FOR IMMEDIATE RELEASE
CONTACTS:
Linda Hemingway
Director of Market Development & Communications
Sirti
509-358-2031
SIRTI FOUNDATION AWARDS $1.5 MILLION IN GRANTS AND LOANS
Energy Innovation Fund Stimulates Job Creation and
Accelerates Energy Production and Energy Efficiency in Washington
Spokane, WA – December 13, 2010 – The Sirti Foundation, a private foundation established in support of Sirti,
[1] announced today that five projects from among twenty applicants were awarded a total of $1.5 million from the Sirti Foundation Energy Innovation Fund. The Fund was made possible by an award from the Washington State Department of Commerce State Energy Program under the American Recovery and Reinvestment Act. The Energy Innovation fund was created to accelerate technology- based companies in their endeavors to create high quality jobs by bringing innovative solutions to commercial markets in the general categories of energy savings, renewable energy generation, or environmentally beneficial technologies. The Fund is comprised of $750,000 in grant funds and $750,000 in loan funds.
“We received proposals for consideration from twenty organizations located across the State of Washington,” said Jim Roberts, Chairperson for the Awards Committee and Business Development Officer for UW Center for Commercialization. “Our Awards Committee included leaders from across the State with domain expertise in the energy sector as well as product commercialization. We were all encouraged by the outstanding quality, diversity, and state-wide reach of the clean energy innovations presented.”
The five projects selected to receive awards are:
Demand Energy (Spokane County)
Project: Distributed electricity storage devices and network management software
Award: $350,000 ($100,000 loan / $250,000 grant)
Project involves integrating the Demand Energy storage system (30kW) and network management software with renewable (solar) energy resources and installing in a large commercial facility.
Estimating 49 additional jobs and leveraging $3,410,943 in additional funding.
Great Northern Spokane, LLC (Spokane County)
Project: Geothermal heat pump demonstration project
Award: $200,000 ($100,000 loan / $100,000 grant)
Project involves installing a Geothermal Heat Pump as a demonstration project of an existing, but underutilized, clean energy technology. Installation will be at a former Burlington Northern Santa Fe Rail Terminal under redevelopment in Spokane. When completed, it will serve as McKinstry Co.’s Eastern Washington headquarters where they will highlight the benefits of this clean energy technology, and promote its adoption through OUT the McKinstry customer channel.
Estimating 8 additional jobs.
Greenwood Clean Energy (King County) (Partners and Suppliers in Pierce and Spokane Counties)
Project: EPA Phase 2 Biomass boiler manufacturing enhancements
Award: $300,000 ($200,000 loan / $100,000 grant)
Project involves the enhancement of existing methods of production for the Frontier Series biomass boiler. Greenwood’s biomass boilers allow customers to reduce their dependency on carbon heavy heating oil and propane gas, while lowering their costs for space and hot water heating. All manufacturing will be in Washington. Greenwood is expected to be among the first manufacturerS to meet EPA Phase 2 requirements mandated for implementation by October, 2011.
Estimating 39 additional jobs.
Nu Element, Inc. (Pierce County) (Collaboration in Whitman County)
Project: Bio-Aviation, Fuel Battery-Extender Auxiliary Power Unit commercialization
Award: $300,000 ($100,000 loan / $200,000 grant)
Project involves a team comprised of Nu Element Inc., Boeing Commercial Airplanes and Washington State University (WSU) commercializing a Bio-Aviation fuel Battery-Extender Auxiliary Power Unit that incorporates fuel processing and fuel cells for both on-board and ground support operations. Key to the success of the commercial demonstration will be gathering performance data at Boeing’s ecoDemonstrator on a proprietary catalyst developed at WSU.
Estimating 3 additional jobs and leveraging $1,173,911 in existing funding.
WISErg Corporation (King County)
Project: Anaerobic Digester
Award: $350,000 ($250,000 loan / $100,000 grant)
Project involves using an innovative approach to proven anaerobic digestion technology to derive valuable bioresources from municipal organic, compostable materials.
Estimating 27 additional jobs and leveraging $808,139 in additional funding.
“We are enthused by the potential for economic impact and job creation/retention represented by the diverse portfolio of clean energy solutions and companies selected by the Awards Committee,” said Kim Zentz, Executive Director of both Sirti and the Sirti Foundation. “The type of funding represented by this program bridges a treacherous gap in the financing of these innovative projects and companies.”
For more information on the Sirti Foundation Energy Innovation Fund visit www.sirti.org.
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About Sirti Foundation
The Sirti Foundation is a tax-exempt entity that is privately funded through grants and contributions to help support Sirti’s vision and mission. In particular, the Sirti Foundation pursues funding for special projects which help deliver results under Sirti’s mission. The Sirti Foundation has six independent board members representing executive leadership from various industries and three board members from the Sirti Board.
About Sirti
Sirti is an agency of the State of Washington which is a collaboration of business, higher education and government to accelerate the development and growth of technology-based companies in the Inland Northwest, especially in Eastern Washington. Its target clients are innovative technology companies with defensible intellectual property, large market potential, and principals who show a strong desire to grow their business. Sirti offers two state-of-the-art buildings with a total of 40,000 square feet of usable incubation space with wet labs and light manufacturing potential along with full service offices and a sophisticated IT infrastructure. Sirti offers business coaching and management assistance, as well as access to capital and Sirti IP/BizNet legal services. Sirti’s experienced staff and veteran entrepreneurs provide expertise in technology assessment, market research, strategic planning, marketing, finance and management for both start-ups and high-growth businesses.
About Washington State Department of Commerce
The Washington State Department of Commerce is administering more than $200 million in Recovery Act funding. For more information about the Department of Commerce, visit
www.commerce.wa.gov.
[1] Sirti is a Washington State economic development agency focused on accelerating the development and growth of technology companies in the Inland Northwest.