Pepco and Exelon’s Racial Equity Capital Fund Invests Nearly $3 Million in Minority-Owned Small Businesses in the District and Maryland

​The $36 million fund provides affordable capital to businesses that have traditionally struggled to access and secure funding due to systemic barriers

Link to event VO/SOT: Pepco RECF 2023

Link to entire event: Pepco RECF live stream

WASHINGTON, DC / ACCESSWIRE / October 2, 2023 / Pepco, Exelon, and the Exelon Foundation-funded Racial Equity Capital Fund (RECF), announced $2.7 million in RECF investments to four local, minority-owned businesses working in the energy, IT, workforce development, and real estate fields:

• $1 million equity investment in Gemini Energy Solutions
• $600,000 debt investment in Public Sector Solutions Group (PS2G)
• $600,000 debt investment CJR Development Partners, LC
• $500,000 equity investment Escalate

In 2022, Exelon, Pepco's parent company, launched the RECF in partnership with RockCreek, one of the world's largest diverse-owned global investment firms, which has invested more than $8.4 billion in diverse firms over the last two decades. The RECF expands capital access to diverse businesses so they can create more jobs, grow their companies and reinvest in their neighborhoods and communities.

Gemini Energy Solutions is a Black-owned and led energy audit and cleantech company that strives to equitably scale energy efficiency to often overlooked small businesses and communities. Gemini uses 'clean energy hubs' that serve as revenue generating microgrids that includes rooftop and carport solar panels, electric vehicle chargers and HVAC and lighting solutions. The organization is currently working to connect businesses and churches in under-resourced communities with green energy solutions.

Public Sector Solutions Group (PS2G) is a technology driven Black-owned company providing IT consulting services and innovative solutions to state and local government partners. The PS2G team helps clients achieve their performance goals while ensuring audit compliance and reporting for federally funded agencies. PS2G is 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, LC is a minority, woman-owned small business firm dedicated to building strong communities and businesses. The CJR development team advises on public private partnerships and specializes in creating mixed use developments and affordable housing communities. They also help build strong businesses by providing solutions for clients' branding, contract management and human resources needs, as well as training services to build strong employee teams.