"This win on top of the other wins Dynamo has accumulated reflects well on the potential of the technology and the business, and on the value of a high quality incubation process."
Golden, CO (PRWEB) August 08, 2012
Clean Energy Alliance, Inc., the national association of clean energy business incubators, announced that a “mentee” start-up participating in the Department of Energy Small Business and Clean Energy Alliance Partnership was one of three winning companies in the New Energy Symposium competition on July 18, 2012. Dynamo Micropower is being mentored by CEA member-incubator Greenpower Labs in Boston, Massachusetts with support from the DOE-CEA Partnership.
The Seventh Annual New Energy Symposium was held July 18-19, 2012 at the New York Academy of Sciences in New York City. The event featured presentations by 15 emerging cleantech startups as they pitched to a panel of over 40 regional and national VCs, angels, private equity investors, corporate VCs, investment bankers, and government executives at the Investment Pitch Competition.
“Congratulations to Dynamo Lab for a great investment pitch at the New Energy Symposium and great work with this important burgeoning portable generation technology,” said James F. Groelinger, Executive Director of the Clean Energy Alliance. “Greentown Labs has been working very diligently with Jason Ethier and the Dynamo team, and this win on top of the other wins they have accumulated reflects well on the potential of the technology and the business, and on the value of a high quality incubation process.”
"Jason Ethier and his team at Dynamo have done an incredible job in developing a business strategy to capitalize on the innovative turbine solution they have designed and built here at Greentown Labs. I’m thrilled to see their hard work beginning to pay off and have great expectations for their future," said Jason Hanna, Managing Director of Greentown Labs. “This win is yet another validation that will help propel them to the next stage in their business. Congrats!"
"It is an honor to win the New Energy Symposium pitch competition, and it is a great indication that we are on the right track," said and Jason Ethier, founder & CEO of Dynamo Micropower. "Mentorship and a start-up environment have been extremely valuable for our growth as a company and as entrepreneurs, and we at Dynamo Micropower are very thankful for the support of Greentown Labs and the DOE-CEA Partnership."
CEA was also a sponsor of the New Energy Symposium, and CEA Executive Director James F. Groelinger was a panelist at the Symposium session entitled, “Importance of IP & Strategies for Commercialization.”
The Department of Energy Small Business and Clean Energy Alliance Partnership is supported by an American Resource and Recovery Act grant of approximately $1.2 million. Through the members of CEA, the Partnership is providing mentoring and commercialization services to cleantech companies that have received federal support.
The Clean Energy Alliance (CEA), a non-profit organization founded by National Renewable Energy Laboratories, is the national association of leading business incubators and other entities dedicated to providing technical, business and financial services tailored to the needs of the cleantech business development community. CEA focuses on developing practices and resources that support cleantech business incubation, entrepreneurial mentoring and development, and technology commercialization. http://www.cleanenergyalliance.com
Greentown Labs is an incubation space for early-stage clean energy companies. Founded in 2011 as a grassroots effort led by 4 start-ups seeking prototyping and collaborative space, Greentown now occupies 18,000 square feet of space in Boston’s Innovation District and is presently home to 24 companies. More information at: http://www.greentownlabs.org
The start-up Dynamo Micropower applies recent advances in turbine technology to commercialize small, ultra-portable generators, and currently operates out of Greentown Labs. Dynamo recently completed an NSF SBIR Phase I grant, and previously won a grand prize at the national Startup Open competition and a DOE/U-Launch award, which is funded by the DOE Innovation Ecosystem and administered by the Fraunhofer Center for Sustainable Energy Systems in collaboration with the New England Clean Energy Foundation, the Association of Cleantech Incubators of New England (ACTION), and the Massachusetts Clean Energy Center. http://www.dynamo-micropower.com