Former Tesla / SolarCity / White House tech leader will drive the development of the company’s next-generation sustainability services amid promising growth
August 4, 2022
LOS ANGELES — Aspiration, a global leader in Sustainability as a Service solutions for consumers and companies, today announced that technology and sustainability veteran Tim Newell has joined the company as its first Chief Innovation Officer. In this new role, Newell – who formerly led financial products teams at Tesla and SolarCity – will be focused on driving innovation for the next generation of Aspiration sustainable financial services and offerings, and providing leadership across the company as it continues to see groundbreaking growth.
“Aspiration stands on the shoulders of the important work that leaders like Tim have been doing at the intersection of finance, technology, and sustainability for years,” said Andrei Cherny, CEO and co-founder of Aspiration. “Climate change is more central in our lives than ever before and with Tim’s unique experience across these sectors, he is well poised to help us in delivering meaningful climate action solutions, from consumers to enterprises.”
Prior to leading financial products teams for Tesla and SolarCity, Newell was CEO/Co-founder of Common Assets, a fintech focused on clean energy investments that was acquired by SolarCity. Before founding Common Assets, Newell was a Senior Advisor and Managing Director of private equity firm US Renewables Group, as well a partner in DFJ Element, the environmental technology affiliate fund of venture capital firm Draper Fisher Jurvetson. Newell was a co-founder of New Resource Bank, one of the first U.S. commercial banks dedicated to financing sustainable businesses, and served on the founding management team for E*Offering, the online investment banking partner for *E*Trade.
Newell previously served in various technology-focused roles in the U.S. government, including Deputy Director for Policy in the White House Office of Science and Technology during the Clinton Administration.
“Over the past 40 years, the global climate conversation has evolved from nearly nonexistent to absolutely critical, making the development and deployment of powerful climate solutions more urgent than ever,” Newell said. “Aspiration is an exciting leader of a new generation of financial companies that are enabling the massive shift in capital flows necessary to build a more sustainable global economy.”
Aspiration is in the business of sustainability, where climate action meets financial services. For consumers, Aspiration is leading the development of new climate-friendly financial products. For enterprises, Aspiration’s sustainability services help leading brands and corporate partners achieve their net zero carbon goals through our investments in nature-based carbon offset projects throughout the world – including Aspiration’s proprietary reforestation program that delivers carbon removal at unprecedented scale. Seven million consumer members have joined the Aspiration movement so far, while noteworthy partnerships with organizations including the LA Clippers, Boston Red Sox, Deloitte, and Lime, among others, reflect an eagerness to adopt effective climate solutions.
Newell is currently on the Board of Directors of the Common Mission Project, a non-profit organization supporting mission-driven entrepreneurship and innovation education at more than 60 universities in the U.S., the UK, and Australia. His previous board roles have included the California Clean Energy Fund, Fulcrum BioEnergy, and FFP New Hydro. He holds a BA in Economics from Brown University.
Aspiration has entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly-traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company as a Public Benefit Corporation, building on Aspiration’s existing commitments to generate social and public good and operate in a responsible and sustainable manner.
About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 7 million members by helping them spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business.
About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including: former BankOneChairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.
Aspiration Investor Relations
InterPrivate III Financial Partners Inc. Investor Relations