MINNEAPOLIS, November 18, 2020 / PRNewswire / – Brown Venture Group LLC, a venture capital firm formed to fund Black, Latino and Native American tech entrepreneurs, announced its partnership with KWH evolution, SARL (www.ecokwh.com), an electric mobility technology company, to provide its first round of equity financing.
Ecolution recently received a US patent for its process which uses kinetic energy “wasted” in moving vehicles to generate electricity in a large-scale micro-grid. Ecolution will develop prototypes of its revolutionary technology on three continents. A partner of electric service trucks, the company’s primary goal is to transform the distribution of food and medicine into a net zero carbon industry by eliminating current dangerous levels of carbon emissions globally.
The commercial transport sector is the largest source of greenhouse gas emissions in the world. United States. Contributing emitters include refrigerated trailers and refrigerated containers on rail cars and ships. Ecolution’s proprietary technology eliminates tanks of diesel gas in these trailers and containers on rail cars while providing the clean electricity needed to power the refrigeration units. The technology also significantly reduces the weight of the trailer or wagon, allowing for greater transport capacity.
Brown Venture Group was founded in 2018 by innovation consultant and entrepreneur Dr. Paul Campbell and fundraising and diversity coach Dr. Chris brooks in order to raise $ 50 million for its inaugural fund. In 2020, Brown Venture Group expanded its management team to include a long-time business executive Jerome Hamilton and successful entrepreneur Chris Dykstra.
“This is an exciting way for Brown Venture Group to launch our fund with transformative technology that will benefit our environment by dramatically reducing carbon emissions,” said Paul Campbell, co-founder and CEO of Brown Venture Group. “Our goal is to provide leadership to major financial and industrial institutions trying to bridge the gap in economic and social disparities. Hopefully they see Brown Venture Group as a platform to accelerate social initiatives.”
“Our partnership with Brown Venture Group will enable our customers to generate, store and distribute sustainable energy,” said Johanne Medina Then, CEO of Ecolution. “As a minority-controlled company, we understand the challenges of bringing revolutionary ideas to fruition. Partnering with Brown Venture Group allows us to take this important first step. We will soon start saving our planet.”
Ecolution was founded by Latin American tech entrepreneurs. Its technology generates clean energy on a large scale in trailers, train cars and metro cars.
About Brown Venture Group
Launched in 2018, Brown Venture Group, LLC is a venture studio venture capital firm exclusively for Black, Latin American and Native American tech startups. Brown Venture Group is writing a new playbook for those looking to launch a minority-owned tech startup and those looking to invest in new technology. For more information, visit brownventuregroup.com.
About Écolution KWH
Since its creation in 2016, Ecolution KWH’s team of experienced entrepreneurs, owned by a minority, has developed an innovative method of capturing and reusing “wasted” kinetic energy. Its patented technology does not require any motor and is now entering the proof of concept phase. The development of the prototype will allow electricity and logistics companies to assess the advantages of the invention, Active Response System Module (MARS), for refrigerated trailers (“reefers”), which are carried by approximately 20% of trucks. in the United States at all hours. Future deployments will include rail and maritime applications. For more information, visit ecokwh.com
SOURCE Brown Venture Group LLC