Archive: Business & Technology

Governor Andrew M. Cuomo announced $2.5 million in support Monday to four winners of the 76West Clean Energy Business Competition to advance innovation to lower carbon emissions and spur economic growth in New York State. ThermoAI, a company from Montreal, Canada, received the top $1 million grand prize award for its cutting-edge technology, which reduces carbon emissions and increases energy efficiency, enabling the company to expand its business operations in the Southern Tier. Ithaca company Combplex received $500,000.

This announcement supports Governor Cuomo's mandate for an 85 percent reduction in greenhouse gas emissions by 2050 as directed in the Climate Leadership and Community Protection Act and complements the 'Southern Tier Soaring' strategy to create economic growth and community development in the region.

"Investing in pioneering clean energy technologies is a critical piece of New York's aggressive strategy to combat climate change, reduce greenhouse gas emissions and help create jobs in the process," Cuomo said. "The 76West Competition creates compelling opportunities for companies from around the world to partner with us at the forefront of climate change strategies that tie innovation solutions with growth of the green economy in our state. We congratulate the winners, who will help us build a stronger, greener and more sustainable empire state for future generations."

The 2020 76West winners are:

$1 million grand prize:

ThermoAI, Montreal, QC, Canada - utilizing artificial intelligence, its software helps industrial companies optimize combustion operations with the goal of decreasing greenhouse gas emissions by up to 50 percent and increasing efficiency by up to 20 percent.

$500,000 awards:

AGreatE, Carlsbad, CA - makes renewable energy, such as solar and wind, more affordable and accessible to all people by developing and deploying a wide range of artificial intelligence-enabled, safe, and environmentally friendly battery-based energy storage systems.

COI Energy Services, New York, NY - offers an end-to-end solution that helps utilities and businesses improve building energy performance and grid optimization with software that helps reduce grid constraints and improve capacity utilization while decreasing energy spending and increasing operational efficiency.

Combplex, Ithaca, NY - works to create a more resilient farming ecosystem by eliminating pests that threaten the health of honeybee hives by using low-power laser technology and sensors to collect valuable data, prioritize hive health, inform crop yield forecasts, and identify intensive pesticide use.

Finalists are required to move business operations to the area or establish direct connections with the Southern Tier economy, such as enhancing supply chain opportunities, adding jobs, or establishing other strategic relationships. Competition finalists also receive continued mentoring support for up to two years after the awards are made. If a company is already in the Southern Tier, it must commit to substantially growing their business and employment in the region.

The winners, along with 19 semifinalists, were paired with regional companies for mentorship and advisement as part of advancing through the competition. The semifinalists, selected from over 183 applicants worldwide, presented final project pitches of the competition to a panel of judges in August and were selected based on how their technology reduces carbon emissions, promotes renewable energy or energy efficiency.

Previous competition finalists and semifinalists have successfully integrated themselves into the region, raising $51 million in private capital, making multimillion-dollar investments in property and equipment in the region and spending more than $1.7 million on key suppliers. Past competition winners include: Micatu, Optimus Technologies, Skyven Technologies, EkoStinger, Switched Source, Hub Controls, C4V, Suntegra, ProsumerGrid, SolarKal, Global Thermostat, and Southern Tier Technologies.


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