Southern Tier Businesses Make Finals in $2.5M Clean Energy Competition
By Natasha Vaughn | Binghamton Press & Sun-Bulletin
The New York State Energy Research and Development Authority announced three Ithaca businesses and an Endwell company are among 20 finalists in its $2.5 million clean energy competition.
The 76West Clean Energy Competition awards money to clean energy businesses in the Southern Tier, or businesses that establish a direct connection or create jobs in the area.
“I’m thrilled to see such a diverse group of companies participating in the 76West Competition, said Alicia Barton, president and CEO of NYSERDA in a statement. “Innovative entrepreneurs such as those leading the finalist companies will bring new solutions to help us tackle climate change and reduce greenhouse gas emissions.”
The 20 finalists were selected out of the 152 applicants that came from 12 different countries and 27 states.
The four Southern Tier finalists in the competition are, Capro-X, Ecolectro, and Empower Equity of Ithaca and Southern Tier Technologies of Endwell.
Capro-X converts dairy industry waste into bio-oil. Ecolectro develops and manufactures specialty polymers for clean energy, chemical and water applications. Empower Equity helps commercial and industrial customers to financially make energy efficient upgrades. Southern Tier Technologies creates products that help to ensure electrical equipment is running more cleanly and efficiently.
Finalists will work with mentors then pitch their companies to a panel of judges at Cornell University July 31 and Aug. 1. Judges choose six winners from the finalists.
According to NYSERDA, the judges base their decisions on six criteria: the clean energy impact a business will be able to have; the customer value; the viability of the business model ; how able and ready the technology or innovation is; the ability for the business to create jobs in the Southern Tier; and the quality, completeness and readiness of the team.
The finalists compete for a $1 million grand prize, a $500,000 award and four $250,000 awards.
This is the third year the 76West competition has been held. According to NYSERDA, it is one of the largest competitions in the country that works to grow and support clean energy businesses.
The prize winners will be announced at an awards ceremony in September.
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76West Clean Energy Competition
New York State
- Connexus Controls, Albany
- Crystal Creek Organics, Rochester
- EkoStinger, Rochester
- Molecular Glasses, Rochester (NEXUS-NY 2015)
- Tyll Solar, Rochester
- WexEnergy, Rochester
New York City
- Allied Microbiota, New York City
- Capro-X, Ithaca (NEXUS-NY 2018)
- Ecolectro, Ithaca (NEXUS-NY 2015)
- Empower Equity, Ithaca
- Southern Tier Technologies, Endwell
- Active Energy Systems, Knoxville, Tennessee
- Inovues, Houston, Texas
- mIQroTech, State College, Pennsylvania
- PassiveLogic, Holladay, Utah
- Peroxygen Systems, Knoxville, Tennessee
- SteamIQ, Hingham, Massachusetts
- Switched Source, Detroit, Michigan
- Hub Controls, Dublin, Ireland
- Materium, Quebec, Canada