Three early-stage Maine companies have been accepted into this year’s Cleantech Open, a national startup accelerator program and business-pitch competition for companies working to address environmental and energy challenges.
The Maine companies accepted into the 2021 cohort are Finsulate, which has developed an alternative to toxic antifouling paints used on ship hulls; Alonetics, which is developing an IoT service that focuses on energy management applications; and Acadian Composite Materials (ACM), which makes structural insulated panels from recycled plastic for use in residential and light commercial construction.
“ACM is very honored to be chosen—especially after seeing the caliber of the other incredible companies and founders that we’ll be participating alongside,” Madeleine Agnew, ACM’s general manager, told Maine Startups Insider. “We’re particularly grateful to E2Tech and the Maine Technology Institute for encouraging and supporting our application, and are excited for the chance to introduce our groundbreaking recycled building material to the Cleantech Open network of industry leaders and experts, while refining our pitch and plans through the accelerator program.”
The Cleantech Open is a hybrid between a startup accelerator and business pitch competition. It claims to be the world’s largest accelerator for startups working in the areas of environmental science and clean energy.
The accelerator and competition begin at the regional level. Cleantech Open Northeast accepted 52 startups, including the three from Maine, out of 71 that applied. This year’s cohort is the largest in the history of Cleantech Open Northeast and represents companies operating in a range of cleantech sectors, including energy efficiency, transportation, green building, agriculture, water, and energy generation.
“For more than 15 years, Cleantech Open Northeast has provided our region’s cleantech pioneers with unmatched guidance and mentorship, and grown the ecosystem of startups driving cleantech and climatech solutions,” said Cleantech Open Northeast Senior Director Beth Zonis. “This year’s cohort represents a wide range of technologies and services focused on tackling our shared climate challenges.”
The companies are in the second week of participation in the Cleantech Open, which requires a significant commitment by participating companies.
Bernard Hidier, a Portland-based director of Finsulate, said the Cleantech Open had so far proven to be a “very well-oiled program” that offers his company a unique opportunity to receive national attention and “fast-track our development thanks to the support and feedback of people (mentors, other startups, the Cleantech Open community) who one way or another have been through similar experiences before.”
Lance Ahearn, who co-founded Alonetics and is based in Lincolnville, said he was unsure of giving up so much time to participate, but the value he’s already realized has changed his mind.
“We might have been somewhat skeptical as to the value of the program relative to the time commitment, but with the quality we have seen in just the first week we view our participation as important to Alonetics’ future,” he said.
The Environmental & Energy Technology Council of Maine, otherwise known as E2Tech, along with the Maine Technology Institute and the Governor’s Energy Office, are supporting the Maine companies participating in the Cleantech Open.
“Early stage investment into cleantech or ‘climate-tech’ is growing fast, surpassing $16 billion in 2019, but relatively few companies in Maine participate in the sector,” said Marty Grohman, E2Tech’s executive director. “That’s why this consortium of Maine energy, technology and business leaders is seeking to boost this fast-growing area by supporting involvement in the Cleantech Open.”
Each year, the accelerator program culminates in a regional pitch competition where startups showcase their ventures before a panel of judges that select four regional winners to each receive a $10,000 cash prize. In 2021, thanks to a grant from the Sire Foundation, Cleantech Open Northeast will also give a new $10,000 prize to a carbon sequestration startup that completes the annual accelerator. The regional winners and finalists will continue on to compete for the national grand prize at the Cleantech Open finals.
Several Maine companies over the years have been accepted into the Cleantech Open, including a few that won the northeast regional competition and went to the national competition. Surge Hydro won the regional competition in 2017, Portland-based Rapport won in 2015, and Pika Energy in Gorham won in 2012. So far, no Maine company has won the national competition.
