A number of big names, including acclaimed singer and rapper Drake, have joined together to invest in the clean energy startup, Palmetto.
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Along with the musician, fitness gurus LeBron James and Arnold Schwarzenegger have joined the investment group in addition to Billie Eilish, FINNEAS, Jimmy Iovine, and Bono.
According to Variety, Palmetto works to drive the adoption of renewable energy, including solar power, for residential consumers.
“Clean energy should be accessible for everyone, not just households with expendable income,” said James’ business partner, Maverick Carter. “Palmetto’s work to provide more affordable clean energy can have an immediate positive impact on the environment as well as families and communities across the country. Empowering people with access, information, and opportunities is something we’re passionate about and always excited to get behind.”
According to the outlet, residential solar use is a reported $100 billion market, though a mere 3% of 70 million homes in the U.S. currently take advantage of the technology.
“Our mission is to democratize clean energy and fundamentally alter the trajectory of climate change. The key to the clean energy revolution is to educate people and bring awareness to the issues and solutions,” added Chris Kemper, Palmetto chairman, founder, and CEO. “We’ve been at this for over a decade and honestly, I can’t think of better partners to help us share our company’s mission and message that clean energy is a choice for everyone.”
Kemper founded Palmetto after a career working with climate change experts.
Photo by Johnny Nunez/Getty Images for Remy Martin
