July 3, 2006—The 2006 Ignite Clean Energy Competition has resulted in prizes of $125,000 to five start-up clean-energy technology companies that made a compelling case to energy venture capitalists, CEOs, and industry experts that they have “the right stuff” to compete against conventional energy companies.
The winners are:
- 1st: Stellaris Corporation for a device that uses passive optics to make solar cells more efficient and less costly;
- 2nd (professional): Solasta (The Eagle Axis), a Boston College faculty team developing ultra-high-efficiency solar cells using nanotechnology;
- 2nd (student): Feed Resource Recovery, a Babson College student team that uses food and other organic wastes and an anaerobic digester to produce methane fuel and a highly effective organic fertilizer;
- 3rd (professional): NatEl for its hydropower technology to convert underutilized low-head dams into cost-effective power sources; and
- 3rd (student): Synergetic Power Systems, an MIT-student team, for its rooftop-mounted parabolic concentrating solar collector systems business
The MIT Enterprise Forum of Cambridge sponsored the competition, which is designed to: help new business leaders create a compelling story for raising funds from government and venture capital investors; teach entrepreneurs superior business plan presentation skills; and encourage networking among entrepreneurial participants, investors, and industry leaders.
For more information on the winners or the competition, visit the Ignite Clean Energy site.
