Stanley Black & Decker Joins Greentown Labs as Newest Terawatt Partner

World leader in tools, equipment, and electronic solutions will engage directly with startup community to accelerate climatetech innovations

News provided by

Greentown Labs

Feb 10, 2021, 09:00 ET

SOMERVILLE, Mass., Feb. 10, 2021 /PRNewswire/ -- Greentown Labs, the largest climatetech startup incubator in North America, today announced Stanley Black & Decker (NYSE: SWK) as its newest Terawatt Partner—the highest level of engagement with the incubator. Stanley Black & Decker is a diversified global provider of hand tools, power tools and related accessories, electronic security solutions, healthcare solutions, engineered fastening systems, and more.

Recognized as an industrial leader, Stanley Black & Decker's suite of iconic brands play a critical role in people's lives—from tools for homes and everyday projects to major infrastructure equipment and solutions. Stanley Black & Decker's partnership with Greentown directly aligns with its organizational purpose—For Those Who Make The World™—and the pillars of its corporate social responsibility strategy: to empower makers, innovate with purpose, and create a more sustainable world. Stanley Black & Decker has a firm belief that corporations have a broader role to play in society including helping solve the world's biggest challenges, such as climate change, income inequality and workforce development. In short, they are working to be a force for good.

"Our vision is to inspire makers and innovators to create a more sustainable world," said Stanley Black & Decker Corporate Responsibility Officer, Deb Geyer. "That vision becomes infinitely more attainable with the right partnerships. By collaborating with Greentown Labs, we're confident that we'll have the right players together to make tangible impacts toward climate change."

Through its partnership with Greentown Labs, Stanley Black & Decker will deepen its ties with the incubator's community of climatetech startups, gain access to curated startup pitch days with innovations from emerging technology sectors, and obtain a seat on Greentown's Advisory Board which provides strategic guidance and input to the incubator throughout the year. Dina Routhier, President of Stanley Ventures, will serve on the Advisory Board for 2021.

A unique element of their partnership—and an impressive addition to the Greentown community—is the Stanley Black & Decker Tool Shop that Stanley Black & Decker will establish onsite at Greentown's headquarters in Somerville, Mass. The Stanley Black & Decker Tool Shop will feature $25,000 worth of donated tools and equipment that will be made available to Greentown's community of more than 100 climatetech startups at its Boston location. As part of its commitment to safety and outstanding performance, Stanley Black & Decker will provide training sessions to Greentown's entrepreneurs to ensure a seamless usage experience.

"Greentown Labs believes corporations will—and must—play an essential role in solving the climate crisis and we're proud to partner with Stanley Black & Decker because we share this vision," said Dr. Emily Reichert, CEO of Greentown Labs. "Stanley Black & Decker is not only working to improve the life cycle impact of its own products and sourcing, and to reduce supply chain greenhouse gas emissions, but to also positively impact the environment through its operations. I believe they're setting an example for other corporations to follow."

Stanley Black & Decker and Greentown first collaborated in 2019 on The Greentown Labs Circularity Challenge—a six-month accelerator program for startups developed in partnership with BASF, one of the world's leading chemical companies. The Challenge sought out battery, plastic, and digital solutions to enable the circular economy and improve sustainability across value chains. The Challenge successfully concluded in March 2020; learn more about it by watching this video.

About Greentown Labs:
Greentown Labs is a community of climatetech and cleantech pioneers working to design a more sustainable world. As the largest climatetech startup incubator in North America, Greentown brings together startups, corporates, investors, policymakers, and many others with a focus on scaling climate solutions. Driven by the mission of providing groundbreaking startups the resources, knowledge, connections, and equipment they need to thrive, Greentown offers lab and office space, software and business resources, and a large network of corporate partners, investors, industry experts, and fellow entrepreneurs. Greentown is headquartered in Somerville, MA and has supported more than 300 startups since its founding in 2011. These startups have collectively created more than 6,500 direct jobs and have raised more than $1 billion in funding. Greentown's second-ever location will open in Houston, TX, in spring 2021. For more information, please visit www.greentownlabs.com, Twitter or LinkedIn.

About Stanley Black & Decker:
Stanley Black & Decker is a purpose-driven, $14.5 billion revenue industrial organization. Stanley Black & Decker has 53,000 employees in more than 60 countries and operates the world's largest tools and storage business, the world's second-largest commercial electronic security services company, a leading engineered fastening business as well as Oil & Gas and Infrastructure businesses. The company's iconic brands include BLACK+DECKER, Bostitch, CRAFTSMAN, DEWALT, FACOM, IRWIN, LENOX, Porter Cable and STANLEY. Stanley Black & Decker is a company for the makers and innovators, the craftsmen and the caregivers, and those doing the hard work to make the world a better place. Learn more at www.stanleyblackanddecker.com.

Greentown Labs Media Contact:
Julia Travaglini
[email protected]
603-867-3657

Stanley Black & Decker Media Contact:
Abigail Dreher
[email protected]
860-922-4598

SOURCE Greentown Labs