Maui’s Gen-X Receives US Renewable Energy Program FundingMarch 6, 2013, 9:12 AM HST (Updated March 6, 2013, 3:38 PM) · 0 Comments
By Sonia Isotov
Gen-X Energy Development LLC (Gen-X), a Maui-based renewable energy technology company, was awarded over $50,000 dollars in funding as a result of their presentations and efforts at the Pacific International Center for High Technology Research’s Lightning Excelerator program.
Gen-X was granted one of the largest awards from the US Department of Energy sponsored-program.
“In addition to the $1.7 million dollar raised [previously], this additional funding allows us to fund important ongoing activities towards commercialization of SkyGrid,” said Fred Brown, the chief operating officer and co-founder of Gen-X.
SkyGrid is a commercial scale off-grid renewable energy technology developed by Gen-X. Gen-X management believes that they may have opened up a new market for low-cost power that can be delivered with renewable energy on a commercial scale while being completely off the utility grid.
“This event has benefited Gen-X through mentorship and networking in our next steps in deploying our technology across the state and beyond.”
During the eight-day event held in February, Gen-X was able to meet with Silicon Valley venture firms and venture capital mentors to generate interest in their technology and feedback for future development.
“Just from being involved, we have begun discussions with a very large corporate strategic partner that has an interest in working with Gen-X in developing its future commercial opportunities,” said Leo Caires, the chief executive officer and co-founder of Gen-X.
When asked if Caires would attend another such event if invited, Caires responded, “Absolutely, being one of only few companies selected nationwide, and the only from Maui, there is nothing like this eight-day event. What a great experience.”
Gen-X is located in the Maui Research and Technology Park in Kihei.