Mich Clean Energy Prize gets ready for year three

The second round of this year’s Clean Energy Prize will take place this weekend as the $100,000 competition sponsored by downtown-based DTE Energy and the University of Michigan stretched into its third year.

Twenty-three teams are participating this year with ideas for start-ups that focus on renewable energy, energy efficiency, smart grid technologies, environmental control technologies, plug-in electric vehicles or energy storage. Those teams are made up of students from seven colleges in Michigan, including Wayne State University. Fifteen teams have made it to Round 2 of which eight will go to the semifinal round on Feb. 17.

“We’re looking for innovations that support alternative energy and energy efficiency,” says Scott Simons, a spokesman for DTE Energy.

Among the teams competing this year are some with new ideas, such as a start-up developing a water bottle that provides electricity from waste heat for use by campers and backpackers. Another example includes a start-up that is creating funding mechanism that aggregates consumer credit card reward points as project financing for renewable energy development.

The Clean Energy Prize’s first place finisher will receive $65,000 to help them develop their technology and business plan. Second and third places receive $25,000 and $10,000 respectively. The last two first place finishers include Algal Scientific and Enertia. For information on the competition, click here.

Source: Scott Simons, a spokesman for DTE Energy
Writer: Jon Zemke

Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.