VESTAL — Six companies won prize money in the 76West Clean Energy business competition in the Southern Tier. The office of Gov. Andrew Cuomo described it as “one of the largest competitions in the country that focuses on supporting and growing clean-energy businesses” in a news release issued Nov. 30. Lt. Gov. Kathy Hochul announced […]
VESTAL — Six companies won prize money in the 76West Clean Energy business competition in the Southern Tier.
The office of Gov. Andrew Cuomo described it as “one of the largest competitions in the country that focuses on supporting and growing clean-energy businesses” in a news release issued Nov. 30.
Lt. Gov. Kathy Hochul announced the winners that day at an awards ceremony at Binghamton University. The event also kicked off the second round of the 76West competition.
Micatu, an optical-sensor company from Horseheads in Chemung County, won the $1 million grand prize.
The competition also awarded one $500,000 prize and four $250,000 prizes to businesses for their use of “innovative” technologies that have the potential to reduce greenhouse-gas emissions, and make clean energy “more affordable.”
The competition is part of the state’s effort to generate 50 percent of its electricity from renewable-energy sources by 2030 under Cuomo’s clean-energy standard.
The judges chose the six winners after a contest included multiple pitch sessions to judges and mentoring by local experts.
Finalists vied for a $1 million grand prize, a $500,000 award and four $250,000 awards. In total, the state awarded $2.5 million.
Prize winners
Micatu of Horseheads captured the $1 million grand prize. The firm makes an optical sensor that gives “highly accurate” voltage readings so utilities can reduce energy use, thereby reducing greenhouse-gas emissions.
Charge CCCV (C4V) of Binghamton earned the $500,000 cash award. The company produces energy-storage batteries that can be used for telecommunications systems and other industries that need storage with longer lifetimes so they reduce overall costs.
ChromaNanoTech, another firm from Binghamton, won a $250,000 prize. The company produces a dye that keeps windows transparent but blocks ultraviolet radiation, so buildings stay cooler and air- conditioning loads are reduced.
The remaining $250,000 winners include DatArcs of New York City, which provides server software that reduces the energy consumption of data centers while maintaining system performance.
Global Thermostat, also of New York City, captures carbon dioxide out of the air, thereby reducing greenhouse gases, then purifies it, and sells it to industrial companies that need it for their manufacturing purposes.
In addition, Besstech of Troy captured a $250,000 prize. It manufactures silicon components that make energy storage batteries less expensive, fast charging, and more environmentally friendly, per the state.
Applications
New York State started accepting applications for the second round of the 76West competition Dec. 1 and the deadline for submission is March 13, 2017.
The response to the most recent 76West competition demonstrated New York’s “growing presence as a clean-tech leader on the national and international stage,” the state contended in the release.
The competition attracted 175 applications in the first round from across the state, the U.S., and around the world.
A total of 71 applications, or 40 percent, were from businesses located in the Southern Tier; 70 from other regions of New York; 23 from other states including California, Massachusetts, Texas and Nevada; and 11 from international applicants from nations such as Turkey, Spain, and Israel.
Of the 175 applicants, 24 were chosen as semifinalists who underwent a week of mentoring in May.
At the end of that week, semifinalists pitched their proposals to judges, who chose the six finalists based on criteria including technical merit, likelihood of business growth, job potential, and benefit to the Southern Tier.
Over the summer, the six finalists once again pitched their proposals to judges who then recommended the final award winners.
Harvey Stenger, president of Binghamton University, and Tom Tranter, president of Corning Enterprises, serve as co-chairs of the Southern Tier regional economic-development council and commented in the Cuomo news release.
“The Southern Tier’s focus on supporting clean-tech industries and fostering innovative business models has set the stage for a cleaner, greener, thriving economy for future generations … Through 76West, we look forward to showing the winners all that our region has to offer as we continue to spur job creation and economic growth through the Governor’s clean energy initiatives.”
Contact Reinhardt at ereinhardt@cnybj.com