14 Teams Advance in Clean Energy Prize Competition
connections to the
of judging in the Clean Energy Prize competition.
The competition was founded this year to help move clean energy
technologies from the laboratory to commercial production. DTE Energy, through
its DTE Energy Ventures subsidiary, and U-M, are challenging teams from
bringing new clean energy technologies to market. The teams with winning ideas
will share
The competition is a rigorous, multi-round process geared to reward top
clean energy business ideas and provide students with experience and expert
feedback on what it takes to create a successful clean energy startup
business.
More than 20 teams provided summaries for their prospective businesses and
the 14 teams still in competition now will submit seven-page market and
financial overviews for judging
narrowed to eight teams. The semi-final round will be
on
Following is the list of advancing teams and a summary of their business
proposals:
— Aeolian is involved in the design and manufacture of air-powered
automotive engines.
— Algal Scientific is involved in early-stage biotech and process
engineering focused on producing algae biofuels.
— Building Energy Science would offer residential energy-efficiency
retrofits.
— C6 Partners would operate landfill gas projects.
— Collective Energies would provide residential energy usage tracking.
— CTW International would develop land-based projects that have climate,
biodiversity and community benefits.
— Energy Technology Components would make modular, portable auxiliary
power units.
— Husk would convert agricultural waste into high-grade insulation.
— Potential Energy would create clean, sustainable storage for wind
energy.
— SITumbra would develop a solar shading window system.
— Urban Wind Solutions would offer vertical axis wind turbines to
high-rise buildings for energy and advertising space.
— Vital Group would sell wind turbines.
— Vortex Hydro Energy is involved in harvesting energy from moving water.
— We Gen would work with communities to develop renewable energy
projects.
The U-M Ross School of Business’ Zell Lurie Institute for Entrepreneurial
Studies, College of Engineering’s Center for Entrepreneurship, and the
Michigan Memorial Phoenix Energy Institute along with student organizations
MPowered Entrepreneurship and the Ross Energy Club have organized the
competition. The competition is open to students and faculty from all
Business Challenge.
The competition requires teams to focus on business ideas that support
renewable energy, energy efficiency, smart grid technologies, environmental
control technologies, plug-in electric vehicles or energy storage.
The business plan entries are judged by independent panels that include
leaders from the venture capital, business, industry and academic communities.
First round judges came from Google, Innoventures, the Michigan Public Service
Commission and Next Energy.
The prize money will help the winning teams start new businesses that can
contribute to
this initial competition is successful, it is envisioned that the competition
will be held in subsequent years with an annual prize pool of
Details of the competition are available on the Clean Energy Prize Web
site: www.dtecleanenergyprize.com .
DTE Energy Ventures is a DTE Energy company that invests in emerging
energy technologies and to date has invested more than
energy-related companies and funds, making it one of the larger
venture capital operations. Information about DTE Energy Ventures is available
at www.dteenergyventures.com .
DTE Energy (NYSE: DTE) is a
involved in the development and management of energy-related businesses and
services nationwide. Its operating units include Detroit Edison, an electric
utility serving 2.2 million customers in
natural gas utility serving 1.3 million customers in
non-utility, energy businesses focused on power and industrial projects, coal
and gas midstream, unconventional gas production and energy trading.
Information about DTE Energy is available at www.dteenergy.com .
The globally recognized
Entrepreneurial Studies provides the curriculum, program initiatives,
community involvement, and alumni outreach activities that deliver exclusive
resources for future entrepreneurs of the Ross School of Business at the
The Michigan Memorial Phoenix Energy Institute develops, coordinates and
promotes multidisciplinary energy research and education at the U-M. Some 75
faculty in disciplines ranging from engineering to policy to environmental
science to urban planning are a part of the institute.
This competition coincides with a number of other energy and
sustainability related initiatives at the
the College of Literature, Science and the Arts’ theme semester Energy
Futures: Society, Innovation and Technology, which will examine the human and
social behaviors associated with energy demand.
SOURCE DTE Energy