University of Michigan

Clean Energy Prize showcases promising new technologies

Photos by Scott Soderberg, U-M Photo Services

The Clean Energy Prize winning team of Algal Scientic Corp. includes from left: Geoff Horst, an ecology doctoral student at Michigan State University; Jeff LeBrun, a Ross School MBA student; Bobby Levine, a U-M doctoral student in chemical engineering; and John Rice, a Ross School MBA student.

Following his team’s victory, Bobby Levine was interviewed by Fox 2 News. Fox 2 News report

 

Student finalists share their ideas on the business of Clean Energy—Video (4:35) »

March 26, 2009

A plan to use algae to simultaneously treat wastewater and produce the raw materials for biofuels has won the inaugural Clean Energy Prize, presented March 20 at the Stamps Auditorium on North Campus.

Sponsored by DTE Energy, the University of Michigan, the Masco Corporation Foundation and The Kresge Foundation, the competition encourages entrepreneurship in Michigan and the development of clean energy technology.

Team Algal Scientific Corp., comprised of business, engineering and ecology students from the University of Michigan and Michigan State University, earned the top prize of $65,000. Their business plan rose to the top in a field of 23 teams.

“We developed the Clean Energy Prize to serve as a catalyst for students and faculty to bring clean energy technologies from university labs to the market,” said Gerard Anderson, DTE Energy president and chief operating officer. “We also see this prize as one of many steps toward recapturing Michigan’s past spirit of innovation and entrepreneurship.”

The competition was organized by:

• The U-M Ross School of Business’ Zell Lurie Institute for Entrepreneurial Studies
• The College of Engineering’s Center for Entrepreneurship
• The Michigan Memorial Phoenix Energy Institute
• MPowered Entrepreneurship
• The Ross Energy Club

The judges awarded the $21,000 second place to team Husk and the $3,400 third place to team Ikanos Power. Husk’s proposal involved using rice husk ash to make insulation for refrigerators that’s at least six times more efficient than dominant technology. Ikanos Power’s proposal involved producing highly-efficient, fuel-flexible power generators for use on such vehicles as military tanks and tractor-trailers.

The prize money will help the winning teams start new businesses that can contribute to Michigan’s emerging role as a leader in clean energy, organizers say.

This story was adapted from a University of Michigan News Service report.