September 17, 2013 - The Rice Alliance for Technology and Entrepreneurship (Rice Alliance) announced the 10 Energy & Clean Technology Venture Award companies at the 11th Annual Energy & Clean Technology Venture Forum in Houston last week. Energy & Clean Technology companies showcased their new offerings at the largest venture capital conference in the Southwest with 450 attendees, including investors, venture capitalists, industry representatives, business leaders, service providers, and entrepreneurs.
The one-day event culminated in an announcement of the 10 Energy & Clean Technology Venture Award companies chosen from 35 presenters and judged by the Rice Alliance Energy & Clean Technology industry experts, based on the companies’ business plan presentations.
Three of the ten most promising companies are based in Houston: Global Material Exchange; Rebellion Photonics and Water Lens, LLC. The other eight companies represented diverse regions, including: AdBm Technologies, nCARBON and Skyonic Corporation of Austin; Turbo Trac USA, Frisco, TX; as well as Inventev - Detroit, MI; MAR Systems - Cleveland, OH and Picasolar of Fayetteville, AR. The announcement of the top companies was made at the end of the program by John Hanten, of Chevron Technology Ventures.
“Every year the quality of companies improves,” said Rice Alliance managing director Brad Burke, who presided over the announcement of the winners of the Energy & Clean Technology Venture awards at the event. “Over the past 13 years, more than 1,400 companies have presented at Rice Alliance Technology Venture Forums. These companies have raised more than $2.1 billion in funding. This speaks to the quality of the companies and to the robust entrepreneurial ecosystem of investors that has been developed to support these companies. Despite the challenging economic environment over the past several years, good companies have been able to attract investors.”
Inventev was named one of the Energy and Clean Technology Venture 10 “Most Promising” Companies at the forum. Inventev is developing mobile power generation and idle-free job site capabilities for up-fit of medium duty commercial trucks. It will employ a new generation of plug-in hybrid transmission architecture also enabling extended range electric drive. Inventev’s first target markets are utility and telecom companies with aerial devices such as bucket lifts.
“The Rice Alliance forum helped Inventev connect into more regional interests of the Houston area such as oil and gas exploration and its related service industry and investors,” said Dave Stenson, Inventev Founder and CEO. “This sector can benefit significantly from our ‘Vehicle as a Power Supply’ remote power generation technology as our development progresses. We continue to seek strategic partners and investors.”
The Forum was supported by BP, Chevron, Shell, Cenovus, ConocoPhillips, Energy Ventures, Saudi Aramco, Statoil, Technip, Total, Andrews Kurth, Norton Rose Fulbright, Altira, Lime Rock Partners, Comerica, Leyendecker and Associates, Winstead, PKF Texas, and Insperity, with supporting organizations Greater Houston Partnership, and Opportunity Houston, Houston Technology Center, SURGE Accelerator, and media sponsors Houston Business Journal, BusinessMakers Radio Show and the EnergyMakers Show.
Inventev is also a Semifinalist in the national Cleantech Open accelerator competition that concludes later this year with events in Minneapolis and San Jose, CA.