Remembering TAEBC’s 2019 accomplishments, what to expect in the new year

As the new year looms upon us and we welcome a new decade, the Tennessee Advanced Energy Business Council (TAEBC) is celebrating its 2019 achievements.

By championing advanced energy as an economic development and job creation strategy, TAEBC is positioning the state and its members to increase our leadership role in the $1.4 trillion global advanced energy market.

TAEBC wants to reinforce our commitment to our members and stakeholders:

  • Inform the national energy agenda.
  • Help Tennessee become the #1 location in the Southeast for high-quality jobs.
  • Foster the growth of Tennessee advanced energy technologies and startups.
  • Support TVA and our local power companies’ efforts to become the energy companies of the future.

We look forward to our annual membership meeting in Franklin, but until then let’s reflect on our top accomplishments from 2019.

  1. SkyNano and Active Energy Systems became the third and fourth graduates from the Energy Mentor Network. The companies were part of Oak Ridge National Laboratory’s Innovation Crossroads cohort one, where they are now recognized as honored alumni.
  2. TAEBC held its Annual Membership Meeting in Franklin, Tennessee at Schneider Electrics headquarters. TAEBC members, stakeholders and supporters heard from Schneider Electric’s Vice President of Utility & Microgrid Solutions Don Wingate, who touched on the new energy landscape emerging with more microgrid implementation happening across the United States. Attendees also heard from Chris Hansen, TVA’s Director of Pricing Strategy & Origination, who spotlighted the energy company’s efforts to meet renewable energy expectations of Google and Facebook for new data centers the companies were constructing in the Valley. Both global giants are known for their commitments to sustainability and clean energy.
  3. During the annual meeting, renowned Tennessee collaborator and partnerships builder Tom Ballard received the Thomas B. Ballard Advanced Energy Leadership Award named in his honor. The Thomas B. Ballard Advanced Energy Leadership Award honors exemplary leadership and success in championing, connecting, and strengthening Tennessee’s advanced energy economy. TAEBC announced the Thomas B. Ballard Advanced Energy Leadership Award will be an annual award, accepting nominations every year and presenting the winner with the honor at future annual meetings.
  4. TAEBC had a full calendar year filled with events that engaged both members and stakeholders alike including:
    1. TAEBC Executive Director & Vice President Cortney Piper, Michael Garrabrant with Stone Mountain Technologies and Launch Tennessee executives were at Tennessee’s Capitol Hill earlier this year for Innovation Week on the Hill, connecting entrepreneurs and innovators with legislators to discuss key challenges facing small businesses.
    2. The Tennessee Advanced Energy Business Council hosted a new “Ask Me Anything” event that gave attendees the opportunity to “ask anything” from some of the most well-known energy CEOs in the state, including Matt Kisber of Silicon Ranch Corporation. The “Ask Me Anything” session provided intimate, candid discussions between attendees and energy CEOS where attendees could “ask anything” related to business, strategy, work-life balance and everything in between.
    3. TAEBC held a Lunch & Learn with TVA board member Jeff Smith and new TVA CEO Jeff Lyash to discuss what they envisioned in the future for the energy company and giving members the opportunity to have an open dialogue with TVA leadership.
    4. The Energy Mentor Network’s mentors had an opportunity to meet the Innovation Crossroads recently inducted third cohort, where they heard pitches from the energy startups. The event also featured a panel discussion with the Innovation Crossroads’ cohort one alumni as they gave updates on their businesses and what their experience was like in Innovation Crossroads.
    5. Launch Tennessee, in partnership with Life Science Tennessee and the Tennessee Advanced Energy Business Council, invited our Energy Mentor Network mentors and companies to an evening of networking in appreciation for the mentors’ generous service to the Mentor Networks.
  5. TAEBC’s Utility Relations Committee met with TVPPA, TVIC, & AVI to present Tennessee’s advanced energy asset inventory.
  6. TAEBC Executive Director & Vice President Cortney Piper met with U.S. Senator Lamar Alexander’s office staff in Washington, DC to present a briefing on Tennessee’s robust advanced energy economy which employs more than 358,000 Tennesseans, contributes $39.7B to the state’s GDP, and includes more than 18,000 businesses.
  7. TAEBC Executive Director & Vice President Cortney Piper also met with the Tennessee Department of Economic and Community Development deputy commissioners and senior staff, new Tennessee Governor Bill Lee’s staff, various TVA leaders, and Tennessee Department of Environment and Conservation staff to educate them on Tennessee’s advanced energy economy and present an asset inventory briefing.
  8. Opportunities in Energy 2019, presented by Verizon, featured a presentation from Majid Khan, Managing Director of Strategy & Business Development from Verizon to talk about 5G and the future of energy in our region and the nation as a whole. A panel discussion moderated by Dr. Greg Peterson, Professor & Department Head at the University of Tennessee in the Department of Electrical Engineering and Computer Science, with Khan, Greg Thompson, Senior Manager of Smart Grid Services and Digital Engagements at Schneider Electric, as well as with Gary Brinkworth, Director of Enterprise Research and Technology Innovation at TVA focused primarily on the opportunities and challenges of how 5G can impact the energy landscape here in Tennessee.
  9. Welcome New Members: AVI, East Tennessee Economic Council, Giridhar Iyer, Johnson Energy Solutions, Piper Communications, Smart Trips, Stone Mountain Technologies, Verizon and XMI.
  10. TAEBC submitted comments to TVA in April regarding, at the time, its draft 2019 IRP. TVA’s Board of Directors approved the 2019 Final Integrated Resource Plan (IRP) later in the year. TVA updated its previous IRP to allow for a more dependable and flexible power-generation system that effectively leverages more renewable energy sources and distributed energy resources. According to the 2019 IRP’s Executive Summary, TVA found:
    • There is a need for new capacity in all scenarios to replace expiring or retiring capacity.
    • Solar expansion plays a substantial role in all futures.
    • Gas, storage and demand response additions provide reliability and/or flexibility.
    • No baseload resources (designed to operate around the clock) are added, highlighting the need for operational flexibility in the resource portfolio.
    • Additional coal retirements occur in certain futures.
    • Energy efficiency (EE) levels depend on market depth and cost-competitiveness.
    • Wind could play a role if it becomes cost-competitive.
    • In all cases, TVA will continue to provide for economic growth in the Tennessee Valley

