Ten promising cleantech companies from throughout the United States participated in MegaWatt Ventures—an annual clean technology business plan competition sponsored by the U.S. Department of Energy (DOE) Cleantech University Prize (Cleantech UP). Sensatek Propulsion Technologies was awarded the grand prize of $50,000 and the opportunity to travel to Denver, CO from June 21-23 to compete in the Cleantech UP national finals against teams from other collegiate competitions. Two runners-up, Capacitech Energy and Grow BioPlastics, were also selected to compete in the Cleantech UP finals.
Each team had the opportunity to give a 10 minute pitch followed by judges questions. Judges consisted of seasoned investors, industry veterans, and technical experts representing an array of clean technology backgrounds and experience. The competition supports companies working on intellectual property-protected products, processes or technologies represented from the ten program offices of the DOE’s Office of Energy Efficiency and Renewable Energy (EERE).
Many of the winning teams are spin-outs from university research labs and every competing team must be composed primarily of current university students. The student-led ventures are located in five states around the country with a wide range of technologies.
More information on the three top teams can be found below:
Grand Prize Winner
Sensatek Propulsion (www.sensatek.us) – This Tallahassee, Florida based team is developing wireless sensor systems for use in harsh environments.
Capacitech Energy (www.capacitechenergy.com) – This Orlando, Florida based team is developing supercapacitor cables.
Grow Bioplastics (www.growbioplastics.co) – This Knoxville, Tennessee based team is developing low-cost, bio based plastic.