Wells Fargo and the Cleantech Open Competition

 Wells Fargo and the Cleantech Open Competition

Wells Fargo & Co., is showing its support forsustainability through its investments in the Cleantech Open and theNational Cleantech group.

According to Newsweek magazine’sinaugural "Green Rankings" of the 500-largest US companies, Wells Fargois ranked #1 among banks and insurance companies and No. 13 overall.

"Supporting clean technology is a priority for Wells Fargo, because we believe thesector will continue to grow and play a critical role in a greenereconomy," said Puon Penn, head of Wells Fargo’s National CleantechGroup.

Wells Fargo & Company is a diversified financialservices company with $1.2 trillion in assets, providing banking,insurance, investments, mortgage and consumer finance through more than10,000 stores and 12,000 ATMs and the internet across North America andinternationally.

The Company promotes economic growth andself-sufficiency, education, social services, the arts and theenvironment in thousands of communities across North America. In 2009,the Company gave $202 million in grants to 18,000 nonprofits, and teammembers contributed more than 1.2 million volunteer hours around thecountry.

Wells Fargo & Co. is behind the Cleantech Open, theworld’s largest cleantech business competition. Its mission is to find,fund and foster entrepreneurs with big ideas that address today’s mosturgent energy, environmental and economic challenges. The programprovides the infrastructure, expertise and strategic relationships toturn ideas into successful global cleantech companies.

Since2006, through its one-of-a-kind annual business competition andmentorship program, the Cleantech Open has helped hundreds of cleantechnology startups bring their breakthrough ideas to fruition, helpingalumni contestants raise over $200m and creating an estimated 1,200green collar jobs. Fueled by a network of more than 750 volunteers andsponsors, the Cleantech Open unites the public and private sectors in ashared vision for making America’s cleantech sector a thriving economicengine.

In 2009, Wells Fargo introduced its National Cleantechgroup, a division of the company’s commercial banking group dedicated to supporting clean technology companies. The group provides customizedcommercial banking products and services to businesses that manufacture, market or develop clean technologies such as solar and wind power,energy and water efficiency, electric and low-emission vehicles, andsmart grid applications.

See the list of CleantechOpen finalists for 2010. For more information, visit Cleantech Open, and follow @cleantechopen on Twitter. For more about WellsFargo’s achievements in Social Responsibility go to their CSR page.

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