The 20 finalists in this year’s 76West cclean-energy competition have made their pitches and are waiting for decisions on funding awards. The New York State Energy Research and Development Authority (NYSERDA) describes 76West as “one of the largest competitions in the country that focuses on supporting and growing” clean-energy businesses and economic development. NYSERDA on […]
The 20 finalists in this year’s 76West cclean-energy competition have made their pitches and are waiting for decisions on funding awards.
The New York State Energy Research and Development Authority (NYSERDA) describes 76West as “one of the largest competitions in the country that focuses on supporting and growing” clean-energy businesses and economic development.
NYSERDA on June 29 announced the 20 finalists for the 76West clean-energy competition.
Organizers chose the 20 finalists from a pool of 152 applicants based in more than a dozen countries and 27 states. The companies represent clean-energy technologies such as energy storage, wastewater treatment, energy efficiency, and solar.
The finalists were paired with mentors before pitching their companies to a panel of judges at Cornell University between July 31 and Aug. 1. The judges will recommend the six final award winners who will receive a total of $2.5 million in prizes.
NYSERDA said it will reveal the winners in the fall.
The applicants are competing for a $1 million grand prize, a $500,000 award, and four $250,000 awards. Throughout the duration of the program, 76West is providing $10 million in awards and $10 million for business support, marketing and administration through the regional greenhouse-gas initiative and the clean-energy fund.
As a condition of the award, companies must either move to the Southern Tier or establish a direct connection with the Southern Tier, like a supply chain, job development with Southern Tier companies, or other “strategic” relationships with Southern Tier entities that increase wealth creation and create jobs, according to NYSERDA.
If the companies are already in the Southern Tier, they must commit to “substantially” growing their business and employment in the region. Previous winners have already integrated themselves into the Southern Tier, raised $20 million in private capital for future growth, and created new jobs, NYSERDA said.
This is the third year of 76West, a $20 million competition and support program that NYSERDA administers which started in 2016 and will continue through 2019.
The competition complements “Southern Tier Soaring,” the region’s economic-development blueprint.
Finalists
The finalists include companies from New York’s Southern Tier, including Capro-X, Ecolectro, and Empower Equity, all of Ithaca, along with Southern Tier Technologies of Endwell.
The group also includes firms from the Finger Lakes region, such as Crystal Creek Organics, EkoStinger, Molecular Glasses, Tyll Solar, and WexEnergy, all of Rochester.
Other New York companies listed as finalists are Connexus Controls of Albany and Allied Microbiota of New York City.
Finalists from outside New York include Active Energy Systems and Peroxygen Systems, both of Knoxville, Tennessee; Inovues of Houston, Texas; mIQroTech of State College, Pennsylvania; PassiveLogic of Holladay, Utah; SteamIQ of Hingham, Massachusetts; and Switched Source of Detroit, Michigan.
The international finalists in the 76West competition are Hub Controls of Dublin, Ireland and Materium of Quebec, Canada.