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SkyNano Technologies, an Innovation Crossroads Cohort One company and Energy Mentor Network startup, took home third place after competing in the Megawatt Ventures competition.

Anna Douglas, Founder of SkyNano Technologies, received a $10,000 check for her efforts.

SkyNano Technologies has developed an open system manufacturing technique to produce low cost, high value carbon nanotubes, a material with potential applications in a variety of areas from energy storage to consumer electronics.

Compared to traditional manufacturing processes that require high vacuum and high pressure gas flow systems, SkyNano’s patent-pending technology relies on the electrochemical conversion of carbon dioxide, resulting in a process that is lower in cost and scalable for commercial applications. Aside from lowering the cost of carbon nanotubes, SkyNano’s technique offers a promising method for converting atmospheric carbon dioxide into useful functional nanomaterials.

Several promising cleantech companies from throughout the United States participated in MegaWatt Ventures—an annual clean technology business plan competition sponsored by the U.S. Department of Energy (DOE) Cleantech University Prize (Cleantech UP).

Each team had the opportunity to give a 10 minute pitch followed by judges questions.  Judges consisted of seasoned investors, industry veterans, and technical experts representing an array of clean technology backgrounds and experience.

 The competition supports companies working on intellectual property-protected products, processes or technologies represented from the ten program offices of the DOE’s Office of Energy Efficiency and Renewable Energy (EERE).

Many of the winning teams are spin-outs from university research labs and every competing team must be composed primarily of current university students.