Tag: 3BL

Nasdaq

Written by Nasdaq in partnership with Daryl Kennedy from Piva Capital

Climate tech startups are proving very attractive to investors. Venture capital (“VC”) funds with an explicit decarbonization focus announced $10 billion of new capital raised in 2022, contributing to a total $63 billion of new dry powder for climate solutions across all private equity asset classes. [1] Despite tough market conditions in 2022, venture deals for climate-focused companies totaled over $26 billion in 2022 – more than double the average amount raised by any other vertical. [2] In addition, the largest IPO to date in 2023 happens to be climate-focused solar technology company Nextracker, which made its public market debut on February 9 with a $638 million IPO. [3]

Investors—especially VCs—are not only focusing on climate tech, but also adding responsible investing practices focused on environmental, social, and governance (“ESG”) considerations to their toolkit. Pitchbook’s annual Sustainable Investment Survey found that the percent of general partners (“GPs”) who have fully integrated sustainable investment principles throughout their portfolio rose from less than 40% in 2021 to over 45% in 2022. 45% of VC respondents said they were most focused on the positive environmental impacts of investments over other aspects of ESG, compared to 35% of their non-VC counterparts. This emphasis suggests VCs in particular see enabled emissions reductions of their portfolio companies as a key element of fund value creation and strategy.

The intersection of these two trends, climate tech startup investment and venture capital responsible investment focus, poses an interesting question: How can VC-backed climate tech companies work together with their investors to advance responsible business practices? Startups already addressing climate change through their core products and services should consider:

ESG integration: Understand how VCs incorporate non-financial considerations into their investment processes and address these considerations in your business early on.Impact measurement: Quantify metrics—especially carbon impact—to powerfully tell your business story. Enabled emissions reduction often correlates directly with revenue generation.IPO preparation: As early as practical, thoughtfully integrate sustainability information into operations to optimize exit valuation when going public.

Continue reading here.

[1] Climate Tech VC newsletter: New dry powder for a new climate

[2] Data from PitchBook as of January 28, 2023

[3] Bloomberg: Nextracker jumps up to 29 after 638 million US IPO

Eaton named to Newsweek’s Top 100 Global Most Loved Workplaces® list.Great Place To Work® certifies Eaton for dedication to employees and culture.

CLEVELAND, June 6, 2023 /3BL Media/ – Intelligent power management company Eaton (NYSE: ETN) today announced it was named to Newsweek’s 2023 Top 100 Global Most Loved Workplaces® list. In addition, Eaton was Certified™ for the first time by Great Place to Work®, the global authority on workplace culture, employee experience, and leadership behaviors required for market-leading revenue, employee retention and innovation.

The honors are based on independent anonymous surveys administered to employees to assess their job satisfaction. Areas such as inclusion, diversity, equity, belonging, career development and company leadership were identified and analyzed.

“Our designation as a Great Place to Work® and recognition as one of the Top 100 Global Most Loved Workplaces® sets us apart as one of the top companies for employees,” said Ernest Marshall, executive vice president and chief human resources officer. “We know that our people are our greatest asset, and we are always striving to find new ways of working to ensure their safety, health, wellness and success.”

Nancy Cooper, global editor-in-chief of Newsweek, emphasized the significance of a positive culture, stating, “The companies featured on the 2023 Global Most Loved Workplaces® list embody this transformative spirit, proving that when companies prioritize their people, success naturally follows.”

Eaton ranked No. 63 out of 100 companies on Newsweek’s 2023 Top 100 Global Most Loved Workplaces® list and has made Newsweek’s America’s Most Loved Workplaces® list twice, ranking No. 72 in 2022 and No. 74 in 2021. In January, Newsweek also named Eaton one of America’s Greatest Workplaces for Diversity and awarded the company with five out of five possible stars.

Great Place To Work® Certification™ is the most definitive “employer-of-choice” recognition that companies aspire to achieve. It is recognized worldwide by employees and employers alike and is the global benchmark for identifying and recognizing outstanding employee experience. Every year, more than 10,000 companies across 60 countries apply to get Great Place To Work-Certified.

