Smart Grid Project Draws Innovators, Investors to Austin

Share Article

CEVS will highlight early stage companies with technologies that can feed in to a program called the Pecan Street Project (PSP), which has resulted from a partnership between the City of Austin, Austin Energy, the University of Texas, and companies including: IBM, Cisco, Oracle, Applied Materials, and others. The Pecan Street Project partners hope to receive $10.4 million in Federal smart grid and other clean energy funding.

CEVS will highlight early stage companies with technologies that can feed in to a program called the Pecan Street Project (PSP), which has resulted from a partnership between the City of Austin, Austin Energy, the University of Texas, and companies including: IBM, Cisco, Oracle, Applied Materials, and others. The Pecan Street Project partners hope to receive $10.4 million in Federal smart grid and other clean energy funding.

"We have received overwhelming positive response this year," said Melissa Rabeaux, the CEVS chairman. "The Pecan Street Project is a real draw: start-ups and investors want to get close to one of the nation's leading efforts in this very hot field."

Underlying the Pecan Street Project is:

  • The installation of 320,000 smart meters in Austin
  • A goal of 300 megawatts of distributed generation
  • Unique regulatory flexibility of the Texas grid
  • Private sector grid access
  • Utility participation
  • Private sector technology expertise in Austin

Start-ups focused on distributed generation, smart grid, energy conservation, load management, storage, and other PSP focus areas have applied and continue to apply for consideration in the CEVS competition this autumn. Prizes include: marketing and PR packages, deferred legal fees, incubation support and access to the Emerging Technology Fund, and the opportunity to interact with Austin Energy and corporate partners, among others. The deadline for application to compete is September 11, 2009.

Investors have responded enthusiastically. Already, 20 venture capital firms and angel groups have committed to attend, although the event is still almost two months away. Many of those firms have also agreed to help judge the competition.

Start-ups, investors, and others interested in learning more about CEVS should browse the website, http://www.cleanenergyventuresummit.com, or contact Laura Benold, lbenold@ati.utexas.edu or (512) 305-0022, for more information about the event.

About Austin Energy:
Austin Energy is the nation's 9th largest community-owned electric utility. It provides service within the City of Austin, Travis County, and a small portion of Williamson County. As a publicly owned power company and a city department, Austin Energy returns profits to the community annually. The utility has provided $1.5 billion in profits to the community since 1976.
Austin Energy powers the capital city of Texas through a diverse generation mix including: nuclear, coal, natural gas, and renewable energy sources. Austin Energy has created the top performing renewable energy program in the nation and owns the nation's first and largest green building program. It is home to one of the nation's most comprehensive residential and commercial energy efficiency programs.

About the Austin Technology Incubator Clean Energy Incubator:
The ATI Clean Energy Incubator (CEI) provides young clean energy companies with the resources they need to succeed and grow into self-sustaining entities that contribute jobs to Austin and intellectual capital to the world. Located in Austin, Texas, CEI provides the resources and facilities necessary for start-up companies to attract funding, aggressively compete in the free market and turn ideas into reality. http://www.ati.utexas.edu

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Melissa Rabeaux

Melissa Rabeaux
Visit website