MENLO PARK, Calif., Jan. 13, 2020 /PRNewswire/ -- EtaGen, the leading manufacturer of linear generators for distributed power generation, announced today that it has changed its name to Mainspring Energy as the company moves towards delivery of its new technology and market category.
Since its founding by three Stanford engineers in 2010, Mainspring Energy (formerly EtaGen) has developed a new category of power generation technology — the linear generator — that delivers onsite, 24/7, fuel-flexible power at lower cost and lower carbon than the electric grid. The company will begin customer installations this year, targeting the $750B global electricity equipment market.
"As we enter the fast-growing global energy industry, we're excited to have a new name that is distinctive and memorable, conveys resilience, and evokes the healthy environment and affordable access to electricity behind our mission," said Shannon Miller, Mainspring co-founder and chief executive officer. "Mainspring brings together the concepts that our product is local and primary in nature and a reliable, clean source."
Mainspring manufactures its linear generators to deliver onsite electric power to commercial and industrial buildings, campuses, smart cities and the utility grid. The product uses a low-temperature reaction of air and fuel to drive magnets through copper coils to produce electricity. Mainspring's elegant linear design achieves high efficiency and offers the most cost-effective solution for both firming renewable generation and ensuring 24/7 clean power.
About Mainspring Energy, Inc.
Mainspring Energy's mission is to advance global access to low-carbon, dispatchable energy by delivering a new category of power generation. The company has successfully built and tested three generations of its product since its founding in 2010. It is backed by top-tier venture and strategic investors including Khosla Ventures, Bill Gates, ClearSky Power and Technology Fund, American Electric Power, Centrica Innovations, and Equinor Energy Ventures. For more information, visit www.mainspringenergy.com.
SOURCE Mainspring Energy, Inc.