Eaton is an intelligent power management company dedicated to improving the quality of life and protecting the environment for people everywhere. We are guided by our commitment to do business right, to operate sustainably and to help our customers manage power ─ today and well into the future. By capitalizing on the global growth trends of electrification and digitalization, we’re accelerating the planet’s transition to renewable energy, helping to solve the world’s most urgent power management challenges, and doing what’s best for our stakeholders and all of society.

Founded in 1911, Eaton is marking its 100th anniversary of being listed on the New York Stock Exchange. We reported revenues of $20.8 billion in 2022 and serve customers in more than 170 countries. For more information, visit www.eaton.com. Follow us on Twitter and LinkedIn.

Contact:

Drew Horansky 
(216) 374-4968 
DrewAHoransky@Eaton.com

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Originally published in GoDaddy’s 2022 Sustainability Report

Innovation

We’re focused on evolving to deliver for our customers.

The world is constantly changing — and so are the needs of the entrepreneurs we serve. At GoDaddy, we’re determined to stay ahead of the curve for our customers by evolving our products through experimentation and innovation.

A Culture of Experimentation

Over the last few years, we’ve made an intentional shift toward a culture of experimentation. Centered on serving our customers, this cultural mindset makes it easier for the entrepreneurs we support to leverage our tools — from elevated commerce and social platforms to website hosting solutions — and propel their businesses forward.

In 2022, we started several new controlled experiments each day. We also initiated the Experimentation Showcase to further our test- and-learn culture. As part of this showcase, teams created experiments to enhance our customers’ experience and submitted them for review. Selected experiments are featured in a live, cross-company showcase.

BUGBASHES 
In 2022, we hosted events called Basharama and BasharamaToo to put teams across GoDaddy in our customers’ shoes to experience our products 
from their point of view and identify improvement opportunities.

Technological Innovation

In 2022, we developed the GoDaddy Tech Manifesto, which powers our technological innovation and provides the GoDaddy community with a set of technology principles to support our strategy. These principles include simplicity, abstraction, consistency, extensibility, connected data and a commitment to iterate.

With this solid foundation in place, it makes it easier for our teams to make the right decisions quickly, increasing both the velocity and quality of delivery. These principles build on our existing engineering principles: security, speed of delivery, performance, availability, quality, and embracing inner source and open source communities to foster innovation.

To keep our technology teams working in alignment and to promote transparency and cross-company collaboration, GoDaddy uses Tech Radar, a forward-looking summary of GoDaddy’s global technology strategy. In 2022, we launched the Tech Radar Tuesday series to highlight new technologies and encourage engagement across relevant teams.

Acquisitions

As a part of our constant evolution to meet our customers’ changing needs, GoDaddy made key acquisitions in 2022 to enhance and accelerate our strategic and financial objectives:

Dan.comDNA Academy

About This Report 
Unless otherwise noted, the GoDaddy 2022 Sustainability Report outlines our environmental, social and governance (ESG) strategies, activities, progress, metrics and performance for the fiscal year that ended on December 31, 2022. This report references the Global Reporting Initiative (GRI) Standards and includes select Sustainability Accounting Standards Board (SASB) Standards metrics for the Internet Media and Services sector.

GoDaddy is committed to regular, transparent communication about our sustainability progress, and to that end, we will share updates on an ongoing basis through our website and will continue to publish an annual Sustainability Report.

To learn more, please read our 2022 Sustainability Report.

OVERLAND PARK, Kan., June 6, 2023 /3BL Media/ – From the challenges of chronically aging infrastructure and regulatory and climate change pressures to opportunities such as data’s promise and an infusion of federal funds, the U.S. water sector’s complexities continue to evolve amid pushes for greater sustainability and resilience, the newly released Black & Veatch 2023 Water Report shows.

The report – expert analysis of survey responses from roughly 450 U.S. water industry stakeholders – details a sector still grappling with aging water and sewer infrastructure as its chief concern, followed by challenges of an aging workforce and efforts to hire qualified staff. Money issues – from justifying capital improvement programs to rate requirements and managing capital and operational costs – remain other top concerns, along with regulatory mandates.

