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.

Oak Ridge National Laboratory 2019 Technology Showcase

Each year ORNL competitively selects compelling technologies for a year of strategic development investment, and increased outreach to prospective industry partners. The prospective industry partners are invited to submit applications to commercialize the technologies, and companies with the most compelling commercialization plans are offered licenses. In addition, some of the successfully licensed technologies will be competitively selected for a second year of research and development to be performed at ORNL in partnership with the licensing companies.

RSVP Here!

The 2019 Technology Innovation Showcase will include presentations describing each technology and resent research results, followed by technology demonstrations and laboratory tours. ORNL Technology Transfer staff members will be available for 1:1 meetings to discuss licensing opportunities, and tours of prominent ORNL facilities and landmarks will be offered.

  • CellSight — Rapid, Native Single Cell Mass Spectrometry [summaryvideo]
  • Nanocapsular Radiation Track Etch Indicator [summaryvideo]
  • Rapid Regeneration of Recalcitrant Plant Species [summaryvideo]
  • BEST: Biomacromolecule Engineering by Soft Chain Coupling Technology [summaryvideo]
  • Genetic Improvement of Salt and Drought Tolerance in Crop Plants [summaryvideo]
  • Commercialization of AlCuMnZr (ACMZ) Alloys [summaryvideo]
  • Safe Impact Resistant Electrolytes (SAFIRE) [summaryvideo]
  • Novel Catalyst for Low Temperature Emissions Control [summary]

Innovation Crossroads Cohort Four Informational Webinar

Innovation Crossroads is an Oak Ridge National Laboratory program that matches aspiring energy entrepreneurs with experts and mentors in technology-related fields to take their world-changing ideas from R&D to the marketplace. The program is now welcoming applications for Cohort Four and encouraging interested individuals to sign up for informational webinars.

Seven entrepreneurs will be chosen for this cohort, where sponsors include DOE’s Advanced Manufacturing Office (AMO) and the Tennessee Valley Authority (TVA). Specific topics of interest identified by DOE’s AMO and TVA include technologies in Energy and Advanced Manufacturing and Shared Integrated Grid, respectively.

Applicants whose technology doesn’t fall under the aforementioned categories are still encouraged to apply. To learn more about the program’s benefits, application process and more, sign up for an informational webinar at one of the following times:

  • Wednesday, October 9th at 2:30 p.m. ET
  • Thursday, October 24th at 2:30 p.m. ET

Selected participants will receive a two-year fellowship, lab access and research funding, and business mentors, entrepreneurial training, and networking opportunities.

Ready to apply? Here is the application. Contact innvcrossrds@ornl.gov if you have any questions.

Innovation Crossroads Showcase

Join us for a showcase of Oak Ridge National Laboratory’s Innovation Crossroads Program!

RSVP HERE!

Innovation Crossroads matches aspiring energy entrepreneurs with experts and mentors in technology-related fields to take their world-changing ideas from R&D to the marketplace.

During this event, you’ll hear pitches from Innovation Crossroads’ latest cohort three startups!

The Tennessee Valley Authority (TVA) joined Innovation Crossroads in cohort three as a program sponsor enabling a record number of innovators focused on energy-related and grid topics.

The event will also feature a panel discussion with the Innovation Crossroads’ cohort one alumni as they give us updates on their businesses and what their experience was like in Innovation Crossroads.  

There will also be discussions on the resources available for energy startups, including the Tennessee Advanced Energy Business Council’s Energy Mentor Network!

 

Innovation Crossroads Cohort Four Informational Webinar

Innovation Crossroads is an Oak Ridge National Laboratory program that matches aspiring energy entrepreneurs with experts and mentors in technology-related fields to take their world-changing ideas from R&D to the marketplace. The program is now welcoming applications for Cohort Four and encouraging interested individuals to sign up for informational webinars.

Seven entrepreneurs will be chosen for this cohort, where sponsors include DOE’s Advanced Manufacturing Office (AMO) and the Tennessee Valley Authority (TVA). Specific topics of interest identified by DOE’s AMO and TVA include technologies in Energy and Advanced Manufacturing and Shared Integrated Grid, respectively.

Applicants whose technology doesn’t fall under the aforementioned categories are still encouraged to apply. To learn more about the program’s benefits, application process and more, sign up for an informational webinar at one of the following times:

  • Friday, September 20th at 2:30 p.m. ET

Selected participants will receive a two-year fellowship, lab access and research funding, and business mentors, entrepreneurial training, and networking opportunities.

Ready to apply? Here is the application. Contact innvcrossrds@ornl.gov if you have any questions.