Sustainable: Six clean tech startups chosen for Energy Alley | Finance & Commerce
Sustainable: Six clean tech startups chosen for Energy Alley Finance and Commerce
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Clean Energy Economy Minnesota Launches “Energy Alley” to Develop State as Clean Tech Hub
Clean Energy Economy Minnesota recently launched “Energy Alley” with the aim of developing the state as a clean tech hub. The initiative aligns with the Sustainable Development Goals (SDGs) and seeks to promote sustainable development in Minnesota.
Partnership with Grid Catalyst
Clean Energy Economy Minnesota (CEEM) has partnered with startup incubator Grid Catalyst for the Energy Alley project. Together, they have selected six companies to be part of the inaugural cohort. These companies will receive funding for pilot projects with Minnesota-based partners.
Promoting Clean Tech Startups
The goal of Energy Alley is to boost the fortunes of promising clean tech startups by linking them to Minnesota partners. The program focuses on various areas, including ammonia as a power source, carbon sequestration, residential battery storage, electric vehicle charging, industrial solar heating, and infrastructure mapping using artificial intelligence.
- Ammonia as a power source
- Carbon sequestration
- Residential battery storage
- Electric vehicle charging
- Industrial solar heating
- Infrastructure mapping using artificial intelligence
If successful, these companies have the potential to create more jobs in Minnesota, from suppliers to spinoff enterprises.
Budget and Funding
The Energy Alley program has a budget of $3 million, with CEEM investing $850,000 in the inaugural cohort. CEEM has matched the selected companies with Minnesota-based companies that are willing to pilot their technologies and provide expertise in areas such as law and finance.
Attracting Companies to Minnesota
Four out of the six selected companies have headquarters in other states, which is uncommon for a state-funded program. However, CEEM hopes that the Energy Alley experience with local partners will encourage some of these companies to relocate to Minnesota or open offices in the state. This initiative aims to prevent local startups from relocating to states with more affluent pockets of venture capital and local funding.
Selected Startups
Carba
Carba is a startup that has developed a bioreactor to turn trees and yard waste into carbon for sale or underground burial. The company will be working on a pilot project with the city of St. Paul to address wood waste caused by the emerald ash bore disease. Carba’s technology breaks down the waste through heat, and they are seeking a larger pilot project to attract more investment.
Aza Power Systems
Aza Power Systems has created a technology to produce green ammonia that could replace diesel fuel in machinery and off-road vehicles. The company will partner with the Center for Microgrid Research at the University of St. Thomas. Aza’s technology is particularly relevant in the Midwest, where manufacturing plays a significant role in the economy and contains hard-to-decarbonize processes.
Blip Energy
Blip Energy, based in Chicago, offers a small and affordable residential battery targeted at lower-income residents. The battery helps mitigate the impact of power outages on food spoilage and ensures electricity for personal medical devices. Blip Energy will collaborate with Minnesota Power on a pilot project involving at least 20 households in its territory.
SolarSteam
SolarSteam, based in Calgary, Alberta, uses mirrors to concentrate sunlight and generate steam or hot water for industrial, agricultural, heating, and cooling processes. The company will have matching funds from Alberta for the Minnesota project and will invest the final third of the budget itself. This collaboration with Minnesota marks the first state involvement in a national strategy SolarSteam has been developing with the U.S. Department of Energy.
NeoCharge
NeoCharge, a California-based company, has developed a 240-volt “Smart Splitter” product that allows users to plug in two electric vehicles or another 240V device simultaneously. The company aims to test its software at St. Thomas’ microgrid center as part of the Energy Alley cohort.
Prezerv
Prezerv, headquartered in Massachusetts, provides an AI-powered 3D mapping tool that helps illustrate underground civil infrastructure. The technology is beneficial for various industries, including renewable energy, municipalities, utilities, and transportation entities. Prezerv will partner with American Engineering Testing Inc.
Benefits for Minnesota
Energy Alley’s collaboration with out-of-state startups brings special expertise and knowledge to Minnesota-based companies. The initiative aims to strengthen connections within the innovation community and foster adoption, investment, and customer relationships. The long-term goal is to have future cohorts filled with Minnesota startups, showcasing the state’s commitment to sustainable development and clean tech innovation.
SDGs, Targets, and Indicators
1. Which SDGs are addressed or connected to the issues highlighted in the article?
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation, and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 13: Climate Action
2. What specific targets under those SDGs can be identified based on the article’s content?
- SDG 7.2: Increase substantially the share of renewable energy in the global energy mix.
- SDG 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes.
- SDG 11.1: Ensure access for all to adequate, safe and affordable housing and basic services and upgrade slums.
- SDG 13.2: Integrate climate change measures into national policies, strategies and planning.
3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?
The article does not explicitly mention any indicators for measuring progress towards the identified targets. However, potential indicators could include:
- Percentage increase in renewable energy generation in Minnesota’s energy mix.
- Number of infrastructure upgrades and retrofits implemented using clean and sustainable technologies.
- Percentage increase in access to adequate, safe, and affordable housing and basic services in Minnesota.
- Integration of climate change measures in Minnesota’s policies, strategies, and planning.
Table: SDGs, Targets, and Indicators
| SDGs | Targets | Indicators |
|---|---|---|
| SDG 7: Affordable and Clean Energy | 7.2: Increase substantially the share of renewable energy in the global energy mix. | Percentage increase in renewable energy generation in Minnesota’s energy mix. |
| SDG 9: Industry, Innovation, and Infrastructure | 9.4: Upgrade infrastructure and retrofit industries to make them sustainable, with increased resource-use efficiency and greater adoption of clean and environmentally sound technologies and industrial processes. | Number of infrastructure upgrades and retrofits implemented using clean and sustainable technologies. |
| SDG 11: Sustainable Cities and Communities | 11.1: Ensure access for all to adequate, safe and affordable housing and basic services and upgrade slums. | Percentage increase in access to adequate, safe, and affordable housing and basic services in Minnesota. |
| SDG 13: Climate Action | 13.2: Integrate climate change measures into national policies, strategies and planning. | Integration of climate change measures in Minnesota’s policies, strategies, and planning. |
Behold! This splendid article springs forth from the wellspring of knowledge, shaped by a wondrous proprietary AI technology that delved into a vast ocean of data, illuminating the path towards the Sustainable Development Goals. Remember that all rights are reserved by SDG Investors LLC, empowering us to champion progress together.
Source: finance-commerce.com
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