WASHINGTON — New York-based company ThermoLift Inc. has won the 2014 Ultra-Light Startup’s Future Energy Competition held at the ARPA-E Energy Summit near Washington, D.C., beating out more than 200 competitors. ThermoLift’s highly efficient natural gas-driven thermal air conditioner and heat pump is said to have the potential to reduce energy consumption by 30 to 50 percent at competitively low costs.
The Future Energy Competition highlights clean-tech companies that are dedicated to providing solutions towards the world’s energy challenges. Possible investors include well-known corporations such as Shell International, providing financing opportunities for funding for research and business start-ups.
The competition began with more than 200 energy entrepreneurs. ThermoLift was one of eight companies selected for the final competition. The event took place at the Gaylord Convention Center in National Harbor, Md.
“Just the opportunity to address the ARPA-E conference as a company onstage was a win ... but then to actually win the competition. It was a huge accomplishment for ThermoLift, the DOE, NYSERDA, and New York State. We expect a 30-50 percent reduction in fuel consumption in residential and commercial heating and cooling applications with one device at a lower acquisition cost,” said CEO Paul Schwartz.
The New York State Energy Research and Development Authority (NYSERDA) and the U.S. Department of Energy (DOE) awarded a respective $483,000 and $750,000 to ThermoLift last year. The company is developing a natural gas-driven heat pump/air conditioner/water heater with the intent of replacing conventional HVAC and domestic hot water systems in residential and commercial buildings. This design uses the chemical energy stored in natural gas, along with “renewable” thermal energy from the surrounding environment for high efficiency operation.
“NYSERDA congratulates ThermoLift on this recognition of its innovative energy efficient technology,” said John B. Rhodes, president and CEO, NYSERDA. “Governor Cuomo’s support of advanced building technologies is yielding substantial energy savings in buildings across the state while at the same time stimulating the state’s clean energy economy.”
ThermoLift collaborates with Stony Brook University, Oak Ridge National Laboratory, and National Grid. Recently, ThermoLift was also the winner of the 2013 Defense Energy Technology Challenge.
ThermoLift operates out of Stony Brook University’s Advanced Energy and Research Technology Center (AERTC) on Long Island, N.Y. For more information, visit www.tm-lift.com.
Publication date: 3/17/2014