Electrochaea, a leading developer of power-to-gas energy storage technology, is pleased to announce that it was named in the prestigious 2014 Global Cleantech 100, produced by Cleantech Group.
The Global Cleantech 100 is a comprehensive list of private companies with the highest potential to make a significant contribution toward solving tomorrow’s clean technology challenges. The list is published by Cleantech Group, a market intelligence firm focused on clean technologies and renewable energy. In compiling the list, Cleantech Group combined research data with weighted qualitative judgments and specific inputs from a global 84-person expert panel.
To qualify for the list, companies must be independent and for-profit cleantech companies that are not listed on any major stock exchange. This year, a record number of nominations were received: 5,995 distinct companies from 60 countries. These companies were weighted and scored to create a short list of 327 companies. Short-listed nominees were reviewed by Cleantech Group’s expert panel, resulting in a finalized list of 100 companies from 17 countries.
We are excited and honored to be named among the top private cleantech companies in the world and view this achievement as a validation of our technology and the team behind its development, said Mich B. Hein, Electrochaea’s CEO.
The 84-member expert panel was drawn equally from leading financial investors and representatives of multi-national corporations and industrials active in technology and innovation scouting across Asia, Europe, and North America. The composition of the expert panel broadly represents the global cleantech community, from pioneers and leaders to veterans and new entrants. The diversity of panelists results in a list of companies that command an expansive base of respect and support from many important players within the global cleantech innovation ecosystem.
The Global Cleantech 100 represents the most inspiring array of entrepreneurs across the cleantech space that are at the forefront of innovation, said Sheeraz Haji, Cleantech Group’s CEO.
The complete list of 100 companies was revealed on October 6th at the Global Cleantech 100 Summit & Gala in Washington, D.C. and can be accessed at http://www.cleantech.com/indexes/global-cleantech-100/2014-global-cleantech-100/.
The list is accompanied by a full report with commentary and insight on the 2014 Global Cleantech 100. Download the report at:
And the complete list of Global Cleantech 100 expert panel members is available at http://www.cleantech.com/indexes/global-cleantech-100/2014-panelists/
About Power-to-Gas Energy Storage
Power-to-gas is an innovative and disruptive concept for grid-scale energy storage. The large and growing penetration of renewable energy such wind and solar, which produce electricity intermittently and independent of demand, causes large supply/demand imbalances and stabilization challenges in the electricity grid. Power-to-gas converts surplus electricity into methane, the principal component of natural gas, for injection into the existing gas infrastructure. Because the capacity of many natural gas networks is practically unlimited for the purpose of energy storage, the energy storage capacity of power-to-gas far surpasses that of batteries, pumped hydro, and compressed air energy storage. Once in the pipeline, the gas can be used for power production during peak-hours, as renewable gas in industry and transportation, and for long-distance energy transmission via existing pipelines.
Founded by Nidus Partners in conjunction with the University of Chicago, Electrochaea is developing a disruptive technology for grid-scale energy storage. The company’s biocatalytic power-to-gas technology converts low-cost and stranded electricity into pipeline-grade methane for direct injection into the existing natural gas network. Backed by a number of high-profile investors, Electrochaea is currently scaling its technology to commercial size through a series of technology development projects. The company has operations in Germany, Denmark, and the United States.
Dominic Hofstetter, VP of Business Development
About Cleantech Group
Founded in 2002, Cleantech Group’s mission is to accelerate sustainable innovation. Core to this mission is i3, an online platform that connects corporates with innovation, at scale, by allowing them to find, vet, and connect with start-ups—efficiently building an innovation pipeline. In conjunction with i3, Cleantech Group offers premium advisory services for corporates in need of expertise designing and executing strategies for sustainable innovation, and managing the pipeline created in i3. The i3 platform comes to life at the Cleantech Group’s global events, which convene corporates and start-ups, along with other players shaping the future of sustainable innovation. Cleantech Group is headquartered in San Francisco, and has offices in London and New York. For more information, visit www.cleantech.com