Aestus Power (Aestus), a startup currently developing a proprietary thermal cooling system for energy production, has been accepted into the Cleantech Open business accelerator program. The energy efficient company is a semifinalist in the 2013 accelerator class, the largest entrepreneur training program of its kind.
The Cleantech Open has awarded over $6M to support clean tech companies and initiatives since its 2006 inception. Its mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental and economic challenges.
Through the Open, Aestus will be provided mentoring, networking opportunities, access to capital sources and the opportunity to compete for top prizes. The company will have a chance to pitch for a regional prize worth $20,000 and an opportunity to compete for the national prize of $200,000.
“We’re excited about our selection into the elite Cleantech Open Accelerator network and program, and we look forward to being able to present our technology and vision for energy efficiency to the world with the access that the Accelerator will afford,” said CEO and founder, Mark Graffagnini. “This opportunity comes at an exciting time for us as our potential buyers and end-users continue to evaluate the technology, and it further validates the success we have recently achieved with support from the University of New Orleans and New Orleans BioInnovation Center.”
The Aestus system will produce cooling for air conditioning, refrigeration and chilled water for a range of institutions such as hospitals, residences, office buildings, chemical or industrial plants and commercial facilities. The company is currently commercializing an absorption chiller that recycles wasted heat and turns it into cool air.
For more information, visit graffagninilaw.com.