Gemini Energy Solutions is one of four Black businesses to receive at least $500,000 in investment funds to boost their companies in the clean energy, IT, workforce development and real estate development industries.

Gemini received $1 million for its energy audit and cleantech company to continue scaling its clean energy hubs that serve as revenue-generating microgrids, including rooftop and carport solar panels, electric vehicle chargers, and HVAC and lighting solutions.

Pepco, the parent company of Exelon, a large U.S. electricity generator and distributor based in Chicago, distributed the funding.

“Earlier this year, community leaders, local officials, and stakeholders joined Pepco and our parent company Exelon as we announced $2.7 million in investments for four local minority-owned businesses that will help each business grow and ultimately strengthen under-resourced communities in our region,” a statement reads.

The funding is provided through the Exelon Community Impact Capital Fund (formerly known as the Racial Equity Capital Fund), which helps expand access to capital for businesses in historically disenfranchised or socio-economically disadvantaged communities in Exelon’s service areas so they can create more jobs, grow their companies and reinvest in their neighbourhoods.

The fund is managed in partnership with RockCreek, one of the world’s largest diverse-owned global investment firms. Further, it delivers on our commitment to drive economic equity and opportunity for our customers and communities.

Other winners include PS2G (Public Sector Solutions Group), which received a $600,000 debt investment. It provides IT consulting services and innovative solutions. PS2G also trains residents in the District and Maryland in cybersecurity and information technology through the Walter Reed IT Infrastructure Academy and in partnership with Exelon and Pepco.

CJR Development Partners also received a $600,000 debt investment. The woman-owned small business firm advises on public-private partnerships and specializes in creating mixed-use developments and affordable housing communities.

Moreover, Escalate received a $500,000 equity investment. The workforce development platform brings together educational and artificial intelligence resources to improve the retention of frontline workers. Based in Silver Spring, Maryland, the company supports frontline workers to drive retention and positive work environments.