10 Emerging clean energy entrepreneurs compete live for $250,000 in cash and prizes
Boston, MA (April 26, 2007) - Emerging from an impressive starting field of 61 innovative clean energy start-ups, the 10 best will compete live in the 3rd annual Ignite Clean Energy (ICE) Competition hosted by the MIT Enterprise Forum on Tuesday, May 1 for a total of $250,000 in cash and prizes to be awarded that evening.
The competition is an annual three month long contest for startup companies dedicated to economic growth in the clean energy sector and thereby reducing the consumption of fossil fuels through innovative technologies. The event will be held from 2 to 7 p.m. at the Hyatt Regency Boston.
William Swope, VP and Director, Corporate Affairs Group for the Intel Corporation , will be giving the keynote address to emphasize the importance of clean energy products and services to the high tech industry. Additionally, State Senator Robert O'Leary of Cape Cod and the Islands will provide insight as to how these emerging technologies can apply to future environmental legislation.
The 10 finalists include teams with state-of-the-art technologies for cost-effective solar cells, a new type of biofuel, a new source of cooking fuels for the developing world, novel lighting technologies, a Carbon Free Credit Card and more. More details on each team can be found at http://www.ignitecleanenergy.com/#finalists.
The grand prize winners will receive cash, legal services from Mintz Levin, office space from their choice of Cummings Properties commercial space or incubator space at UMass Dartmouth's Applied Technology and Manufacturing Center, and public relations services from Bell Pottinger USA. Other competition sponsors include Corning Incorporated, the Massachusetts Technology Transfer Center, the Massachusetts Technology Collaborative, NSTAR, BASF, SVB Bank, Constellation Energy, Maniv Energy, Massachusetts Technology Development Corp., GE, Nixon Peabody, NCIIA, and Goodwin Proctor.
Each team was paired with industry mentors, enabling them to gain the knowledge and skills needed to attract investors and to build a sustainable company that will bring jobs and clean energy to the region.
"We couldn't be more thrilled with the high caliber and diversity of innovation, foresight, and savvy these teams have displayed," says ICE Chair Dr. Linda Plano. "They represent the future of this rapidly growing industry, and we hope their success will inspire others to start their own clean energy companies - and enter the ICE Competition next year!"
Past ICE winners include: Stellaris - (www.stellaris-corp.com), whose technology utilizes novel, low-cost plastic concentrator to enable windows & skylights to generate electricity from solar cells unobtrusively; Powerhouse Enterprises - (www.powerhouse-enterprises.com) whose technology leverages the economics of modular building technology to construct highly energy-efficient, beautiful homes at about cost parity; Solasta Corporation - (www.solastacorp.com), which is developing a nanostructured material to enhance solar cell efficiencies by a factor of 3 to 5; Natel Energy - (www.natelenergy.com) whose novel turbine design enables environmentally sound hydropower; Synergetic Power Systems - (now Promethean Power), whose solar turbine technology is being beta tested in Lesotho, South Africa; Feed Resource Recovery, a Babson Student team, uses existing technology to convert food waste into biogas, compost and fertilizer for supermarkets and restaurant chains.
For more information about the event, please visit www.ignitecleanenergy.com.
About Ignite Clean Energy
Sponsored by the MIT Enterprise Forum Energy Special Interest Group, the Ignite Clean Energy (ICE) Competition began in 2004 to stimulate the growing clean energy industry in New England. It provides start-up clean energy companies and entrepreneurs with the opportunities and resources to develop business skills, network with industry professionals and the chance to attract potential investors. The winners will be awarded a total of $150,000 in cash and services.
For More Information, Please Contact:
Ignite Clean Energy
Bell Pottinger USA