TMCnet News
Social Innovation Meets Energy Transition: Bank of the West Honors Los Angeles Cleantech Incubator at Ninth Annual Philanthropy AwardsSAN FRANCISCO, Nov. 29, 2018 /PRNewswire/ -- Bank of the West has awarded Los Angeles Cleantech Incubator (LACI) its annual Philanthropy Award and related grant in recognition of the nonprofit's mission to transition society to renewable energy sources and increase participation of women entrepreneurs and people of color in the new, green economy. LACI will direct the Bank of the West Philanthropy Award's $100,000 grant toward integrating women entrepreneurs and underrepresented groups into the cleantech sector through access to capital, support within its world-class incubator, and workforce development programs. "The Bank of the West Philanthropy Award is just one highlight of our business and philanthropic commitment to economic growth, inclusion of underserved populations, and preservation of resources," said Pierre Ramadier, Senior Executive Vice President and Head of the Wealth Management Group. "We are pleased to recognize Los Angeles Cleantech Incubator for their socially and environmentally responsive approach to a sustainable future. Their programs and leadership are creating scalable businesses with a positive impact on society." Since 2011, LACI has helped more than 70 start-ups bring pioneering clean technology products or services to market. Their portfolio of companies, in areas such as zero emission transportation, water conservation, solar power, and eco-friendly consumer products, has generated $220 million in revenue and created approximately 1,700 jobs for diverse populations. View video to learn more about LACI. Earlier this year, the bank announced a $1 billion commitment to finance clean, efficient and renewable energy as part of a new multi-year effort to support a sustainable energy future. "We are honore to receive the 2018 Philanthropy Award," said LACI President and CEO Matt Petersen. "Recognition and support from Bank of the West will directly impact LACI's mission to provide pathways for underrepresented groups to work in the technology sector and participate in the new clean energy economy." Padma Lakshmi, host and executive producer of Emmy-winning show Top Chef, women's rights advocate, and philanthropist, was the guest speaker at the Bank of the West Philanthropy Awards event held at the Segerstrom Center for the Arts on November 28. About Bank of the West Deposit and loan products offered by Bank of the West, Member FDIC and Equal Housing Lender. © 2018 Bank of the West. Doing business in South Dakota as Bank of the West California. About the Bank of the West Philanthropy Awards About Los Angeles Cleantech Incubator Connect with us
View original content to download multimedia:http://www.prnewswire.com/news-releases/social-innovation-meets-energy-transition-bank-of-the-west-honors-los-angeles-cleantech-incubator-at-ninth-annual-philanthropy-awards-300757777.html SOURCE Bank of the West |