Four More Rising Stars Pitch at Spotlight Event

Four More Rising Stars Pitch at Spotlight Event

On November 12, we held the last Spotlight Pitch event of the year.  Over 70 people signed up.  The presenters made an extra effort to tune up their pitches and the result was some of the best pitches we have heard this year.  The videos of the pitches and the Q&A are available below.  You can review the quick version or the full version.  You should take the time to explore them.

Kevin Wolf of WindHarvest talked about his vertical axis wind turbine that fills-in on the used land between the big horizontal wind turbines and captures the near-ground, turbulent air that is missed now.  He has a lot of interest and in fact has raised his minimum amount in a crowdfunding campaign to order a prototype of his latest design, the one he thinks is ready to commercialize.  When manufacturing in volume, he believes his standard 70 kW machine will cost $1800/kW, which would be very competitive.  His unique turbine has been perfected through careful “aeroelastic” modeling and he believes that will be the key to his success.  He has gone through several versions with increasing success, but this latest one will be the real test.  He hopes to have results in 2022.

Ezra Beeman of Empower Energy in Davis reported on his latest 14 kWh home energy storage device.  Because his device combines several functions into one integrated unit, he believes his product will be the most cost effective and easiest to install one on the market.  He is looking to start sales in 2021.  Most of the questions were centered on whether he should raise more than the $1 million he is currently seeking.

Ever get annoyed at the glare from the headlights from on-coming traffic at night?  What if that could be virtually eliminated by tightly controlling the headlight beam to light the highway?  Dick Flasck of RAF Electronics showed off his latest version of his LED-based directional lighting product.  He thinks he may have cracked the code on solving the headlight glare problem with the bonus of saving two-thirds of the energy now used in the best LED headlights now used in vehicles.  In electric vehicles, that gain in efficiency would translate into greater range.  But that is not where Dick is starting.  He identified another market where he thinks entry is much easier—theatrical lighting.  In that application, his technology would reduce energy consumption 80% over the conventional incandescent lights (from 750 watts per light to less than 80 watts), and improve the quality of the lighting.  Disney is very interested in this for its cruise ships that have big theaters for live performances.  The lower power use also translates into cooler fixtures that can be put in more confined spots that the hot lights can not.  The theatrical lighting market is a lot bigger than most know, so he sees this as a good place to start to build his business while he works to get his technology qualified for vehicle use.

Michael Carroll of Helios Altas presented his very clever micro-hydropower generator, intended for remote locations where the water flowing in a channel or stream is only 15 cm deep.  Other microhydro units generally require several feet of water depth to work.  Micro hydropower is so challenging because most ways to tap it are so costly on a cents/kWh basis.  They require a great deal of civil works and the turbine-generator itself is heavy and expensive.  Mike has turned all this on its head.  His PowerWheel is lightweight, simple, and inexpensive.  Two people can install it.  The installation itself is simple and can be done without skilled labor.  It’s a little hard to describe but the best way to understand it is to look at the pictures on his website (https://www.heliosaltas.com/), especially the 5 minute video.  Once you see it, you get it.  He announced that Siemens has now agreed to partner with him and market the product through its channels.  That’s a big deal for HeliosAltas, so congratulations!  Mike has installations both overseas and in the US, so the product is getting a lot of attention.  The smallest unit has a 500-watt capacity, and the largest is planned to be 5-10 kW.  The individual PowerWheels can be ganged together in series in a water channel or in parallel across a stream.  And they can be moved to other locations if stream conditions change.  When you see it, you wonder, “Why didn’t someone think of this before?”  That’s a sign of a good idea.

Our next Spotlight Event will be next year, probably in March, so keep on the lookout for our announcement.  Be sure you subscribe to our newsletter.  It’s the best source to keep on top of cleantech innovation and startups in our region. 

Thomas Hall

ABOUT THE AUTHOR

Gary Simon is the Chair of CleanStarts Board. A seasoned energy executive and entrepreneur with 45 years of experience in business, government, and non-profits.

CleanStart Sponsors

Weintraub | Tobin, EYBlueTech Valley, Revrnt, Moss Adams, PowerSoft.biz

Momentum, College of Engineering & Computer Science at Sacramento State

Opportunity Knocks! Find Out How Feb. 12

Opportunity Knocks! Find Out How Feb. 12

On February 28 CalSEED is opening the window for accepting 2020 applications for their $150,000 Phase I grants for proof of concept from early stage startups.  This is a golden opportunity to get funding.  It is not a loan and not a sale of shares.  It’s a grant, and no matching funds are required. Interested?

We are hosting a workshop for companies to learn more details about the application process.  There will be two sessions held Feb. 12 at Hacker Lab; Rocklin will hold one at 1:30 pm and Sacramento will be in the evening starting at 6:00 pm.  Put it on your calendar and RSVP below. CalSEED will be looking to fund 6-7 companies from the Central Valley, so prospects are good.  Don’t miss out.