As an added bonus two TAEBC board members, Steve Seifried and Mary Beth Hudson, wrote op-eds on Tennessee’s thriving advanced energy economy.

Happy Holidays from the Tennessee Advanced Energy Business Council!

Active Energy Systems Secures Funding as One of Three Initial Investments from New, Local Venture Capital Fund

Energy Mentor Network graduate, Active Energy Systems, was selected as one of three initial investments made by the TennesSeed Fund, a new, evergreen, seed-stage, proof of concept venture capital fund that seeks regional investments in Tennessee companies. 

The Fund is managed by a collaboration of Three Roots Capital, Meritus Capital, and Innova Memphis, Inc. Grady Vanderhoofven, the founder, president and chief executive officer of Three Roots Capital, and Ken Woody, the president, partner and founder of Innova Memphis, serve as the Fund’s co-managers, directors, and investment team members.

The Fund does not have a specific industry or technology focus, allowing it to help companies, like Active Energy, achieve specific, well-defined milestones. Woody said the evergreen structure “allows for the permanent, ongoing cycle of fundraising, investments, and successful investment outcomes, which hopefully will have direct and lasting economic benefits throughout the state.”

“Our relationship with the TennesSeed Fund has been great timing for us,” said Active Energy Co-Founder Mitchell Ishmael. “They provided the right advice at the right time and funds just when we needed them to secure our intellectual property claims. This investment and relationship has been immensely valuable for us.”

In addition to the Fund’s investment, Active Energy has received funding from the Department of Energy and National Science Foundation SBIR program matched by LaunchTN. Combined, these investments amount to over $500,000.

In addition to funding momentum, Active Energy recently graduated the Energy Mentor Network, run by TAEBC in partnership with Launch Tennessee. To graduate, participating startups must build investable pitch decks, finance models, and structured business plans and defend those plans before panels of established entrepreneurs and venture capitalists.

Active Energy also completed its two-year fellowship with Oak Ridge National Laboratory’s Innovation Crossroads program in May. Speaking with Teknovation.biz earlier this year, Ishmael said “the Innovation Crossroads team helped us make the necessary industry and investor connections to complete our pivot.”

Currently, the company is building a larger cooling system for a 6,000 square foot facility and constructing a “show and tell” system for onsite demonstrations. 

Visit Active Energy Systems’ website to learn more about this innovative startup. If you are interested in becoming a mentor for startups like Active Energy Systems in the Energy Mentor Network, follow this link.

Tennessee startups Active Energy and SkyNano graduate from Energy Mentor Network

Two Tennessee energy startups – SkyNano Technologies and Active Energy Systems – are graduating from the Energy Mentor Network, a rigorous mentorship program that cultivates energy entrepreneurship across the state.

Run by the Tennessee Advanced Energy Business Council (TAEBC) in partnership with Launch Tennessee, the Energy Mentor Network equips promising young companies with the tools and connections to raise capital and scale their businesses to market success. Active Energy and SkyNano were paired with expert entrepreneurs to guide the companies through the multi-tiered program of panel presentations and mentorship sessions. To reach graduation, the startups built investable pitch decks, finance models, and structured business plans and defended those plans before panels of established entrepreneurs and venture capitalists.

