(MTI Press Release June 26, 2013) BRUNSWICK –
Three Maine companies have advanced to the semi-finals of the New England Cleantech Open Accelerator business competition. Two companies, RTI Ocean Wave Energy of York and VFG Energy Systems of Kittery, are competing in the highly competitive Energy Generation category, while SeaChange LLC of Brunswick is competing in the Chemical and Advanced Materials category. In being selected for the semi-final round all three companies have delivered compelling presentations of their vision for their technologies, and are advancing to the next round of the Cleantech national competition.
RTI Ocean Wave Energy is commercializing light-weight, low‐cost wave energy absorbing vessels that are elongated and oriented parallel to oncoming wave fronts, allowing them to capture several times more energy per unit volume and cost. According to RTI team leader John Rohrer “the [device] has been successfully tested in university wave tanks to facilitate design, fabrication, and ocean deployment. . . .” Funding for prototypes has been provided by the Department of Energy and the Maine Technology Institute.
VFG Energy Systems’ Variable Flux Generator (VFG) is a disruptive technology that addresses the shortcomings of conventional wind turbines by utilizing a variable magnetic engagement mechanism, unique coil design, and mechanical pitch control, which enables the machine to create power in low speed winds unlike any other machine in its class. According to Scott Moffat, Chief Executive Officer, “a major advantage of our technology allows for the generation of electricity at winds speeds that are not captured by conventional machines.”
SeaChange LLC is working to develop an economical competitive clean diesel replacement fuel that may be used in any diesel engine, whether by users in the company’s initial target market of the Maritime industry or by rail, heavy equipment, stationary power or other diesel fuel users. Chairman Geoff Lamdin said “SeaChange is working with academic and research partners at Maine Maritime Academy and the University of Maine, and with the Maine Technology Institute to help bring products to market.”
The Maine Technology Institute (MTI) has partnered with Cleantech Open Northeast in an effort to connect Maine companies with networks and resources outside the state. MTI is serving as the Metro director for Cleantech Open along with partner organizations E2Tech, the Maine Center for Entrepreneurial Development (MCED) and the University of Maine. Their joint mission is to help companies avail themselves of the opportunity and to connect with Cleantech resources in the region. MTI is also providing financial support to the companies who spent considerable time preparing their applications and presentations for the Cleantech Open Accelerator competition. According to Martha Bentley, MTI’s lead for the Cleantech initiative, “MTI encouraged and supported all three companies to highlight the value of their innovations and the commercial potential of their technologies. The results speak clearly about the quality of the companies, their technologies and their presentations.” Robert Martin, President of the Maine Technology Institute stated “These companies are excellent examples of the strong innovation mindset of Maine entrepreneurs.”
The Northeast Region of Cleantech Open, the world’s largest competitive Cleantech Accelerator, announced thirty-nine semifinalist companies. The thirty-nine semifinalists will now participate in the regional accelerator portion of the nation-wide Cleantech business competition, which connects participants with mentors and prospective financiers, offers a series of clinics and workshops, and generates networking opportunities with the Cleantech business community. The 2013 semifinalists will be showcased at a public reception June 26 before participating in the next phase of Cleantech Open June 27-28. The Northeast Regional Finals and Awards Ceremony will be held in Boston in October, with National Finals taking place November 20-21 in San Jose, California.
The Cleantech Open is a not-for-profit organization that runs the world’s largest accelerator for Cleantech startups. The Cleantech Open provides entrepreneurs and technologists the resources needed to launch and create successful and sustainable clean technology companies. Since its inception in 2006, the Cleantech Open has awarded over $6 million to support Cleantech companies.
Contact: For Cleantech Open:
Alexandra Adler
617-340-9521
For MTI:
Martha Bentley
207-582-4790
For more information visit www.cleantechopen.org.
The Maine Technology Institute is a non-profit organization founded by the State of Maine to fund Maine entrepreneurs and companies who engage technology to develop innovative products and to connect them to resources to help them grow profitable enterprises. For more information visit www.mainetechnology.org.