The Knoxville Chamber was a packed house Tuesday when the Innovation Crossroad’s innovators pitched their startup before Knoxville’s entrepreneurial community during an Innov865 Happy Hour.
Dozens came out to see the cleantech companies present their next-generation ideas solving global energy challenges.
Innovation Crossroads is a program based at ORNL that matches aspiring energy entrepreneurs with the experts, mentors, and networks in technology-related fields to take their world-changing ideas from R&D to the marketplace.
Several entrepreneurs were selected to transform their ideas into clean energy companies with financial support from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE). Innovators receive a fellowship that covers living costs, benefits and a travel stipend for up to two years, plus up to $350,000 to use on collaborative research and development at ORNL.
The crowd heard from Mitchell Ishmael of Active Energy Systems first. Ishmael is utilizing a saltwater material to store electricity as thermal energy. The method provides a much cheaper alternative to providing onsite backup power for customers than standby generators or batteries. It is expected to encourage the installation of more distributed, renewable power generation.
Ishmael explained how energy storage is still high cost and low efficiency and the resources available to him in East Tennessee could help change that.
“Innovation Crossroads is providing us all a leg up already,” said Ishmael.
Anna Douglas of SkyNano Technologies presented her pitch next. Douglas’ technology utilizes carbon dioxide as feedstock to significantly lower the production cost of carbon nanotubes. The process provides a use for captured greenhouse gases while benefiting clean energy technologies and advanced manufacturing.
“SkyNano Technologies has made immense progress with Oak Ridge National Laboratory, and my company has benefited from the lab’s community connections,” said Douglas.
Finally, the crowd heard from Matthew Ellis and Samuel Shaner of Yellowstone Energy. The two are developing an advanced nuclear reactor with the potential for faster installation while optimizing safety in order to provide a clean source of baseload electricity. The design uses an already licensed uranium fuel with an ambient pressure, high temperature coolant.
“Yellowstone Energy’s solution delivers lower cost, advanced nuclear sooner,” said Ellis.
Tom Rogers, Innov865 Alliance member and Director of Industrial Partnerships and Economic Development at ORNL, stressed to the audience afterwards that applications are still open for Startup Day 2017 pitch competition.
Interested East Tennessee startups have until July 10, 2017 to apply to pitch their business on the U.S. Cellular Stage at the Bijou Theatre in Knoxville. New this year, the Startup Day pitch competition will feature two prize categories: judges’ choice and crowd favorite. Competitors will have an opportunity to win up to $15,000.