Resilience and sustainability remain a prevailing theme, with two-thirds of respondents citing sustainability – what Black & Veatch defines as the need to serve the current generation while safeguarding the needs of future generations – as a critical strategic focus. Along the way, the survey shows promising evidence that the industry continues to wage a digital transformation – a key driver to resilience and sustainability, promoting better decision-making and optimal use of aging assets in a rate-restricted sector.

Headwinds add to the complexities of today’s water industry, from the impacts of climate change to the shifting regulatory landscape that includes the U.S. Environmental Protection Agency’s March announcement of its long-expected National Proposed Drinking Water Rule (NPDWR) to regulate a new category of toxins in drinking water. Worries about cyberattacks also haven’t abated.

But opportunity knocks, certainly on the funding front. The Infrastructure Investment and Jobs Act (IIJA) — or the Bipartisan Infrastructure Law (BIL), enacted in late 2021 as the largest federal investment in water in U.S. history – commits tens of billions of dollars to the sector. But just slightly more than one-quarter of respondents say their enterprise has applied for or will go after that funding, while more than four in 10 haven’t explored it nor have plans to pursue it.

“Throughout the ecosystem of U.S. water utilities, stakeholders continue to demonstrate agility and forward thinking as part of a “One Water” mindset that all forms of water — from drinking water to wastewater, stormwater, reclaimed water, indirect and direct potable reuse, and groundwater — are a singular resource to be managed sustainably,“ said Mike Orth, president of Black & Veatch’s governments and environment business.

“Headwinds in the form of regulatory uncertainty and climate change impacts accompany vast opportunities, from the full, powerful potential of data – what we call “digital water” – to the infusion of federal funding for an array of infrastructure upgrades illustrate the intensifying complexities and the promise of water,” Orth added. “The time is now to leverage innovation for the broader holistic integration and modernization that these times demand.”

The new report highlights a U.S. water sector – a fragmented industry, with more than 50,000 water utilities and 16,000 wastewater utilities – discovering new ways of doing business by holistically leveraging integrated approaches to both planning and delivering strategic, financial and operational resilience.

Some other key findings of the report include:

Roughly half of respondents report that their utility has sustainability goals and the means to measure them.Two-thirds cited affordability as their biggest hurdle in achieving sustainability strategies.Roughly four in 10 rated themselves as “very confident” about the resilience of their water supplies. An additional 44 percent of respondents cited “somewhat confident.”Two-thirds of respondents reported positive results when asked to what extent their enterprise’s data or digital solutions strategy is achieving objectives.More than half of respondents stated they are not leveraging data they collect effectively, a slight increase from 49 percent last year.U.S. water utilities are prioritizing investments in water reliability and resilience (61 percent), asset rehabilitation and renewal (56 percent), cybersecurity (50 percent) and regulatory compliance for PFAS (49 percent) as their top investments for their utility or municipality over the next decade.Eight in 10 respondents say cybersecurity is the most important investment in the security of their assets. But only 57 percent believe physical security — a prerequisite for cybersecurity — is the most critical investment.Forty-five percent consider new federal funding programs as too restrictive, up from 27 percent last year. Forty-six percent label them administratively too burdensome, an increase of 9 percent points from 2022.Identical to 2022’s results, half of the respondents reported that consumers had little understanding between the cost of producing safe water and the current rates they pay.More than half of respondents envision investing in additional treatment processes or significant new treatment technologies, though their time horizons vary.

Editor’s Notes: 

A free copy of the report is available for download here.

About Black & Veatch 
Black & Veatch is a 100-percent employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2022 were US$4.3 billion. Follow us on www.bv.com and on social media.

Media Contact Information:

JIM SUHR | +1 913-458-6995 P | SuhrJ@BV.com 
24-HOUR MEDIA CONTACT | Media@bv.com

BRIDGEWATER, N.J., June 6, 2023 /3BL Media/ – CRB, a leading global provider of engineering, architecture, construction, and consulting solutions to the life sciences and food and beverage industries, announces its 22nd office opening in Bridgewater, New Jersey. The office becomes CRB’s fifth Northeast location, joining spaces in the Philadelphia, Boston, Washington, D.C., and Toronto, Canada, areas and bringing the company’s innovative project delivery teams and subject matter experts even closer to clients in one of the largest and most influential biopharma clusters in the world.

