Capital Factory Triples Award Rather Than Cut Two Clean Tech Investment Challenge Finalists, Giving Syzygy Plasmonics, Semtive, and Evolve Energy $100,000 Each
DALLAS (May 3, 2019) – Austin’s Capital Factory awarded three early stage start-ups focused on cleantech with a collective $300,000 at EarthX‘s E-Capital Summit, tripling its initial award of $100,000. The investment committee was so impressed with the promise of the three finalists in the Capital Factory’s E-Capital Summit Cleantech Challenge that Capital Factory chose three instead of just one recipient, providing Syzygy Plasmonics, Semtive, and Evolve Energy with a valuable $100,000 of investment each.
“What a thrill to see three companies walk away from the EarthX E-Capital Summit with this kind of investment and support,” said Tony Keane, CEO of EarthX. “We know that we can have all the good ideas in the world, but we need to shepherd them and convene the right parties – private capital, financiers, early- to late-stage companies, industry thought leaders, policymakers, incubators, accelerators and researchers – to ensure they have the most substantial positive impacts on profit, people and the planet. This is the promise of EarthX, which brought together more than 175,000 people this year alone.”
Syzygy is a technology company developing a new photocatalytic chemical reactor powered by light instead of heat from burning fuel. It holds promise to revolutionize the industrial gas, chemical and energy industries by reducing cost and emissions for major commodity chemicals like fuel, fertilizer and plastic.
Semtive generates clean and renewable energy with Nemoi, a patented vertical axis wind turbine that can be installed in under an hour, operates at extremely low wind speeds, and is virtually noiseless. The system also has a built-in electricity converter that users plug into their home outlet to create their own power.
Evolve Energy uses wind and solar energy to cut up to 30 percent off monthly electricity bills, using an AI platform to automatically shift your energy usage to non-peak hours when more green energy is flowing into the grid. The Evolve app connects to a smart thermostat and other internet-enabled devices to lower costs, and can actually favor cheaper renewable energy when available.
“The EarthX E-Capital Summit has quickly become one of the most important clean tech events and conference featuring pioneers, policy makers, investors, and philanthropists,” said Bryan Chambers, vice president of the accelerator and investment fund at Capital Factory. “While Texas is well known for our contributions to the traditional oil and gas industry, we’re excited to partner with E-Capital on this investment challenge to help inform the public about all the great entrepreneurs and innovation occurring in Texas in the clean tech sector.”
In addition to the $100,000 cash investment and exposure to industry influencers at EarthX, the three winners of Capital Factory’s E-Capital Summit Cleantech Challenge will receive special access to Texas’ top entrepreneurs, be admitted to Capital Factory’s Accelerator program, gain access to the Capital Factory Mentor network, and receive six months of unlimited co-working at Capital Factory.
“We’re ecstatic that our inaugural Cleantech Challenge in collaboration with Capital Factory resulted in not one, not two, but three $100,000 investments. Texas showed up in a big way,” said Matt Myers, vice president of EarthxCapital. “EarthX’s E-Capital Summit exceeded our expectations this year. With over 65 companies participating in the Summit, we’re looking forward to reporting even more similar success stories in the coming months.”
The ninth annual EarthX included three days of exhibitions, a film festival, music, entertainment, learning experiences, discussions, forums, and conferences making it, once again, the world’s largest gathering to positively discuss achievable solutions for environmental change. As the second largest hosted event in Dallas, EarthX attracted more than 170,000 people interested in creating a sustainable world for all living things, and a healthier planet for future generations.