Four Clean Energy Startups Selected for Launch Alaska Business Accelerator
ANCHORAGE, AK: Launch Alaska has announced the four companies to participate in its 2018 business accelerator in Anchorage, AK. Four energy companies will complete a four month intensive program and receive mentorship, business training, business services, and $75,000 in exchange for equity in their companies.
With the highest cost of electricity and some of the highest per-capita energy consumption in the U.S., Alaska is hungry for energy innovation because of the out-sized impact that energy costs have on residents’ pocketbooks. Participation in the cohort provides a unique opportunity for a company to test its technology in remote and harsh conditions.
Meet The 2018 Launch Alaska Cohort Participants:
• BoxPower: BoxPower provides innovative infrastructure solutions to off-grid and under-served markets worldwide and has developed the world's largest containerized hybrid renewable energy system. The company designs and manufactures custom, modular, off-grid energy systems for any application, with the goal of bringing their technology to the 1.2 billion people worldwide without grid electricity.
• Carter Wind: Carter Wind is a manufacturer of next generation wind turbine technology that is self-erecting and designed for utility, distributed, and micro-grid power generation applications in the most remote, extreme environments.
• Correlate: Correlate is a Virtual Energy Manager for businesses that leverages a artificial intelligence platform to create, deploy and manage low-cost custom strategic energy programs that reduce risk and increase energy savings.
• Omega Grid: Omega Grid is a peer-to-peer blockchain energy platform that removes the revenue risk of distributed generation of utilities, encourages energy investment by property owners, and enables access to lower rates for everyone.
“The companies selected for the Launch Alaska program offer promising innovations for the energy sector here in Alaska and globally,” said Isaac Vanderburg, Manager Director, Launch Alaska. “We look forward to working closely with these innovators to begin solving some of the state's most intractable problems - leveraging emerging technologies like AI and blockchain to address energy cost and deployment challenges. Alaska can and should be a hub for innovative solutions to meet some of the most pressing global challenges.”
The companies were selected through a series of interviews and evaluations to assess the viability of their technologies, their potential market applications, and their scalability. Evaluations were led by entrepreneurs and business leaders with regional expertise. Over the next three years, Launch Alaska plans to fund at least 30 innovative companies that can leverage emerging “Arctic Tech” to meet Alaska’s local energy, food, water and transportation challenges, with an eye toward extending their impact to remote communities throughout the world.
"ACEP was pleased to see the selected companies emerge from a highly qualified group of applicants, said Erin Whitney, Data Collection & Management Program Manager, Alaska Center for Energy and Power. “We are excited to continue to showcase Alaska as a global leader in microgrid technologies that can foster entrepreneurship, as well as a rigorous testing ground for emerging technologies."
Each company will receive $75,000 in funding in addition to intensive mentoring, technical assistance, facilities and networking connections from the Launch Alaska mentors and partners. At the conclusion of the program, participants will be invited to showcase their efforts to both the mentoring teams, potential third-party investors and the local community during the Launch Alaska Accelerator Demo Day on June 28, 2018. Launch Alaska may select the most promising companies for their Deployment Track which includes additional funding and mentoring to demonstrate and commercialize their technology.