The office, which adds to 21 existing CRB locations across the U.S., Canada and Europe, is led by Paul Shapiro, CRB’s New Jersey Director and Office Leader with more than 30 years of experience in engineering design, leadership, and project management. Drawing from CRB’s deep bench of internationally recognized industry thought leaders, the New Jersey office positions CRB to capture an even larger share of the Northeast biopharma market. Clients are increasingly seeking integrated project delivery, design, construction, pre-construction and procurement services to scale their products from research and development through to commercial-scale production.

Shapiro is among CRB’s project leaders with deep experience in the company’s ONEsolution™ lean project delivery approach, which leverages the combined expertise and technical excellence of a single project team to align with clients on cost and schedule without sacrificing safety or quality. The approach has been critical to the global COVID-19 response, with several vaccine manufacturers partnering with CRB’s design and construction teams to deliver facilities that could quickly address the world’s urgent vaccine demand.

“Opening in New Jersey keeps us close to new and core clients while providing us direct access to the region’s wealth of engineering, design, construction and architecture talent,” said John Costalas, Vice President for CRB’s Northeast region. “The Northeast U.S. is a global driver of innovative therapies and drugs that are critical in the war on disease, and we’re privileged and excited to support our clients from the New Jersey, New York and Connecticut Tri-State Region.”

With easy access to highways and numerous popular dining and retail options, CRB Bridgewater is convenient for clients and employees and just an hour’s train ride from New York City. The office itself is an expression of CRB core values with an employee-centered collaborative and daylit environment. Significant investment in furnishings and technology will support an in-office experience consistent with CRB’s offices around the globe. Additional building amenities include a fitness center, cafeteria and an outdoor courtyard for client and employee gatherings.

About CRB:

CRB is a leading global provider of sustainable engineering, architecture, construction, and consulting solutions to the life sciences and food and beverage industries. Our innovative ONEsolution™ service provides successful integrated project delivery for clients demanding high-quality solutions — on time and on budget. Across 22 offices in North America and Europe, the company’s nearly 1,800 employees provide world-class, technically preeminent solutions that drive success and positive change for clients and communities. See our work at crbgroup.com, and connect with us on social media here.

CONTACT:

Clarity Quest Marketing: 
877-887-7611 
Bonnie Quintanilla, bonnie@clarityqst.com

CRB: 
816-200-5234 
Chris Clark, chris.clark@crbgroup.com

Koch Disruptive Technologies co-led an $8 million seed round into Neura Health, a virtual neurology clinic connecting patients with the top specialists in headache medicine.

Neura provides unlimited access to an online care team, including biweekly care coaching sessions and personalized support.“Moving forward, we plan to expand our solution beyond the headache and migraine to other major neurological disease categories, such as sleep disorders and neurological pain. We’re excited to enter the enterprise market so that we can help more people get the care they need. I’ve been there, so I know how much they need it and deserve it,” co-founder and CEO Elizabeth Burstein told Forbes.

WHY IT MATTERS: Affecting about 14% of the United States population, according to the American Migraine Foundation, migraines are the second leading cause of global disability and first among young women.

A report in the peer-reviewed journal Headache showed measurable benefits to patients, with a 73% median decrease in the number of emergency room and urgent care visits, 75% median decline in headache frequency and 67% median reduction in headache severity after three months of membership to Neura.

WHY KOCH INVESTED: “Neura has built a proven solution to provide relief for individuals experiencing headache and migraine disorders,” KDT Managing Director Brendon Durkin told Forbes. “We’re excited to support Neura as it embarks on its next phase of growth – bringing its solution to more people via an expanded go-to-market strategy and making a significant impact for those living with major neurological conditions.”

