identified in Northeast Ohio, as potential sites for community, commercial, and residential solar arrays. BC Hough has expressed interest in participating and has been working on a community solar solution in the Hough neighborhood of Cleveland, Ohio. Growth Opps is excited to work with BC Hough. The deployment of responsible financial solutions to neighborhoods like Hough creates an opportunity to bring follow-on investment, while creating Meaningful Wage Jobs.
“The George Gund Foundation is excited to continue to support Growth Opportunity Partners and its new efforts to advance clean energy in Cleveland and Cuyahoga County,” says John Mitterholzer, Program Director, Climate and Environmental Justice, The George Gund Foundation.
“Thanks to the support of the George Gund Foundation, Growth Opps is the first African American led Green Bank model in the country. This should not be overlooked, as minority and African American participation in clean energy is low. As a result, these communities may not have seen themselves in the future of energy, business, work, and relative personal consumption. Growth Opps seeks to change the narrative on clean and renewable energy, which will allow minority students to also see themselves in a future that is bright,” says Michael Jeans, President & CEO, Growth Opps.
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.
Company Climate Change Statement
Growth Opps is committed to becoming a leader in environmental sustainability. We believe the risks of climate change warrant the intentional actions of companies, governments, and individuals if we are to make meaningful progress. We believe it is our responsibility as global citizens, to take good care of the planet we inherited – a planet the world’s children will someday inherit, as well. As a result, we are active participants in public discourse, regarding environmental sustainability and actively seek opportunities to support clean, sustainable projects. Environment incubates life. At Growth Opps, we remain committed to improving the quality of life for all persons with a particular sensitivity to under-represented persons and groups.
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.