Electrified Thermal Solutions has been selected to receive a $500,000 Stage III Award through MassVentures’ SBIR Targeted Technologies (START) Grant Program. The company was one of 26 recipients chosen from across Massachusetts to receive funding totaling $4.5 million.
The START program provides non-dilutive funding to help companies convert federally funded research into viable businesses and jobs. The grant will support crucial business development activities including marketing, business development, and intellectual property strategy as Electrified Thermal commercializes its Joule Hive™ thermal battery technology.
“START is a visionary program that helps prepare founders to raise private capital, create jobs, and grow successful businesses,” said MassVentures President and CEO Charlie Hipwood. “We are excited to expand the program this year to support additional companies making scientific and engineering breakthroughs that address big societal challenges.”
The Joule Hive™ thermal battery converts and stores intermittent renewable electricity into constant, high-temperature, industrial-grade heat up to 1,800°C, enabling the decarbonization of energy-intensive industrial processes across sectors including cement, steel, and chemicals manufacturing.
Since launching in 2012, the START program has awarded $41.7 million to 141 companies that have collectively employed more than 3,300 people and leveraged over $5 billion in private capital throughout Massachusetts.
Read more from Mass Ventures here.
