10 Emerging Clean Energy Entrepreneur Teams Compete for $200,000 in Cash and Prizes

BOSTON - (May 6, 2008) - Emerging from the largest applicant pool in competition history, 10 innovative clean energy start-ups will compete in the 4th annual Ignite Clean Energy (ICE) business presentation competition hosted by the MIT Enterprise Forum on Monday, May, 12 for a total of $200,000 in cash and prizes to be awarded that evening.

The ICE 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 1:30 to 6 p.m. at the Royal Sonesta Hotel in Cambridge.

Chelsea Sexton, an alternative fuels activist who is the Executive Director of Plug In America and was one of the key individuals interviewed in the 2006 documentary "Who Killed the Electric Car?" will be the keynote speaker at the ICE finals event.

"The diversity and commercial potential of these ideas should prove to anyone that it is possible to make green products that also make economic sense," said Clark Waterfall, 2008 Competition Chair. "I am proud of the intensive coaching and mentoring our volunteers have given to our contestants this year in preparation for the semifinals and the finals. Each team has gained valuable entrepreneurial and presentation skills. The transformation from promising technology to well-considered business concept has been remarkable in many cases. I believe we will see many ICE contestants develop into successful businesses in the coming years. This being our fourth year running the ICE contest, many past finalists continue to receive new venture, angel or grant funding."

The 10 finalists represent several clean energy categories; alternative fuels, enabling technologies, energy efficiency, energy storage, green buildings and systems, renewable energy and transportation. For more information on the finalists, visit http://www.ignitecleanenergy.com/node/700.

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.

The general public is welcome to attend the finals. Admission is $15 if registration occurs online and $20 at the door. The fee will be waived for credentialed members of the press. To register to attend the ICE finals, visit https://alum.mit.edu/smarTrans/public/Register.dyn?groupID=298&eventID=22281

About Ignite Clean Energy

Sponsored by the MIT Enterprise Forum Energy Special Interest Group, the Ignite Clean Energy (ICE) business presentation 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 $200,000 in cash and services. The leading sponsor for the 2008 ICE competition is the Massachusetts Technology Collaborative. For more information, please visit www.ignitecleanenergy.com