Massachusetts Incubator Will Provide Incubation Services & Mentoring to Save Energy Systems
(Golden, CO) May 31, 2012 —
Clean Energy Alliance, the national association of non-profit clean energy incubators, announced today that CEA member North Shore InnoVentures (NSIV) has been approved for an award from the Dept. of Energy Small Business and Clean Energy Alliance Partnership (DOE-CEA Partnership) to provide incubation and mentoring services to Save Energy Systems, Inc. (SES). The award is valued at $25,000 and will be paid by CEA to NSIV.
The Department of Energy Small Business and Clean Energy Alliance Partnership was created with a $1.2 million grant through the American Resource and Recovery Act to fund commercialization mentoring and acceleration services provided by CEA member incubators to qualifying small cleantech firms. Qualifying firms have received federal financial support, such as Small Business Innovation Research (SBIR) or Small Business Technology Transfer (STTR) grants, among other criteria.
CEA members offer a full range of support services to clean energy start-ups that may include technical support, business planning, finance and banking, legal and accounting, marketing and communications, outreach, networking and access to capital. The specific services SES will receive from NSIV under the DOE-CEA Partnershipinclude development support for: internal systems to enable SES to track its marketing and sales efforts as it grows, independent product and technology testing, and a marketing strategy for one of SES’s target markets.
“CEA is pleased to be able to support CEA member incubator NSIV in providing the critical mentoring services that can help promising clean energy start-ups like Save Energy Systems prosper,” said James F. Groelinger, Executive Director of the Clean Energy Alliance. “This is what the DOE-CEA Partnership is all about. We welcome SES into the Partnership and look forward to watching the impact of this important collaboration during and subsequent to the program.”
“Save Energy Systems reflects the start-ups with world-class potential that North Shore InnoVentures takes pride in nurturing through the fragile early stages,” said Tom Kinneman, Vice President and Chief Operating Officer, North Shore InnoVentures, Inc. “Our talented SES team represents the high caliber of North Shore InnoVentures’ expertise that has built our strong reputation, and we are excited to be able to assist them through the DOE-CEA Partnership.”
“We are very grateful to be included in this prestigious DOE-CEA program,” said Paul Laskow, president and CEO, Save Energy Systems. “We appreciate the support and confidence of DOE, CEA and our colleagues at North Shore InnoVentures and look forward to benefiting from their mentoring services to expedite commercialization of our energy efficiency technology.”
Save Energy Systems has developed a low-cost system that optimizes the ventilation and cooling in commercial buildings, reduces peak demand, and improves energy efficiency. With sophisticated algorithms, the patented Demand Limiting Controller (DLC) monitors ambient and external temperatures to coordinate the performance of HVAC units and reduces energy costs.
The Clean Energy Alliance (CEA) is a national organization of non-profit incubators with a focus on cleantech commercialization. CEA Members are highly-skilled incubators and accelerators that offer a wide range of expertise and facilities in all areas of clean energy technologies. CEA’s mission is to develop and provide to its members practices and resources that support clean energy business incubation, entrepreneurial mentoring and development, and technology commercialization. Non-incubators are also welcome to join CEA. http://www.cleanenergyalliance.com
North Shore InnoVentures (NSIV) is a non-profit 501(c) (3) business incubator headquartered at the Cummings Center in Beverly, MA. NSIV is dedicated to accelerating the growth of innovative early-stage life sciences and cleantech businesses and supporting the economic growth of Boston’s North Shore. Its management, board of directors, advisory board, and mentors bring a wealth of entrepreneurship experience in addition to business development and technical expertise. Further support comes from sponsors who contribute marketing, legal, operational and educational services. http://www.nsiv.org.
About Save Energy Systems
Save Energy Systems Inc., headquartered in Beverly, MA, develops energy efficiency technology. Its patented Demand Limiting Controller (DLC) is an energy management system for businesses that enables small to mid-size commercial facilities to save significant costs on their electric bill. The Company is allied with North Shore InnoVentures, Mass Technology Leadership Council, Boston ENET, and is participating in the MassChallenge and Clean Tech Open. http://www.SaveEnergySystems.com.