Active Energy Systems receives an SBIR Phase II Award, while Nth Cycle secures $3.2 million in seed funding
The Energy Mentor Network is run by the Tennessee Advanced Energy Business Council in partnership with Launch Tennessee. Its goal is to foster the growth of Tennessee advanced energy technologies and startups by connecting entrepreneurs with mentors and industry specific expertise. Two of our graduates have recently secured funding to advance their technologies.
Active Energy Systems received an NSF SBIR Phase II Award
Active Energy Systems graduated from the Energy Mentor Network in 2019. The startup invented the world’s first “icephobic coating,” which creates a surface impervious to freezing water. It recently received an NSF SBIR Phase II Award to unleash the potential of water as a thermal energy storage medium for building air conditioning.
This funding will allow Active Energy Systems to create Icephobic Heat Exchange (IHEX) technology eliminating the adhesion of freezing water to cold surfaces, preventing ice buildup on the coil and realizing the power of water for low-cost, high efficiency, resilient building cooling.
Nth Cycle secured $3.2 million in seed funding
Nth Cycle graduated from the Energy Mentor Network in 2020. The startup is developing a system to cost effectively recycle lithium-ion batteries to recover the high-value metals. It secured $3.2 million in seed funding to scale its technology for battery recycling for sustainable mining. This funding will allow Nth Cycle to execute their technology roadmap and deploy several pilot projects with recyclers and mine operators early next year.
Nth Cycle was also featured in Waste360 where CEO Megan O’Connor stated, “We can process in a cost- and environmentally effective way compared to standard, existing methods. We can reduce operating costs by 75 percent and also reduce greenhouse gas emissions by 75 percent [determined using a Department of Energy battery recycling model].”
Learn more about the Energy Mentor Network, its companies, and mentors here.