Published on November 28th, 2013 | by Jo Borrás0
US Navy Announces Energy Excelerator Winners
November 28th, 2013 by Jo Borrás
Earlier this month, the US Navy-funded Energy Excelerator program announced the 15 clean energy startups that would make up its 2014 cohort. Six of the “winning” startups will receive $1 million each to demonstrate their technology in Hawaii as part of the Energy Excelerator’s growth stage program. In addition to funding 6 new growth-stage startups, the group also selected 9 promising startups from its field of applicants for its “seed stage” program — a selection that included our friends at Pono Home!
This is, of course, the follow-through stage of the US Navy’s initial $30 million investment in the Energy Excelerator, a small business incubator that exists to help energy startups “navigate” the perilous business waters of Hawaii and the Asia Pacific regions while encouraging the sharing of know-how, technology, and strategies between the companies. That $30 million investment, by the way, tripled the Excelerator’s operating funds over the past three years, and (as Tina Casey puts it) “gives the ol’ Bronx cheer” to certain legislators in Congress who have tried to cut funding for the Navy’s ambitious alternative fuel initiatives.
Even at its relatively modest (by military standards) funding level, the Energy Excelerator program has already raised follow-on investments from the private sector totaling more than $38 million — all of which will help the 2014 cohort immensely.
Source | Photo: Energy Excelerator.
More on Pono Home
Disclaimers: Pono Home is in the Energy Efficiency category, and is run by Important Media’s own Scott Cooney, so congratulations to Scott and his team over there are definitely in order! You can check out a few ads I mocked up for Pono Home earlier this summer, below …
… and find out more about Pono Home by visiting the company’s website and clicking around at some of the menu selections. There’s lots to learn, and plenty of ways to save on your water and energy bills! Enjoy!
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