Norwest Venture Partners is co-leading the investment with KDT, along with pre-seed investors Pear VC, Next Play Ventures and new investors Correlation Ventures and Plug and Play Ventures.

GO DEEPER: Healthcare is one of KDT’s investment areas, focused on patient treatment and outcomes. Other recent investments in the space include Oshi Health, a company transforming virtual treatment for digestive issues, and ArteraAI, which develops multimodal artificial intelligence-based predictive and prognostic cancer tests.

Read more about the investment at Forbes.

Over the past few months, Southwire recognized Martin Luther King Jr. Day., Black History Month, Women’s History Month and more by hosting efforts across the company that provided team members with resources and opportunities to get more involved and learn more about these topics.

Many of these efforts were led by over 30 TEAM Champions located at facilities across the organization. These individuals are committed to advancing diversity, equity and inclusion initiatives at their local sites and facilities and are equipped with the tools to influence and lead change.

In January, we honored Martin Luther King Jr. Day on Monday, Jan. 16, to celebrate the life and achievements of Dr. Martin Luther King Jr., an influential American civil rights leader.

In celebration of Martin Luther King Jr. Day, facilities across the organization honored his legacy by wearing clothing designed to represent the holiday, creating “quote walls” for team members to share their favorite and most inspirational MLK quotes, reading his book ‘Where Do We Go From Here: Community or Chaos’ for the company-wide book club, participating in local parades and doing community service activities.

“Our facility is very dedicated to celebrating many different events and holidays as we have a wide range of cultures and backgrounds that are a big part of our team,” said Albany Turner, TEAM champion in Youngsville and sales support specialist. “We look at Martin Luther King Jr. as a role model as we try to build a loving and inclusive environment for all team members.”

Throughout February, in honor of Black History Month, Southwire facilities came together to celebrate and acknowledge the contributions, achievements and experiences of African Americans throughout history. Facilities put together various activities and learning opportunities for team members to participate in.

“During Black History Month, the Waukegan Plant focused on educating our workforce on the importance of this month and celebrated by passing out goodie bags, stickers and bookmarks with famous black inventors on them,” said Allison O’Connell, People & Culture specialist. “Our focus was to educate our team members about the significance of the month by having conversations designed for them to learn something new and impactful.”

In March, Southwire celebrated Women’s History Month, which is dedicated to honoring and celebrating women’s contributions to history, culture and society around the world, by coming together to honor and recognize the important role women play in our workforce.

“To celebrate Women’s History Month, MSG and General Services displayed different women that have contributed to our country on our display board and passed out flyers,” said Barbara Armstrong, EHS specialist and TEAM Champion. “I think it is important to show that women have made a major contribution to the workforce and are continuing to break barriers every day.”

Furthermore, Southwire also hosted a Fireside Chat on the topic of women in manufacturing with Ruth Shaw, a former member of Southwire’s Board of Directors. Shaw discussed her experiences as a prominent woman in manufacturing and gave her views on what she sees for the future of this industry regarding gender diversity.

“As we look to the future, I hope that we come to have a respect for each other as human beings and a recognition that we all do better together,” said Shaw. “I believe we will continue to see more progress toward a more inclusive workplace.”

In addition to these larger efforts, Southwire facilities also celebrated Honduran Women’s Day, Lunar New Year, Wear Red Day, Valentine’s Day, St. Patrick’s Day and highlighted the winners of its Super Bowl Contest.

To learn more about Southwire’s commitment to diversity, equity and inclusion, click here. For more Southwire news, visit www.southwire.com/newsroom.

June 6, 2023 /3BL Media/ – Five major U.S. health care systems today released an open statement affirming their commitment to responsible business practices that take the severe public health and financial risks of the climate crisis into account.

Signed by Providence, Boston Medical Center, CommonSpirit, HealthPartners, and Hackensack Meridian, the statement comes amid widespread efforts by a group of state and federal lawmakers to pass policies designed to ban private-sector actors that account for these risks. It is addressed to policymakers and emphasizes that signatories are making business decisions that address climate change because it is a risk both to public health and to their ability to provide health services.

