Bioenergy, Geothermal, Wind Power

Initiative to Incubate Clean Energy Companies

An initiative has been launched by Austin Technology Incubator and the National Renewable Energy Laboratory to encourage clean energy companies.

AUSTIN, Texas, US, 2001-09-24 [] The incubator will focus its efforts towards solar, wind, biomass, geothermal and fuel cell companies, as well as firms involved in energy efficiency and energy distributive resources. The Clean Energy Incubator will build upon ATI’s experience in working with 100 high-tech startup companies that have generated 2,500 jobs and $1 billion in revenues since ATI’s inception in 1989. “One of the main challenges of the new venture will be to establish an extensive network of resources and service providers for clean energy companies, similar to the ATI network for high tech startups,” says program director Richard Amato. “The response we have received so far is tremendous. The community is excited about the opportunities and developments that the Clean Energy Incubator will provide.” Although the incubator is based in Austin, it will maintain a global perspective for ATI and its parent organization, the IC2 Institute of the University of Texas at Austin. The program will be funded through a state energy grant from the State Energy Conservation Office and federal funds from the U.S. Department of Energy. “From our perspective, ATI is clearly one of the marquee incubators in the country,” says Marty Murphy of NREL. “Texas is also an important state for clean energy technologies with the potential to grow. That is one of the main reasons that we pursued the Austin Technology Incubator first.”