Boston – Massachusetts Clean Energy Center (MassCEC) interim CEO Stephen Pike announced $250,000 in funding for five early-stage clean energy companies. Under MassCEC’s new AccelerateMass program, the funds will help new graduates of business accelerator programs develop technologies and business plans and attract additional sources of funding.
The following companies will receive $50,000 each:
- Blackburn Energy of Amesbury is developing a power unit that produces electricity from a truck’s driveline, which can provide heat and air conditioning for sleeper cabs and can eliminate overnight engine idling.
- EverVest of Boston is developing a software platform that provides financial risk analysis and cash flow modelling information to renewable energy investors, allowing for new forms of capital to efficiently participate in the growing renewable energy market.
- PSM Clean Energy of Cambridge is developing an online platform that enables accredited investors to make direct impact investments in local commercial solar projects. PSM intends to use its user base, standards, and platform to accelerate capital flow to other underserved clean energy projects.
- Tank Utility of Boston is developing technology that unifies propane tank monitoring hardware with operational software to remotely measure the actual fill level of consumers’ propane tanks.
- Tessolar of Cambridge is developing a solar panel manufacturing process that allows for the economical use of high-performance materials and lean, low-cost, fully automated assembly, potentially saving up to 30% of the capital expense to install a solar electric system and reducing the lifetime cost of solar-generated electricity by 35%.
“By supporting these companies after they graduate from accelerator programs, we’re addressing a persistent funding challenge for them while increasing opportunities for job creation and innovation in this thriving sector,” said Pike.