Active Energy Systems was founded by Mitchell Ishmael and Levon Atoyan in 2017. The cofounders invented the world’s first “icephobic coating,” which creates a surface impervious to freezing water. The patent-pending coating is the technology behind Active Energy’s revolutionary air conditioning system that greatly improves cooling performance by eliminating ice build-up. The ultra-efficient, low-cost thermal energy storage system is environmentally superior to standard cooling systems and enables electricity to be accessed overnight for later use when cost is less expensive.

SkyNano Technologies was cofounded by Anna Douglas in 2017. She and co-founder Cary Pint developed a novel technique that makes the production of highly sought-after carbon nanotubes much more efficient, affordable, and scalable. SkyNano’s patent-pending technology relies on electrochemistry, rather than solely chemical catalysis as is currently used, and more efficiently converts atmospheric carbon dioxide into functional nanomaterials. The new manufacturing technique produces low-cost, high-value nanotubes, solving cost and scalability limitations associated with existing carbon nanotube manufacturing techniques while also enabling commercial viability to carbon conversion technologies through high-value secondary material.

During their time in the Energy Mentor Network, Active Energy and SkyNano made significant gains in financing and market-readiness.

SkyNano secured close to $1,000,000 in funding grants and fellowships from the Department of Energy and National Science Foundation SBIR program matched by LaunchTN. Anna was named a 2019 Forbes Magazine “30 Under 30” Disrupter in Energy. The company is expanding its work force and this fall, SkyNano plans to scale its patent-pending technology and deliver product samples to early customers.

Active Energy secured more than $500,000 in funding grants and fellowships from the Department of Energy, TennesSeed Fund, and National Science Foundation SBIR program matched by LaunchTN. The company was also named a finalist in the 2018 76West Clean Energy Competition. Active Energy is currently building a much larger cooling system for a 6,000 sq ft facility and constructing a “show and tell” system for onsite demonstrations.

Both graduating energy startups were members of the inaugural cohort of Oak Ridge National Laboratory’s (ORNL) Innovation Crossroads program, a two-year fellowship that supports energy entrepreneurs take their inventions from R&D to commercialization. Innovation Crossroads is a business mentor partner of the Energy Mentor Network. SkyNano and Active Energy are the third and fourth startups to graduate from the Energy Mentor Network.

Innovation Crossroads cohort one is winding down. Here are updates on their progress.

As Oak Ridge National Laboratory finalizes selections for the third cohort in its “Innovation Crossroads” program that accelerates new energy start-ups, Teknovation.biz wanted to provide an update on the three members of the inaugural cohort. They arrived here in May 2017 and will complete their two-year Fellowships soon. Here are updates from SkyNano’s Anna Douglas:

  • When you were selected for the inaugural cohort of ORNL’s “Innovation Crossroads” program, how would you describe the state of your technology and where you were in standing-up a start-up?At the time we were selected, we had just filed the legal framework for setting-up a start-up and were still working through a lot of the market analysis. We had demonstrated initial proof of concept at Vanderbilt for the use of the technology to produce carbon nanotubes ~ 23 nm in diameter.

 

  • Now, more than three-fourths of the way through the two-year experience, how would you answer the question?We learned a LOT through customer discovery during the first six months of the program, which led to a pivot from our initial technical focus, and are now fully committed to scaling the technology in the next 12 months and getting samples out into the marketplace. At this point, we have doubled our team with the addition of two full-time team members who have been instrumental in the technical progress we’ve made towards scaling our electrochemical growth process.

Read more at Teknovation.biz. Here are updates from Active Energy Systems and Yellowstone Energy.

Cleantech startup Active Energy Systems maps path toward market

(Originally published on Venture Nashville Connections)

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MITCH ISHMAEL PhD and his colleagues at Active Energy Systemsare working to solve one of the world’s biggest energy problems in a lab space so small that one can nearly touch its opposite walls with both hands.

During an interview for this story, Co-Founder Ishmael and a visiting journalist squeezed between a desk bearing the company’s first and second prototypes and a window overlooking the parking lot of Knox County’s Fairview Technology Center (FTC).

“I think it used to be the principal’s office,” when the building served as a schoolhouse, said Ishmael.

The FTC incubator that provides office and lab space for Active Energy sits just outside Knoxville city limits and about 10 miles from Oak Ridge National Laboratory (ORNL).

The incubator also supports seven other startups led by entrepreneurs fresh from doctoral and post-doctoral studies as they pursue commercialization of Clean Energy technologies with assistance from the two-year-old Innovation Crossroads(IC) program.

IC is a public-private partnership created and managed by ORNL, with backing from units of the U.S. Department of Energy. Federal funding for ORNL’s IC program has thus far totaled nearly $7MM.

The IC will begin taking applications for its 2019 Clean Energy cohort in September.

A rundown on all participating startups and related comments from program lead Tom Rogers are in our accompanying story, here.

Read more here.