MassCEC BRIDGES Program Now Accepting Applications
The Bridging Recovery for Innovators Driving Green Energy Solutions (BRIDGES) Program, created by the Massachusetts Clean Energy Center (MassCEC), is currently accepting applications from clean energy startups in need of support in light of the COVID-19 pandemic.
The BRIDGES Program is a limited $1,500,000 investment program that provides emergency gap funding in the form of convertible notes to clean energy startups that have previously received funding from certain MassCEC investment and innovation grant programs. The funding is available to green starups that are currently experiencing disrupted operations, disrupted sales, disrupted supply chains, weakened demand, or a lack of access to financing because of the coronavirus pandemic. By making these funds available to companies, the program aims to support the continuity of startups advancing critical technologies, preserve jobs and business activities in the Commonwealth, and attract additional capital to the clean energy sector.
Companies selected for a BRIDGES investment will also have the opportunity to be considered for an additional investment from Breakthrough Energy Ventures, which has committed an additional $1,000,000 of funding to back the MassCEC and the BRIDGES program.