Ben Welter - Friday, May 29, 2015
Chicago startup NETenergy, an energy storage and management services provider, raked in $40,000 at the University of Chicago's Edward L. Kaplan New Venture Challenge this week.
NETenergy, which won the $100,000 prize at the Clean Energy Trust Challenge earlier this year, was awarded $30,000 from the New Venture Challenge, plus a $10,000 Khosa Maker Prize. The company's thermal energy storage units use phase change composites to store cold energy, allowing customers to shift A/C production to off-peak hours, when electricity is cheaper. The units are paired with software that manages energy use.
Maestro, which is developing a countertop device that can cook pre-portioned healthy foods, won the challenge's top prize of $50,000, plus $20,000 from Pritzker Group Venture Capital.