“Bottom line: Climate change poses a material financial and public health risk to the entire health care sector. Just as we address other risks to our complex operations, we will make long-term, climate-smart investments that limit our exposure to climate risk. We will increase our deployment of renewable energy, invest in energy efficiency measures, and ensure that our buildings and facilities are resilient,” the signatories wrote. “Growing evidence indicates that these efforts yield significant and wide-ranging cost savings, reduced risk and increased stability for organizations and the communities they serve, and improved corporate performance.”

The full text of the statement is available here. It was organized by Health Care Without Harm and Ceres.

“Climate change is a serious threat to public health and the communities we serve. As a health care leader Providence is taking bold action to reduce our climate impacts by working toward becoming carbon-negative by 2030. As we advance our vision to build a healthier and more equitable world, we make strategic decisions to confront the climate crisis, and we value partnerships with government, agencies, and organizations that enhance our ability to do so,” said Ali Santore, EVP, Chief Advocacy and Social Responsibility Officer, Providence.

“In the communities we are privileged to serve, CommonSpirit Health sees firsthand the devastating effects that climate change has on public health and the economy. We view business practices that limit these effects — from adopting clean energy to building resilient facilities — as a common-sense risk management strategy with clear financial benefits. We are proud to join with our peers to reaffirm our commitment to business decisions that are good for public health, for the climate, and for the bottom line,” said Shelly L. Schlenker, MHA, EVP, Chief Advocacy Officer, CommonSpirit Health.

“Healthier hospitals mean healthier communities, which is why we are committed to operating our campus as cleanly as possible to achieve our public health mission. Our efforts to reduce greenhouse gas emissions not only help to reduce the effects of climate change, but they also generate $10 million per year in utility savings that we have reinvested in patient care. We have no intention to change these business practices, and believe that any interference would hurt our hospital, our patients, and our community,” said Bob Biggio, SVP Facilities & Support Services, Boston Medical Center.

“Beyond our belief that addressing the environmental and social impacts of health care’s operations is part of our moral imperative, growing evidence indicates that these efforts yield significant and wide-ranging benefits. This includes substantial cost savings, reduced risk and increased stability for health care organizations and the communities they serve, as well as improved corporate performance,” said Gary Cohen, Founder and President, Health Care Without Harm.

The health care leaders are just the latest to join a growing number of public and private sector voices championing the freedom to invest responsibly, as policymakers across the country — especially at the state level — move to restrict financial institutions from considering the economic and financial risks of the climate crisis in their decision-making.

In March, more than 250 companies and investors signed a statement to policymakers demanding that they protect their freedom to invest responsibly; the list of signatories on that statement has since grown to more than 350. More than a dozen state and other public financial officers who are charged with protecting taxpayer dollars and the livelihoods of pension beneficiaries issued their own statement voicing support for responsible risk management practices. And, in May, more than 130 academics signed a statement supporting practices that protect investors from the effects of climate change, water scarcity, and other risks that materially harm investors.

About Ceres 

Ceres is a nonprofit organization working with the most influential capital market leaders to solve the world’s greatest sustainability challenges. Through our powerful networks and global collaborations of investors, companies and nonprofits, we drive action and inspire equitable market-based and policy solutions throughout the economy to build a just and sustainable future. For more information, visit ceres.org and follow @CeresNews.

About Health Care Without Harm 

Health Care Without Harm seeks to transform health care worldwide so that it reduces its environmental footprint, becomes a community anchor for sustainability, and a leader in the global movement for environmental health and justice. For more information, visit noharm.org and follow @HCWithoutHarm.

Media Contact: Helen Booth-Tobin, booth-tobin@ceres.org, 617-247-0700 ext. 214

The McDonald’s System plays an integral role in California’s economy through its support of jobs and businesses across the state, driving economic opportunity for its independent owner/operators, McDonald’s crew members, and suppliers. The McDonald’s System strives to lift up the communities where it operates, by feeding and fostering communities and making delicious, feel-good moments easy for everyone.  

