MEDIA ALERT: Israeli Clean Technology Companies Coming to Hanover County
MEDIA ALERT
Israeli Clean Technology Companies Coming to Hanover County
Wednesday, March 30, 2011
8:00am to 12:30pm
Invitation To All Press To Attend Investor/Technical Presentations
Dominion Resources GreenTech Incubator
319 Business Lane, Suite 1000
Ashland, VA 23005
#####
Ashland, Virginia – The Dominion Resources GreenTech Incubator (DRGI) Commercialization Program will host six Israeli companies as part of the Clean Tech Gateway USA Program on March 30, 2011 at their facility in Ashland, Virginia. This is a follow-up to the initial interviews which took place with over 30 Israeli companies by the Dominion Resources GreenTech Commercialization team in Tel Aviv, Israel from January 9-13, 2011. The Israeli companies will be in the Richmond area for three days, from March 29-31, 2011 and will have a series of meetings with Dominion Resources technical and business experts, as well as a number of additional meetings that the DRGI is arranging for each company. The Wednesday morning presentations are open to all potential investors, technical experts, local and state officials and others who may be able to assist the Israeli companies with U.S. market entry.
The Virginia Israel Advisory Board (VIAB), an Office of the Governor, together with DRGI and the Greater Richmond Partnership, has created a special program that will help post-incubator Israeli companies enter the U.S. market. Clean Tech is a rapidly growing market that requires innovation, speed to market, expert guidance from professionals in the market and the ability to scale up operations. DRGI has developed a program patterned after the successful Virginia Israeli BioScience Commercialization Center at the Virginia BioTechnology Research Park, which has grown into a fully integrated business development center that includes a fund of $11 million. Virginia Life Science Investments is currently working with and/or invested in twelve Israeli companies.
As part of the program, the VIAB is partnering with strategic assets in Virginia that can serve as a base for Israeli GreenTech company market entry into the U.S.. The core strategic partner is Dominion Resources, a $15.1 billion leading U.S. utility. The Dominion Resources GreenTech Commercialization Center is dedicated to working with commercialization or near-commercialization ready companies to enter the U.S. market. The path of entry will take companies that already have a proof of concept, through a recognized validation stage including the possibility for beta testing on Dominion Resources “power grid” under real market conditions. The Israeli companies will also receive expert advice in finance, technical matters, and management, all of which will lead to go-to-market strategies that are developed in cooperation with the Center’s partners such as Dominion Resources.
Presenting Companies:
CQM: In power generation, large surface condensers are used to help manage steam pressure through generating turbines that employ water vapor for power generation. Historically, these condensers become fouled over time and become less efficient in serving power generation by reducing power output by up to 5%. The CQM ATCS solves this problem by mechanically (actively) ensuring the condensers stay optimally clean perpetually.
Emefcy: Emefcy’s (EBR) technology revolutionizes the economics of wastewater treatment by generating instead of consuming energy, utilizing electrogenic bacteria to produce electricity from wastewater while cleaning the water. Conventional wastewater treatment uses 2% of the global power (80,000 MW and 57,000,000 ton per year of CO2), amounting to $40B/year. Rather than using energy to treat wastewater, Emefcy harvests renewable energy directly from the wastewater and feeds it to the grid.
ETV Energy Ltd : ETV Energy Ltd is developing a disruptive high-performance battery technology based on Lithium-Nickel-Manganese Spinel (NMS) electrochemistry, on the company’s core know-how and on patents covering multiple cell dimensions. Key advantages: The company’s High5ive™ cells have twice the energy relative to batteries of comparable size and weight; for comparable energy, ETV battery packs are smaller and lighter; achieve rapid energy discharge rate; and production costs are lower owing to simplified battery management and cooling system.
Greenlet: Electric utilities spend billions of dollars for reducing power in peak days. Greenlet’s installation-free system allows utilities & ESCO’s to connect to millions of customers and loads in a short time, reliably control & monitor power in peak times, without any need for professional installation (self-deployment). Customers quickly connect our units and get rebates for peak shaving. A leading US utility who tested Greenlet wrote: “I like the fact that the installation is easy. It’s by far the easiest I’ve seen so far among all Home-Area-Network vendors“.
