Energy Excelerator, an accelerator program for cleantech startups based in Hawaii, has picked its 2015 class of 17 companies, which will receive a total of $5 million in funding.
The program says its new cohort was selected from hundreds of companies in grid technologies, transportation, agriculture, water, energy efficiency, and infrastucture resilience. Last year, Energy Excelerator received an investment of $30 million from the Navy’s Office of Naval Research under the Asia Pacific Technology Education program, which tripled the funding the program has operated on since its launch in 2010. The investment was a significant boon for the program because cleantech funding has dropped because of its large capital requirements and relatively slow returns.
Since receiving its funding from the Navy, Energy Excelerator has gone on to raise over $55 million in follow-on funding. The program has two tracks for startup. For companies that already have strong customer traction, Energy…
View original post 300 more words