California is home to nearly 1,300 McDonald’s restaurants, more than 230 owner/operators, and more than 70,000 restaurant crew and managers. McDonald’s restaurants are open for business in 90% of California’s counties, with more than 300 restaurants in Los Angeles County.Across California, nearly 1 in 7 owner/operators began their careers as McDonald’s crew members.

View our California Impact Report

View original content here

CLEVELAND, June 6, 2023 /3BL Media/ – KeyBank Institutional Advisors and KeyBank Community Development Lending and Investment (CDLI) provided $30 million of financing to the Cleveland Foundation (TCF) for the construction of the 95,000-square-foot Midtown Collaboration Center (Center) located in Cleveland’s MidTown and historic Hough neighborhoods. The Center will be adjacent to TCF headquarters and aims to be both regionally significant and locally transformative.

KeyBank Institutional Advisors provided a $23.7 million loan to fund the new construction of the Center. Partners in this project include Case Western Reserve University (CWRU), University Hospitals (UH), the Cleveland Institute of Art (CIA), Hyland Software, and the Economic & Community Development Institute (ECDI), the country’s largest SBA micro lender.

KeyBank CDLI provided a $6.3 million equity investment in the New Market Tax Credits. The Center will house partners including CWRU’s new Center for Population Health Research, UH’s new Diabetes Research and Wellness Center, CIA’s new Interactive Media Lab, Hyland Software Training Center, JumpStart offices, ECDI – SBA Lending Center and Women’s Resource Center, and the Brewery/Taproom (BIPOC-owned) & community-led music venue.

The Center will bridge Cleveland’s downtown business center with its University Circle academic hub, bringing together multiple sectors and companies under one roof, to create a new model for a “both and” approach to economic activity that centers around community. The project builds upon the momentum of the adjacent Cleveland Foundation’s Headquarters project. Together, these two buildings represent the first of eight proposed structures in the planned 12-acre civic district.

“This project is part of the Cleveland Foundation’s overall mission of improving the quality of life in Cleveland neighborhoods and strengthening the fabric of our city as a whole,” said Cathy O’Malley Kearney, Head of Key Institutional Advisors. “We are proud to be a part of this important project which will provide a pathway to economic opportunity.”

“KeyBank is investing in this neighborhood with a commitment of capital for sustainable, inclusive, and equitable development,” said Ryan Olman, KeyBank CDLI. “We are pleased to partner with the Cleveland Foundation to transform and strengthen Cleveland’s neighborhoods and communities.”

“The MidTown Collaboration Center offers a new model for purpose-driven collaboration, equitable, community-centered development and partnership,” said Rosanne Potter, Cleveland Foundation Senior Vice President & Chief Financial Officer. “This project would not have been possible without KeyBank’s commitment to the Greater Cleveland community.”

About Key Institutional Advisors

For nearly 200 years, Key Institutional Advisors has provided advisory, investment management, growth advice, trust administration, customized credit, and banking services to non-profit, corporate, healthcare, pension, tribal, and government entities across the U.S. with a strategic focus on funding, sustainability, and governance. Key Institutional Advisors has nearly $14 billion in AUM and $62.3 billion in AUA, at March 31, 2023.

About KeyBank Community Development Lending and Investment

KeyBank Community Development Lending and Investment (CDLI) finances projects that stabilize and revitalize communities across all 50 states. As one of the top affordable housing capital providers in the country, KeyBank’s platform brings together construction, acquisition, bridge-to-re-syndication, and preservation loans, as well as lines of credit, Agency and HUD permanent mortgage executions, and equity investments for low-income housing projects, especially Low-Income Housing Tax Credit (LIHTC) financing. KeyBank has earned 10 consecutive “Outstanding” ratings on the Community Reinvestment Act exam, from the Office of the Comptroller of the Currency, making it the first U.S. national bank among the 25 largest to do so since the Act’s passage in 1977.

About KeyCorp

KeyCorp’s roots trace back nearly 200 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation’s largest bank-based financial services companies, with assets of approximately $198 billion at March 31, 2023. Key provides deposit, lending, cash management, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of approximately 1,000 branches and approximately 1,300 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit https://www.key.com/. KeyBank is Member FDIC.