LeBron James, Drake Bet On The Nearly $10B Residential Solar Market By Investing In A Clean Energy Startup
Photo Credit: George Pimentel
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LeBron James, Drake Bet On The Nearly $10B Residential Solar Market By Investing In A Clean Energy Startup

LeBron James and Drake were among the group of celebrities who have recently invested in the reported $9.1 billion (as of 2020) residential solar market to help increase access to clean energy.

Along with the two investors and friends, Variety reports that fellow participants that have joined venture capital firm Main Street Advisors to invest in startup Palmetto include Maverick Carter, Gov. Arnold Schwarzenegger, Jimmy Iovine, Billie Eilish, Finneas O’Connell, and Bono.

The new undisclosed investment to support homeowners’ transition into solar comes after the company’s $375 million Series C funding round last year.

“Clean energy should be accessible for everyone, not just households with expendable income,” Carter said, according to Variety. “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.”

Palmetto chairman, founder, and CEO Chris Kemper speaks on new investment:

“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. 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.”

The Previous Lebron James And Drake Linkup

In March, James and Drake partnered together to pay it forward to a Toronto student-athlete.

The two surprised Royal Crown Academic School player Michael and his mother with $100,000, as previously reported by AfroTech.

“I respect your hard work a lot but I respect work your hard work more. On behalf of me and my brother at Stake, we wanted to give you this. It’s $100,000 and hopefully, it just makes this journey just a little easier,” Drake said.

The giving rapper also went on to donate $1 million to James’ I Promise School.