This funding opportunity is designed for early stage startups working on clean energy anywhere in California. CalSEED is open to any California based individual, group, company or organization with an early stage innovation. Don’t forget to familiarize yourself with the Application Manual before applications open. Visit calseed.fund/apply for more details. #CalSEED2020

This CalSEED Concept Award provides promising innovators not only with $150,000 in grant funding, but also unprecedented professional development resources and access to California’s best accelerators and incubator programs! Phase 1 Award winners are also eligible for an additional $450,000 in Phase 2 to advance their ideas.  

Powered by New Energy Nexus and its mission to create a 100% clean energy economy for 100% of the population, CalSEED supports diverse entrepreneurs who deliver equitable outcomes from their cleantech innovations.  CalSEED is made possible by the California Energy Commission and funded through the Electric Program Investment Charge (EPIC).

Follow us on Social Media to keep upto date!

Big Buzz at the Global Summit–And More

Big Buzz at the Global Summit–And More

Sacramento just had its biggest tech startup event ever.  This Tuesday (May 8) seven clean tech companies got some great exposure when they found themselves in a room of 1,000 people at the Second Impact Global Venture Summit at the Golden 1 center.  There was Athena Intelligence, CarbonBlu, Enerdapt, Empower Energy, Tenkiv, Terzo Power, and Solar Roof Dynamics. Jack Crawford, Impact VC General partner, kicked off the event welcoming startups and investors to the capital of the 5th largest economy in the world. Excitement continued with speakers from Mayor Steinberg, to Betty Yee, and to panels of active investors.  This was a big step-up from the First Summit last year, which was very good itself.

At rows and rows of exhibit tables, 75 tech companies of all types were showcased on the floor of the Golden 1 center, surrounded by investor and panel discussions that were recorded and shared around the world.  It was an amazing event. CleanStart had its own table and encouraged investors and supporters to take a close look at all the green companies not only at the show but also on our map of the 100 core cleantech companies in the region.

Checking with our exhibitors at the end of the day, they all said they made many important connections to potential investors, to advisors, and to potential customers.

There is huge value in getting this kind of attention.  This Summit and the Five Star Bank invitation-only pitchfest in March have really put Sacramento on the radar screen for investors.  There will be another Summit next year, and Five Star is hoping to do two of its events each year. The next is planned for the fall.  These are golden opportunities for startups to get in front of the right people, and CleanStart is here to help get you in the pipeline.  Both events are selective, so preparation is essential. There are other events outside the region that can be very good as well, but are even more competitive while offering significant cash prizes.  The Clean Tech Open is one of those, and we also can help get you in there.

And don’t forget the Big Bang competition at UC Davis each year.  We sponsor a special prize for the best clean tech business plan in the Big Bang, available along with the other standard prizes for the top three overall.  The rules now are much less restrictive on who can participate, so don’t overlook this opportunity.

If you need to raise money, these are some efficient ways to get your story out to the right crowd.  Contact us if you want to know more.

 

Thomas Hall

ABOUT THE AUTHOR

Gary Simon is the Chair of CleanStarts Board. A seasoned energy executive and entrepreneur with 45 years of experience in business, government, and non-profits.

Blockchain and Bitcoin

Blockchain and Bitcoin

A Brief History of Cryptocurrencies

Bitcoin is not all that new and has existed since 2009.  The technology it is built on has roots going back even further. In fact if you had invested just $1,000 in Bitcoin the year it was first publicly available, you would now be richer by $36.7 million.  The internet has exploded with “information” on cryptocurrencies and it is hard to get a comprehensive and clear picture of what is going on.  In addition, there are any number of cautions that this is an area ripe for fraud, collapse, and disappointment.  On the other hand, some like Jamie Dimon of JP Morgan have admitted they dismissed cryptocurrency too quickly.  It is wise to be aware of the risks.

A Chronology of How it All Started

The first conceptualized BlockChain technology application emerged in 2008 as a form of cryptographically virtual currency, Bitcoin. An anonymous person or a group called Satoshi Nakamoto published a whitepaper “Bitcoin: A Peer-to-Peer Electronic Cash System (1)” describing Blockchain as a distributed generate ledger managed by an open-ended decentralized database system.

 

In 2009 the Bitcoin software was made available to the public for the first time and “mining” – the process through which new Bitcoins are created and transactions are recorded and verified on the blockchain – begins.

Initially it was not traded, only mined.  It was impossible to assign a monetary value to the units of the emerging cryptocurrency. In 2010, someone decided to sell theirs for the first time – swapping 10,000 of them for two pizzas. If the buyer had hung onto those Bitcoins, at today’s prices they would be worth more than $100 million.  Unfortunately, that likely did not happen.

