BINGHAMTON — The inaugural ChargeUp Battery Startup Accelerator at the Koffman Southern Tier Incubator in Binghamton has named four finalists that will be busy at work through October. Organizers, who announced the finalists on April 10, are planning a ceremony to conclude the accelerator during what’s called Battery Week, Binghamton University tells CNYBJ in an […]
BINGHAMTON — The inaugural ChargeUp Battery Startup Accelerator at the Koffman Southern Tier Incubator in Binghamton has named four finalists that will be busy at work through October. Organizers, who announced the finalists on April 10, are planning a ceremony to conclude the accelerator during what’s called Battery Week, Binghamton University tells CNYBJ in an email. Binghamton University, the Koffman Southern Tier Incubator, NextCorps, and New Energy New York (NENY) selected the finalists for the accelerator competition. The initiative is supported by a $4.5 million grant from the U.S. National Science Foundation (NSF) to “bolster early-stage, deep-tech enterprises and foster place-based economic development,” according to an April 10 Binghamton University announcement. The finalists are: Ateios Systems of Newberry, Indiana; Standard Potential of New York City; MITO Materials Solutions of Indianapolis, Indiana; and Fermi Energy of Blacksburg, Virginia. The 2024 ChargeUp program reviewed more than 90 applications from around the world, with four companies selected for the inaugural cohort. They were selected through a “rigorous, competitive” review and pitching process, evaluated by a panel of “top” technical and business experts, per the Binghamton University announcement. The finalist companies will each receive $25,000, mentorship from technical experts, investment opportunities, and access to facilities and resources. Following the pilot 2024 cohort, the program will scale to include between eight and 10 companies per year.
About ChargeUp
ChargeUp is described as “the nation’s first and only accelerator dedicated to supporting battery and energy storage startups.” It is the latest program launched under NENY to “propel domestic battery-industry innovation, while fostering economic growth in Upstate New York.” NENY, led by Binghamton University, is building a “comprehensive ecosystem” in upstate New York to promote U.S. national security, supply-chain resiliency, and global competitiveness within the battery industry, “with a strong focus on technology innovation.” To support its vision, NENY has secured an Economic Development Administration (EDA) Build Back Better Regional Challenge (BBBRC) award, an NSF (National Science Foundation) Regional Innovation Engines grant, and a federal tech-hub designation. “ChargeUp is a pivotal element of the NENY ecosystem, epitomizing our vision as a federal Battery Tech Hub and an NSF Engine. It exemplifies how targeted support and strategic collaboration under the NENY umbrella can catalyze profound advancements in battery and energy storage technologies,” NENY Engine CEO Per Stromhaug said in the announcement. “Its launch is another step towards making the Southern Tier the epicenter for battery innovation.” The program — hosted by the Koffman Southern Tier Incubator in Binghamton under the NENY initiative — will have participants involved in a hybrid curriculum focused on investor preparedness, manufacturing readiness, and industry integration, with regular on-location events, modules, and networking in Binghamton. By fostering connections with regional stakeholders, including research universities, economic-development organizations, manufacturers, and potential clients, ChargeUp seeks to support the client startups in bringing their groundbreaking technologies to the market and establishing strong connections to — and operations in — the Southern Tier. “I have worked across different innovation ecosystems globally and what sets this program apart is the intentional efforts that have been taken to get inputs from industry specific experts and the investment community in developing this program,” Bandhana Katoch, executive director of the Koffman Southern Tier Incubator, said. “We are excited to launch this program to further support our unique innovation ecosystem, promoting a domestic supply chain for battery and energy storage.”
NextCorps involvement
Binghamton University and its Koffman Southern Tier Incubator have joined forces with Rochester’s NextCorps to launch the six-month accelerator providing key investor and manufacturing-readiness training to leading startups from across the nation. Drawing on the proven success of NextCorps’ Luminate, renowned as the world’s largest accelerator for startups in optics, photonics, and imaging, ChargeUp is crafted “to emulate a model” in which more than 65 companies have already raised $650 million in funding. The “strategic alignment with Luminate’s celebrated framework positions ChargeUp for success in the critical battery and energy storage industry,” per the announcement. “We are continuously growing our NENY partner coalition for maximized regional and national impacts, and the collaboration with NextCorps, especially leveraging the expertise of the Luminate team, is a cornerstone of our strategy to nurture groundbreaking innovations in the battery sector,” Olga Petrova, director of Entrepreneurship and Innovation Partnerships, Binghamton University, said.
About the finalists
Here is a description of the finalists for the ChargeUp Accelerator: Ateios Systems Developing innovative electrode- manufacturing techniques to improve and accelerate production of new battery technologies across a range of various markets and applications.
Fermi Energy Developing new approaches for large-scale production of low-cost, sustainable cathodes for high-energy automobile batteries.
MITO Materials Solutions Developing and manufacturing innovative functionalized graphene across a wide array of applications.
Standard Potential Developing new cathode active materials for lithium- and sodium-ion batteries.