BINGHAMTON, N.Y. — A Rochester–based firm on Tuesday captured the $1 million grand prize in the 76West clean-energy competition during a ceremony held in Binghamton.
EkoStinger manufactures under-trailer aerodynamic devices for tractor trailers that “reduce emissions and save fuel,” NYSERDA said in a news release about the event. The firm will expand its operations to the Southern Tier.
The state describes 76West as “one of the largest competitions in the country that focuses on supporting and growing clean-energy businesses and fostering economic development.” NYSERDA is short for the New York State Energy Research and Development Authority, which administers the competition.
The state awarded a total of $2.5 million to six companies. Lt. Gov. Kathy Hochul announced the winners at an awards ceremony in downtown Binghamton. More than 100 elected officials, entrepreneurs and local business leaders attended the event. The event also named a $500,000 winner and four $250,000 winners.
As a condition of the award, companies must either move to the Southern Tier or establish a direct connection with the Southern Tier, such as supply chain, job development with Southern Tier companies, or other strategic relationships with Southern Tier entities that stimulate wealth creation and create jobs.
If the companies are already in the Southern Tier, they must commit to “substantially growing” their business and employment in the region.
The competition complements “Southern Tier Soaring,” the region’s economic-development blueprint.
Additional prize winners
Besides EkoStinger, Hub Controls of Dublin, Ireland won the $500,000 award. The company creates smart-energy products for the home that empower households to manage their utility bills.
Southern Tier Technologies of Endwell captured one of the four $250,000 prizes. The company creates energy-optimization products to help customers reduce carbon emissions and reduce utility bill costs.
The other $250,000 prize winners included Connexus Controls of Albany; PassiveLogic of Holladay, Utah; and Switched Source of Detroit, Michigan.
The third round of the 76West competition was launched in December 2017. More than 150 firms from 27 states and more than a dozen countries had applied to participate.
Of these, 20 finalists were chosen and participated in a two-day pitch session from July 31 to August 1 at Cornell University. Judges then recommended the top six winners.
Contact Reinhardt at ereinhardt@cnybj.com