Some initial success with Bitcoin spawned some competitors. These alternative cryptocurrencies generally try to improve on the original Bitcoin design by offering greater speed, anonymity or some other advantage. Among the first to emerge were Namecoin and Litecoin. Currently there are over 1,000 cryptocurrencies in circulation with new ones frequently appearing.

In late 2013, Vitalik Buterin addressed a few hurdles within the Bitcoin’s system and proposed Ethereum. He further proved that the BlockChain technology has a broad-spectrum of utilization rather than merely virtual currencies. Nowadays, Ethererum (2) has become the most well established decentralized software platform that enables distributed applications (3) (DApps) to be built and run without any downtime, fraud or control from a third party.

By 2014, the first fraud and theft was unveiled.  Perhaps unsurprisingly for a currency designed with anonymity and lack of control in mind, Bitcoin has proven to be an attractive and lucrative target for criminals. In January 2014, the world’s largest Bitcoin exchange Mt. Gox went offline, and the owners of 850,000 Bitcoins never saw them again. Investigations are still trying to get to the bottom of exactly what happened but whatever the story, someone dishonestly got their hands on a haul which at the time was valued at at $450 million dollars. At today’s prices, those missing coins would be worth $4.4 billion.

ICOs:  The Parallel to IPOs

Initial Coin Offering (ICO) (4) is a crowdsale event when a company raises money to fund its blockchain project or DApp. The company first decides a fixed supply of tokens used for future services or products (only if the project succeeds) and then sells a predetermined amount of tokens to its intended audiences in exchange for Ether, Bitcoin, and occasionally Fiat money. But if the project fails, the tokens become worthless.

The benefit of fundraising via ICO is that project developers retain 100% of a company’s ownership while the process is not strictly regulated when compared to IPO. On the other hand, investors will be rewarded by either trading on the initial price momentum or holding for an increased value in the long run.

As of the second half of 2017, the amount of money raised by early stage start-ups via ICOs has surpassed early-stage venture capital funding for Internet companies. Meanwhile, both entrepreneurs and investors have become skeptical and believed regulators would soon step in due to a high number of scams (5).

Distributed Apps in Energy

According to a survey conducted by ESMT in late 2016, 69% of the 70 respondents were aware of Blockchain in the energy industry, but only 13% of the respondents had already implemented their experiments with the technology. Also, surveyed energy professionals believed that Blockchain could be utilized to both process optimization and improving market platforms.

The first energy ICO was completed on October 6th by Power Ledger. According to Coindesk (7), the Australian blockchain startup raised $17 million in the token sale and collected roughly 27,820 Ethers, 1,050 Bitcoins, and 6,120 Litecoins from more than 15,000 supporters. Power

Ledger’s solution (8) is a trading platform using Ethereum’s software. The platform enables consumers to sell energy to their peers without the need of a trusted third party. The white paper also refers the technology that allows consumers to monetize their excess energy in much the same way as Uber and Airbnb allow people to monetize their cars and spare room.

Final Thoughts

We believe the Blockchain technology will become disruptive in the energy space the same way as it has done to payment, logistic, cloud storage, etc. Meanwhile, ICO has become a popular methodology enabling entrepreneurs to bootstrap. Yet given the early stage of the technology development, there are still many inconsistencies and risk factors. For example, identifying blockchain application is critical since blockchain is not the solution to everything in the world. Secondly, once after an ICO, a company with a low-security level can become extremely vulnerable from cyber attacks.

Currently cryptocurrencies are relatively unregulated.  This is not likely to continue, as the trend continues as shown in the chart above and as more and more cases of fraud and abuse are uncovered.  The amount of money involved in the cryptocurrency world–over $500 billion–and the huge returns are very likely to attract those that will try to exploit the situation.

 

References:

  1. https://bitcoin.org/bitcoin.pdf
  2. https://www.investopedia.com/articles/investing/022516/what-ethereum.asp
  3. https://blockgeeks.com/guides/dapps/
  4. https://cointelegraph.com/explained/ico-explained
  5. https://techcrunch.com/2017/12/05/hope-grows-that-a-larger-sec-crackdown-on-icos-is-coming-and-soon/
  6. https://www.esmt.org/sites/default/files/dena_esmt_studie_blockchain_english.pdf
  7. https://www.coindesk.com/34-million-australian-blockchain-startup-power-ledger-completes-ico/
  8. https://powerledger.io/media/Power-Ledger-Whitepaper-v3.pdf

ABOUT THE AUTHOR

Qidong is a CleanStart Associate who follows new technologies that can connect with his passion for sustainability, education and economic empowerment. Helping CleanStart and clean tech startups in the Sacramento Region, he is looking to help positively impact the world. He recently graduated from UC San Diego and has a B.S. in Managerial Economics. His multicultural background helps companies approach problems from new perspective.in the region.