Detroit, MI (PRWEB) November 15, 2013
Over 50 Michigan business owners pitched their businesses throughout the semi-final round of the Accelerate Michigan Development Competitors, which occurred in Detroit earlier this week. NextEnergy provides recurring support to 11 of the business that made it to the semi-finals, and three of those companies took house prize money totaling $ 175,000.
. We couldnt be more happy that 3 companies we support won honors and prize money at this weeks Accelerate Michigan Development Competition, stated NextEnergy Head of state and CEO, Jean Redfield. These are high-potential companies led by skilled individuals, working to advance energy efficiency in production, the uptake of innovative products for transportation, and advanced battery systems for vehicle electrification. The cash prizes will accelerate the commercialization of their products and drive more investment and jobs in Michigan.
. Ann Arbor-based Covaron Advanced Materials won 2nd total with a prize money of $ 100,000. Covaron Advanced Materials has developed a patent-pending product called PETRAFORGE. This thermosetting ceramic does not should undergo the high-cost, energy-intensive (3600 F) heat sintering procedure required for advanced ceramics. Instead, it can be treated at considerably lower temperature levels (160-200 F), which produces huge potential for energy-efficient manufacturing.
. Calumet-based REL Inc. won 3rd general with a prize money of $ 50,000. REL is the leader in the development of metal matrix composite (MMC) brake innovation and products, with applications in the automotive and bike markets. These brakes are 60 % lighter, bring about enhanced energy efficiency and car light-weighting.
. Ann Arbor-based Inmatech Inc. won the Option Energy Sector prize with a money prize of $ 25,000. Inmatech is developing next generation supercapacitor gadgets that integrate affordable, high-performance materials that will extend the array and cycle lives of batteries in hybrid energy storage systems.
. Eleven companies that NextEnergy supports made it to the semi-finals in this years competitors including AMF Nano, Covaron Advanced Materials, GreenLancer, Inmatech, Inventev, Nostrum Energy, Ornicept, REL Inc., SkySpecs, TM3 Systems, and Pelastar by Glosten.
. The Accelerate Michigan Advancement Competition is a worldwide business competitors designed to bring entrepreneurial companies together with regional, nationwide and international investors, and showcase the finest brand-new company ideas to foster financial growth in Michigan. The competition was led by the Company Accelerator Network for Southeast Michigan (that includes Ann Arbor SPARK, Automation Street, Macomb-OU INCubator and TechTown), Business Leaders for Michigan, the College Study Corridor (which consists of Michigan State University, University of Michigan and Wayne State University) and the New Economy Effort, which came together to support the improvement of Michigans entrepreneurial environment with a number of collaborative efforts.
. The Accelerate Michigan Advancement Competitors rewarded finalists with more than $ 1 million in cash and in-kind rewards. For a full list of winners, see their website.
. About NextEnergy:
. Founded in 2002 as a 501(c)(3) nonprofit organization, NextEnergy is one of the nations leading accelerators of innovative energy technologies, businesses and industries. NextEnergy drives innovation demonstration and commercialization; delivers industry and endeavor development services; and provides a definitive voice in the general public sector. Given that its beginning, NextEnergy has assisted draw in even more than $ 1 billion of brand-new investment in the state of Michigan, including programs in unwanted of $ 150 million in which NextEnergy has actually straight participated. To learn more, go to http://www.nextenergy.org.