The Department of Energy’s (DOE’s) Office of Technology Transitions (OTT) today announced $70,000 total to three winning clean energy startups and one incubator through the 2024 Energy Program for Innovation Clusters (EPIC) Prize Collaboration Event.
Office of Technology Transitions
May 15, 2024
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Washington, D.C. – The Department of Energy’s (DOE’s) Office of Technology Transitions (OTT) today announced $70,000 total to three winning clean energy startups and one incubator through the 2024 Energy Program for Innovation Clusters (EPIC) Prize Collaboration Event.
“The EPIC pitch competitions provide an invaluable opportunity to directly support start ups through honing their ideas with experts, and through cash prizes,” said DOE Chief Commercialization Officer and Director of OTT Dr. Vanessa Z. Chan. “Each of the startups today presented outstanding ideas that show promise and commitment to a successful clean energy transition.”
Ten incubators awarded during the first round of EPIC nominated one startup each to pitch their clean energy technology business plan to a panel of industry experts at the White House on May 9, 2024. The teams had five minutes to detail their cutting-edge technology, market opportunity and strategy, business model, and team. The team of three reviewers scored presentation skills, content, and investment potential.
First Place: Cache Energy – developed a non-toxic, non-flammable, and a fire-retardant long duration energy storage solution in a solid fuel that can also be used to supply process heat/steam to industries as well as in commercial and residential heating. Cache Energy won $30,000.
Evergreen Climate Innovations, located in Chicago, IL, won $10,000 for nominating the first-place startup, Cache Energy.
Second Place: Olokun Minerals – provides mineral-based products that help divert harmful drainage water away from ocean life and provides sustainably sourced minerals for a number of different industries. Olokun Minerals won $20,000.
Olokun Minerals was nominated by Los Angeles Cleantech Incubator, located in Los Angeles, CA.
Third Place: Expand Power – developing a compact, light, cost-effective, safe, and smart transformer that can be manufactured domestically with shortened lead times, expanding electrification opportunities in previously prohibited locations. Expand Power won $10,000.
Expand Power was nominated by E4 Carolinas and Joules Accelerator, located in Charolette, NC.
Following the startup pitches, attendees participated in a collaborative discussion led by DOE program managers around supporting startups. Industry experts also held a Q&A session focused on supporting incubators.
In the afternoon, all ten startups and their nominating incubators traveled to Capitol Hill for the opportunity to meet with Congressional representatives and staff. The EPIC teams shared their successes and the impact of EPIC on their ventures.
Congratulations to the EPIC participants on a successful day highlighting their clean energy transition impacts.
About the Department of Energy Office of Technology Transitions
The Department of Energy Office of Technology Transitions (OTT) is one of the largest supporters of technology commercialization in the federal government. Founded in 2015, OTT bolsters the technology industry's market skills and enables clean energy technologies to progress through research, development, demonstration, and to deployment into the private sector to meet our nation’s climate goals. Visit us at energy.gov/technologytransitions to learn more, and subscribe to receive our latest opportunities and accomplishments via email. Follow us on Twitter and LinkedIn.
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