Local start-up Yellowstone Energy secures nearly $2.6 million DOE grant

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(Originally published on Teknovation.biz)

One of the inaugural start-ups in Oak Ridge National Laboratory’s (ORNL) “Innovation Crossroads” program just had a big win.

Yellowstone Energy, spotlighted in this recent teknovation.biz article, was one of 10 recipients sharing up to $24 million in funding from the U.S. Department of Energy (DOE) that was announced this week. In Yellowstone’s case, it will receive almost $2.6 million from DOE’s Advanced Research Projects Agency-Energy (ARPA-E) program to further advance its nuclear reactor technology.

Yellowstone was co-founded by Matt Ellis and Sam Shaner who met as doctoral classmates at the Massachusetts Institute of Technology, better known as MIT. Their goal is to develop an advanced nuclear reactor with the potential for faster and lower-cost deployment, at the same time, optimizing safety in order to provide a clean source of baseload electricity.

”We are excited to be chosen for an award under the ARPA-E MEITNER program,” the Co-Founders told us. “This ARPA-E award will allow us to focus on a key enabling component that has the potential to make advanced nuclear reactor designs safer and more efficient.”

Read the full story here.

Charter Member ORNL Represents TAEBC at ARPA-E Summit

TAEBC member Dan Miller, Manager of Industrial Partnerships and Economic Development at ORNL, just returned from a successful visit to the Advanced Research Projects Agency-Energy (ARPA-E) Summit in DC early this week.

ARPA-E

ORNL’s Mike Paulus networks with Chris Faranetta of HyerV Technologies Corp at the TAEBC/ORNL table during the State & International Networking Event at the ARPA-E Summit.

Miller and ORNL represented TAEBC in the State & International Networking Event portion of the Summit, which provided a forum for state-based, regional and international agencies to connect and showcase progress in advancing technologies into future clean energy solutions.

Dr. Mike Paulus, ORNL Director of Technology Transfer, joined Miller at the TAEBC/ORNL table. The team reported that the reception provided an excellent opportunity to showcase TAEBC and ORNL’s joint efforts in strengthening the state’s advanced energy economy.

Other organizations at the event included: California Energy Commission (CEC); Clean Energy Trust; Energy Excelerator; KIC InnoEnergy, European Union; Massachusetts Clean Energy Center; New Energy and Industrial Technology Development Organization, Japan; North Carolina Board of Science, Technology and Innovation; Oregon BEST; and Rev1 Ventures for Columbus.

An annual energy innovation summit hosted by the US Department of Energy, ARPA-E offers a look at America’s future energy technologies, highlighting cutting-edge technologies across all energy sectors. ARPA-E is designed to bring expert entrepreneurs and researchers together for collaboration, sharing tangible innovations and inspiring investment opportunities.

Featured speakers during this year’s summit included:  Dr. Ernest Moniz, Secretary of Energy, US Department of Energy; Gina McCarthy, Administrator, US Environmental Protection Agency; Former Vice President Al Gore; US Senators Lisa Murkowski, Chris Coons; US Representative Bill Foster; and Dr. Sophie Vandebroek, Chief Technology Officer with Xerox.

ARPA-E 2

Knoxville’s Local Motors car on display in the Technology Showcase portion of the ARPA-E Summit.

Tennessee-based technologies on display during the conference included Knoxville’s Local Motors, with a car featured in the Technology Showcase.

For more information about ARPA-E, arpa-e.energy.gov.