LuminAID Lab and Bearing Analytics Capture $100,000 Grand Prizes at 2013 Clean Energy Challenge
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http://pdf.reuters.com/htmlnews/8knews.asp?i=43059c3bf0e37541&u=urn:newsml:reuters.com:20130405:nBw055716a http://www.businesswire.com/news/home/20130405005716/en Clean Energy Trust Awards More than $350,000 in Cash Prizes to Clean Energy Startup Businesses CHICAGO--(Business Wire)-- The Clean Energy Trust named solar-powered inflatable light maker LuminAID Lab the early-stage winner of the 2013 Clean Energy Challenge and Bearing Analytics, of Purdue University, the winner of the Student Challenge. Each company received a $100,000 grand prize sponsored by the U.S. Department of Energy. Inspired by the 2011 earthquake in Japan, LuminAID Lab`s founders designed its lightweight, ship-flat solar-powered light to fulfill the need for light in natural disaster situations. The company has sold more than 30,000 thus far and is working on a next generation version, according to LuminAID co-founder Andrea Sreshta. Bearing Analytics, of Purdue University, offers a patent-protected temperature and vibration sensing solution to the industrial bearing market. This technology allows users to predict bearing failure before it happens, helping to alleviate safety concerns, prevent costly gearbox failures in wind turbines, extend product lifetimes and increase energy efficiency. Bearing Analytics will go on to compete at the 2013 National Clean Energy Business Plan Competition in Washington, D.C. this summer. Additional prizes were awarded to SmarterShade, SkySpecs, Amplified Wind Solutions and Ornicept. SmarterShade, an Indiana-based company that makes an innovative film system to instantly darken windows, received the $50,000 Chicago Lakeside Prize, sponsored by McCaffery Interests. SkySpecs, a University of Michigan-based firm that uses an unmanned aerial vehicle, or drone, to monitor wind turbines, bridges and other infrastructure, won the $10,000 Invenergy Renewable Ideas prize. Nicole Zmij, CEO of Amplified Wind Solutions out of Cleveland State University, was awarded the ComEd and Clean Energy Trust-sponsored Breaking Barriers in Cleantech award for her role as an outstanding female entrepreneur. Amplified Wind Solutions harnesses wind energy to self-power cell towers, particularly in remote locations. The Clean Energy Challenge Judges spontaneously agreed during deliberations to pool together from their own money a special $10,000 prize for Ornicept, an early-stage competitor from Ann Arbor, Michigan that analyzes endangered bird migration patterns to help wind developers comply with siting regulations. "The Challenge is designed to uncover the very best in clean energy technology startups and kickstart their development," said Amy Francetic, Clean Energy Trust executive director. "This year`s teams inspired us beyond expectation. The judging was very competitive. We are grateful for the support of our sponsors, board and judges for their help in creating more prizes for these creative entrepreneurs." This year`s competition included businesses from Illinois, Indiana, Michigan, Missouri, and Ohio. Student winners were selected in each state. The anchor partners for the Student Challenge - Missouri Energy Initiative, NorTech, University Clean Energy Alliance of Ohio, University of Michigan, and the Wisconsin Energy Research Consortium-provided support and guidance for all Student Challenge finalists. Six state prizes were previously awarded to Student Challenge competitors in statewide competitions. State University Company Illinois University of Chicago Effortless Energy Indiana Purdue University Bearing Analytics Michigan University of Michigan SkySpecs Missouri Washington University in St. Louis Aerosol Control Technologies Indiana Purdue University Bearing Analytics Wisconsin University of Wisconsin-- Madison Track Gen Eight early-stage and eight student finalists presented their business plans to a distinguished panel of nationally renowned investors, policy makers and entrepreneurs at the 2013 Clean Energy Challenge, held April 4th in Chicago. All of the Challenge finalists received coaching, training and business planning assistance from dozens of volunteer mentors coordinated by the Clean Energy Trust, a nonprofit technology accelerator that connects entrepreneurs, researchers and early-stage companies with the expertise and capital to become sustainable. The Clean Energy Challenge is the signature event of the Clean Energy Trust. The 2013 Clean Energy Challenge sponsors include: United States Department of Energy,Advanced Energy Economy, Ernst & Young, GE, Joyce Foundation, McCaffery Interests, SC Johnson, United Airlines, Wells Fargo, Abbott Laboratories,Ameren, Invenergy, Missouri Energy Initiative,Nortech, Northwestern University, Purdue University,Skadden, University of Illinois, University of Illinois at Chicago,University of Missouri, Wanxiang America Corporation,Wisconsin Energy Research Consortium,ARCH Venture Partners, Applied Ventures,BP Alternative Energy, ComEd, Danfoss Group Global, DTE Energy,Dow Venture Capital, Exelon Corporation, Illinois Ventures, Johnson Controls,Illinois Department of Commerce and Economic Opportunity,Katten Muchin Rosenman, Khosla Ventures,Kleiner Perkins Caufield and Byers,Lincoln Renewable Energy, Missouri Technology Corporation, New World Ventures, Next Energy,Renergy Capital, Sidley, Steptoe & Johnson,Technology Partners,True North Venture Partners, UK Trade & Investment, Venrock, Walgreens, Agentis Energy, Baird Capital, Case Western Reserve University Great Lakes Energy Institute,Dominion Community Foundation,EDP,Northeast Ohio Public Energy Council,Ohio State University Office of Energy & Environment,Shaw Group, Silicon Valley Bank, University of Dayton and University of Missouri. About Clean Energy Trust: The Clean Energy Trust was founded by prominent business and civic leaders to accelerate the pace of clean energy innovation in the Midwest. The trust is supported by grants from the U.S. Department of Energy, the Small Business Administration and donations from more than 60 investors, corporations, universities, foundations and trade groups. For more information, visit www.cleanenergytrust.org. About the Department of Energy Office of Energy Efficiency & Renewable Energy DOE's Office of Energy Efficiency and Renewable Energy invests in clean energy technologies that strengthen the economy, protect the environment, and reduce dependence on foreign oil. Click here for the Funding Opportunity Announcement about DOE`s efforts to promote a new generation of energy entrepreneurs. For EERE`s Commercialization website, click here. Aileron Communications Dave Lundy, 312-629-9400 email@example.com or Clean Energy Trust Amy Francetic, 847-899-2225 firstname.lastname@example.org Copyright Business Wire 2013