DeltaClimeVT Energy 2021 climate economy business accelerator graduates cohort and announces Neothermal Energy Storage as the winner
Entrepreneurs from seven start-ups focused on reducing energy use and greenhouse gas emissions in residential, commercial and industrial buildings graduated from the DeltaClimeVT Energy 2021 climate economy business accelerator during a recent virtual awards ceremony. The Energy 2021 winner, selected through a peer-review process, was Neothermal Energy Storage, based in Nova Scotia, Canada. The company, which offers supplemental electric thermal storage (ETS) systems using salt hydrate to electrify residential boilers and furnaces, won a $25,000 cash prize and a pilot projected awarded by Burlington Electric Department (BED). BED also awarded a pilot project to Arc Industries, and Green Mountain Power (GMP) awarded a pilot project to Grid Fruit.
“We are honored that the award came from the peers,” said Jill Johnson, Neothermal Energy Storage co-founder, business development, on winning DeltaClimeVT Energy 2021. “Everybody has been so helpful and we are really grateful that we were able to take part in this group this year. I feel like we were all able to really move forward during the past few months.”
The DeltaClimeVT business accelerator, managed by Vermont Sustainable Jobs Fund (VSJF), aims to bring innovative technologies, services and business models to Vermont in an effort to reach Vermont’s climate and renewable energy goals more quickly while also ensuring the inclusion of low-to-moderate income residents in our energy transition.
“Through our DeltaClimeVT business accelerator, the 13 climate economy entrepreneurs improved their product market fit, fine-tuned their business models, developed a go-to market strategy and fast tracked their way to securing financial investments so they can grow their business opportunities in Vermont and beyond,” said Geoff Robertson, Managing Director of DeltaClimeVT at VSJF.
The goal for the Energy 2021 program was to reduce energy use and greenhouse gas emissions in residential and small commercial and industrial buildings, and enable increased adoption and better integration of distributed energy resources and smart building technologies. In November 2020, VSJF initiated a national recruitment process and in March seven start-up companies from all over the U.S. and Canada were selected to participate in the three-month intensive learning experience where the entrepreneurs completed an intensive curriculum, developed by ecosVC, which included online workshops, webinars and mentoring sessions. Due to the COVID-19 pandemic, VSJF offer the Energy 2020 cohort virtually and continued to offer this year’s program in a completely virtual format.
“It’s been a massive pleasure to work with these seven companies,” said Joseph Steig, cohort facilitator with ecosVC. “They’ve all equally engaged, all equally worked hard and really all equally have a tremendous opportunity to make money and make a difference for Vermont and addressing climate change generally through their energy technologies and services.”
DeltaClimeVT Energy 2021 Graduating Cohort Companies:
- Neothermal Energy Storage – Offers homeowners the first integrated, supplemental electric thermal storage (ETS) system for boilers and furnaces that reduces fossil fuel use by up to 90%, lowering GHG emissions and monthly energy bills. neothermal.ca (Nova Scotia) – First Place Winner and Awarded BED Pilot Project
- Arc Industries – Designs and manufactures vertical axis wind turbines with a new cutting-edge turbine design that addresses the many issues that have traditionally plagued small wind turbines. arcindustries.co (Massachusetts) – Awarded BED Pilot Project
- Grid Fruit – Provides software that reduces energy and maintenance costs for food businesses, using previously untapped data through AI software to bring energy efficiency and power grid incentives to refrigeration and HVAC. gridfruit.com (Pennsylvania) – Awarded GMP Pilot Project
- Andluca Technologies – Develops UV-solar-powered smart glass for improving the energy efficiency of buildings. Andluca’s patented technologies can reduce building energy use by up to 40% while significantly enhancing occupant comfort and productivity. andluca.com (New Jersey)
- Bloomcradle – Engages, connects, and mobilizes the public and leaders through accessible and educational storytelling to drive local community and large-scale action for a sustainable future. bloomcradle.com (Vermont)
- Flick Power – Helps consumers take advantage of time-based electric rates and reduce carbon emissions from dirtier energy sources that are used during peak energy times. flickpower.com (California)
- YellowTin – A cloud-based, data-driven platform that educates and empowers consumers to make informed decisions, so that they can switch to cost-effective, electricity-based solutions at their own pace. yellowtin.com (California)
“We’re very thankful to the Vermont Sustainable Jobs Fund for organizing this impressive program and encouraging us to apply because DeltaClimeVT has given us our entry point into the U.S. market,” said Louis Desgrosseilliers, Neothermal Energy Storage co-founder and CEO.
Partners and sponsors of DeltaClimeVT Energy 2021 include, Vermont Electric Power Company, Burlington Electric Department, Vermont Public Power Supply Authority, VGS, Green Mountain Power, VSECU, Vermont Electric Coop, Efficiency Vermont, Washington Electric Co-Op and the Flexible Capital Fund.
To learn more about DeltaClimeVT Energy 2021, visit deltaclimevt.com.
About DeltaClimeVT – A Climate Economy Business Accelerator
Managed by the Vermont Sustainable Jobs Fund (VSJF), the DeltaClimeVT business accelerator is a Vermont-based program serving startup and seed-stage ventures focusing on energy and climate economy innovation in the energy sector. The program provides an intense accelerated learning and business development process designed to test assumptions, expose and remediate business vulnerabilities, prepare for significant investment, and provide a platform for rapid scaling. As a proven leader in sustainability, Vermont offers participants access to a large number of entrepreneurial climate economy and energy experts throughout the program. For more details, visit deltaclimevt.com or contact Geoff Robertson at 802-828-3753.
About Vermont Sustainable Jobs Fund
In addition to offering the DeltaClimeVT business accelerator to startup and seed stage entrepreneurs, the Vermont Sustainable Jobs Fund (VSJF) provides business assistance, value chain facilitation, network development, and strategic planning to a wide range of stakeholders in the agriculture and food system, forest product, waste management, renewable energy, and environmental technology sectors. Located in Montpelier, Vermont, VSJF was created by the Vermont Legislature in 1995 to partner with state government, private sector businesses, and nonprofits to build a thriving economic, social, and ecological future for Vermont. www.vsjf.org