What is ACRE?
ACRE is a critical AXIS for innovators to connect and develop new technologies essential to meet both city and state energy and environmental goals, as well as the demands of climate change adaptation and mitigation.
New York City has the largest commercial office market in the nation, consisting of 439.5M square feet (≈3.5 times larger than the next largest market) and among the highest electricity costs in the country. It also manages 12 million tons of trash per year and powers the most connected public transportation system in the country.
Responding to these challenges, New York City's utilities have made commitments to implement a plan for sustainable growth, evidenced by investments in new smart grid technology and initiatives such as PlaNYC 2030. These efforts create a strong market pull for Cleantech (technologies that drive renewable and energy efficiency upgrades) in NYC. When coupled with the fact that New York City is home to an enormous commercial office market and among the highest electricity costs in the country, the market for clean technologies that more efficiently manage energy usage should be larger in NYC than anywhere else in the United States.
ACRE and New York City
New York City stands to gain significantly by helping innovative startup technology companies that are able to address our most pressing energy and environmental needs. The New York City Accelerator for a Clean and Resilient Economy (NYC ACRE) helps clean technology and renewable energy companies in New York City grow, advancing the city as a role model for a low-carbon future while also creating jobs. NYC ACRE is dedicated to growing an ecosystem of entrepreneurs, international companies, and innovative local businesses that provide solutions to climate and energy issues in NYC.
The opportunity we have to impact critical infrastructure by making it 'smarter' is unprecedented; marketing, design, art, engineering, and data science will all be required in this effort. Using a global talent pool of university students and faculty in relevant disciplines, and connecting them to the existing tech community, NYC ACRE will help facilitate company creation, talent inclusion, and an increase in investment capital to power the next great phase of economic growth in New York.
– Michael Bloomberg, President of the Board of Directors, C40 Cities Climate Leadership