SustainX Named a 2010 Global Cleantech 100 Company
WEST LEBANON, N.H., Oct. 13 /PRNewswire/ -- SustainX, Inc., a New Hampshire-based company developing a transformational technology for utility-scale energy storage using compressed air, today announced that it has been named to the 2010 Global Cleantech 100, a program produced by the Cleantech Group.
The Global Cleantech 100 highlights those private clean-technology companies around the world that are the likely, in the eyes of the world's cleantech experts, to have the most significant market impact over the next 5–10 years. To qualify, cleantech companies must be independent, for-profit, and not listed on any major stock exchange.
Nominees for the list included 3,138 companies from 50 countries. Of these, 218 were presented to an expert panel that selected a final 100 companies from 14 countries.
The 60-strong panel was drawn from well-respected organizations in cleantech innovation around the world, including leading investors such as Emerald Technology Ventures, Generation Investment Management, Kleiner Perkins Caulfield & Byers, New Enterprise Associates, SAM Private Equity, Sequoia Capital, and VantagePoint Venture Partners, as well as from corporations from a wide array of industries, including BASF, GE, Honeywell, IBM, Procter & Gamble, Siemens, and Veolia.
"The second Global Cleantech 100 shines a spotlight on which companies and which technology areas the global innovation community is currently most excited about, from a commercial standpoint," said Richard Youngman, Managing Director, Europe and VP, Global Research at Cleantech Group. "The Global Cleantech 100 list represents the most rigorous, serious attempt made yet to provide a scorecard of the progress that is being made by cleantech companies," Stephan Dolezalek, CleanTech Group Leader at VantagePoint Venture Partners remarked.
"SustainX is honored to be included in the Global Cleantech 100 list," said Tom Zarrella, SustainX CEO. "Our storage technology is not only clean in and of itself, but supports greater deployment of renewable energy sources and a more efficient grid, so we see this as a perfect fit."
The complete list of 100 companies is being unveiled today at Cleantech Forum New York, (http://events.cleantech.com/newyork/). The full list of Global Cleantech 100 firms is available on the Cleantech Group (http://cleantech.com/GlobalCleantech100.cfm) and Guardian websites (http://www.guardian.co.uk/globalcleantech100).
SustainX was spun out of the Thayer School of Engineering at Dartmouth College in 2007 and has received funding from the National Science Foundation Small Business Innovation Research (SBIR) Program, the Energy Storage Program at the U.S. Department of Energy, and equity investments from top-tier venture investors Polaris Venture Partners and Rockport Capital.
The company's transformative energy-storage technology, which it terms ICAES™ (Isothermal Compressed-Air Energy Storage), uses electrical energy to compress air near-isothermally (i.e., at approximately constant temperature), stores it aboveground in commercial gas storage containers, and expands it near-isothermally to generate electricity. No fuel is involved. The company's competitive advantage stems from its proprietary thermodynamic innovations, a design centered on mature industrial components, and reliance on an ambient-temperature, nontoxic working fluids.
SustainX ICAES targets the emerging market for bulk (grid-scale) energy storage being created by the growth in renewable generation and aims to disrupt costly "peaker" plants that burn natural gas or other polluting fuels.
About the Cleantech Group, LLC
Cleantech Group, the leading global research and advisory firm focused on cleantech innovation, pioneered the clean technology category in 2002. Today, it helps its clients make critical business decisions by providing the latest market intelligence through subscription-based research, custom advisory services, and global networking events. The company's growing international client base includes global corporations, investors, entrepreneurs, governments, and service providers. The company also produces the premier Cleantech Forum® and Focus™ events worldwide, including upcoming events in Paris, New York, Chicago, and Los Angeles. Details are available at http://www.cleantech.com
About the Guardian
The Guardian is one of the UK's leading daily titles, and the Guardian.co.uk website delivers its liberal journalism to a global audience. The Guardian's vision is to be the leader on sustainability within the media industry. Through its editorial coverage and business activities, the Guardian demonstrates to its readers, staff, advertisers, suppliers and its communities that Guardian News & Media is committed to enhancing society's ability to build a sustainable future.
We are pleased to announce that our corporate partner Autodesk, Inc., a leader in 3D design, engineering and entertainment software, is the sponsor of the Global Cleantech 100. Customers across the manufacturing, architecture, building, construction, and media and entertainment industries – including the last 15 Academy Award winners for Best Visual Effects – use Autodesk software to design, visualize and simulate their ideas. Since its introduction of AutoCAD software in 1982, Autodesk continues to develop the broadest portfolio of state-of-the-art software for global markets. Through the Autodesk Clean Tech Partner Program, early-stage clean technology companies can apply to receive up to $150,000* worth of software for only $50. To learn more about the Autodesk Clean Tech Partner Program, please visit http://autodesk.com/cleantech.
SOURCE SustainX, Inc.