WASHINGTON--(BUSINESS WIRE)--The Cleantech Open Southeast today announced that regional finalist, NG1 Technologies of Olive Branch, Mississippi has been recognized as the 2014 Cleantech Open National Accelerator Grand Prize Winner. NG1 Technologies will receive a cash and in-kind services prize worth $200,000. The final selection was made during the Cleantech Open Global Forum held in San Francisco on November 12-13. In addition to NG1 Technologies, another southeast regional finalist, BitGrid, was nominated as a Top 5 Finalist and held second place in the National Accelerator Program.
NG1 Technologies was recognized for its innovation and improvements to the retrofit exhaust system found on Class 8 tractor-trailers. The developments have resulted in double-digit fuel savings, advancing torque and reducing emissions for diesel engines. The NG1 TechFlo Exhaust is also the fastest way to decrease PM emissions of aftermarket trucks and diesel engines without having to change supply chain.
“The win for NG1 Technologies is really a win for the southeast region as well as the national organization,” said Joshua C. Greene, co-founder and executive director, Cleantech Open Southeast region. “Since the inception of our region over three years ago, we have seen significant interest from the investment community in our entrepreneurs, ventures and technologies. I am proud of NG1 Technologies and all of this year’s teams for their remarkable contributions to the 2014 Accelerator program.”
“Participating in the Cleantech Open Southeast has accelerated our business by enabling us to make new connections with potential investors and exchange ideas with other entrepreneurs,” said Cynthia O’Donnell, chief executive officer, NG1 Technologies. “Many of the ideas, technologies, and projects in the Cleantech Open community can work synergistically together to solve climate challenges. The contacts and notoriety truly provide a unique opportunity for our Mississippi-based startup.”
Since its inaugural year in 2012, the Cleantech Open Southeast has claimed four national category winners and one national sustainability winner, in addition to this year’s grand prizewinner. This year, in addition to NG1 Technologies, two other finalists were selected from the Southeast Regional Accelerator program, Atlanta-based, DPG Energy and Washington, D.C.-based BitGrid, Inc. These regional finalist teams received a “Startup in a Box” package that included cash and in-kind services worth up to $20,000 and the opportunity to compete at the Global Forum.
ABOUT NG1 TECHNOLOGIES
NG1 Technologies of Olive Branch, Mississippi has discovered how to increase flow rates of gases or fluids moving through a tube. When adapted as a retrofit exhaust system for large trucks and diesel engines, it is one of the top fuel-saving devices on the market today, delivering double-digit fuel savings while also improving torque and reducing emissions. For more information, visit www.ng1tech.com/ or follow us on Twitter and Facebook.
ABOUT THE CLEANTECH OPEN
The Cleantech Open runs the world’s largest cleantech accelerator. Its mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships that turn clever ideas into successful global cleantech companies. Since 2006, through its one-of-a-kind annual accelerator and mentorship program, over 1,000 participating companies in the United States alone have raised a total of more than $1.1BN and created thousands of jobs. For more information, visit www.cleantechopen.org, or follow us on @cleantechopen and Facebook.
THANK YOU TO OUR SPONSORS
The Cleantech Open is made possible by the generous support of our sponsors and partners, including Global Partner, Chevron; National Premier Sponsor, Wells Fargo; National Education Partner, University of Phoenix; National Category Sponsor, Arrow; and National Sponsors, Clean Tech Advocates and Palo Alto Research Center (PARC); and many others. In addition, Cleantech Open Southeast is sponsored by Audi, WGL, Constellation, Deloitte, Oak Ridge National Lab, Bingham McCutchen LLP, and Squire Patton Boggs LLP.
