Chicago’s HEVT Wins National Grand Prize at the 2012 Cleantech Open
Clean Edge News
Chicago-based electric motor company HEVT prevailed as the National Grand Prize winner at the 2012 Cleantech Open Global Forum, marking the second year in a row a startup from the North Central region of the business accelerator program has been named top cleantech entrepreneur.
HEVT’s disruptive electric motor technologies leverage smart software with optimally designed hardware to create electric motors that provide a rare combination of performance, efficiency, reliability and affordability, while reducing supply volatility due to the motors’ elegant design, simplicity of active materials and the absence of rare earth metals.
“Our technology is a key building block for renewable energy, energy efficiency and sustainable mobility technologies, and we solve critical global environmental and supply chain problems surrounding the mining and refining of rare earth metals,” said Heidi Lubin, CEO and co-founder of HEVT. “The validation we have received as part of the Cleantech Open accelerates our growth and helps us meet growing customer demand in a challenging macroeconomic environment.”
HEVT’s technologies are scalable from 150 watts to one megawatt and beyond—or from air conditioners to oil and gas pumps to hydroelectric generators (learn more). HEVT beat out 24 other finalists from the 356 companies participating nationally in six market categories, and will receive the equivalent of $250,000 in cash and services from the Cleantech Open in addition to the ongoing support and mentoring that all alumni companies receive from the nonprofit accelerator program.
Minnesota-based Atmosphere Recovery won the Grand Prize last year, and SiNode—another Chicago company—received the Energy Efficiency Category Award this year for its silicon-based anode technology, which dramatically increases the energy capacity of lithium-ion batteries and reduces charging time. Midwestern startups now have received two of the six Category Awards in each of the last two years.