Panoramic Power: Panoramic Power’s technology represents a new energy monitoring platform. The sales and service partner ecosystem includes architecture, electrical engineering and sustainability consulting firms; electrical and IT system integrators; Energy Service Companies (ESCOs), and demand response aggregators. Utility promotion of our systems provides financial incentives to customers. We are currently developing business relationships with potential partners. Future plans include development of software applications for various market segments, sensor family expansion and cost reduction, integration of sensor technology into infrastructure components, and OEM solutions for electrical equipment manufacturers.
Powercom Ltd : Powercom is a “Smart Metering/Smart Grid” company. The company offers (AMI)
Advanced Meter Infrastructure for Electricity, Water, and Gas. PowerCom develops and produces “Smart meters”, Concentrators and powerful web server software to support its customers. The system’s intellectual property is based on a Dynamic PLC (Power Line Carrier) technology. Over the last two years, PowerCom has been successful in implementing the world’s first most advanced, reliable and secured PLC communication. The breakthrough is achieved by developing Dynamic PL communication algorithms (based on software and hardware) which allows data transmission at any grid line infrastructure. PowerCom solution is based on real time monitoring of the power line behavior and adopting its data transmission to the existing conditions.
####
About DRGI: Modeled after the Virginia Bioscience Development Center’s successful biosciences incubation program, DRGI will provide its member companies an affordable facility on the I-95 corridor, assistance with strategy and business planning, access to expertise within Dominion Resources, expert advice from business advisory boards, access to discounted professional services and introductions to sources of grant and investment capital. As the companies grow, they are expected to move to nearby locations in Hanover County, boosting the local economy. The founding partners of DRGI include: Dominion Resources, Hanover County, The Town of Ashland, The Virginia BioTechnology Research Park, and the Virginia Biosciences Development Center.
About Dominion Resources: Dominion is one of the nation’s largest producers and transporters of energy, with a portfolio of approximately 27,600 megawatts of generation, 11,000 miles of natural gas transmission, gathering and storage pipeline and 6,100 miles of electric transmission lines. Dominion operates the nation’s largest natural gas storage system with 947 billion cubic feet of storage capacity and serves retail energy customers in 14 states. For more information about Dominion, visit the company’s website at www.dom.com
About Hanover County/Ashland, VA: Hanover County is a dynamic community within the Greater Richmond, VA region located 90 minutes south of the nation’s capital in Washington, DC. Hanover’s central, mid-Atlantic location offers seasonable climates and one-day access to more than half of the U.S. population base. A business-friendly county with competitive tax rates, Hanover also has a strategic transportation infrastructure that includes I-95 and I-295, and convenient access to I-64. The Town of Ashland, located in central Hanover County, is a community of seven square miles and 6,000 plus residents that enjoy prosperity fueled by Randolph Macon College, a growing private sector and a strong, regional economy. Ashland is a town born of the railroad and is proud of its history. Safe streets, an efficient police department and a diverse array of retail and tourist activities add quality amenities for both the residents and businesses.
About the Virginia BioTechnology Research Park: The Virginia BioTechnology Research Park is currently home to a unique mix of over 60 public and private bioscience companies, research institutes affiliated with the VCU Medical Center, and major state and national medical laboratories. These companies are housed in nine buildings totaling more than 1.1 million square feet of space, representing an employee base that exceeds 2,000. The Park’s nationally recognized biosciences business incubation program, the Virginia Biosciences Development Center (VBDC), has successfully graduated more than 40 client companies, including three publicly traded firms. VBDC’s client companies and graduates have attracted more than $400 million in equity, grant and strategic capital. The Park’s Virginia Biosciences Commercialization Center has been created to assist international life sciences companies locating at the Park with commercialization activities through M&A or IPO, giving these Park’s tenants full-scale business assistance as they enter the US market. The Commercialization Center is working with 12 bioscience companies with technologies ranging from medical devices to diagnostics and therapeutics. www.vabiotech.com
About Virginia Israel Advisory Board: The Virginia Israel Advisory Board (VIAB) is part of the Office of the Governor and is dedicated to assisting Israeli companies to expand in US. The VIAB serves as the “glue” that brings together all of the elements of the “Clean Tech Gateway USA” program that will promote expansion of Israeli Alternative Energy companies into the US through this Virginia-Israel program.
Contact:
Courtney L. Skunda
Marketing and Communications Manager
Virginia BioTechnology Research Park
Phone: (804) 827-2137
Email: cskunda@vabiotech.com
