NYSERDA Announces One-Year Anniversary of State’s First Clean Energy Incubator in Southern Tier

In April 24, 2019

CONTACT:
Jerome Han
(212) 971-5342 ext. 4327
jerome.han@nyserda.ny.gov

Incubator Home to 19 Companies Including 76West Winners and Finalists

Ireland-Based Hub Controls – Last Year’s 76West $500,000 Winner – Opens First North American Office at Incubator

Supports Governor Cuomo’s Green New Deal – A Nation-leading Clean Energy and Jobs Agenda That Puts New York on a Path to Carbon Neutrality

Complements “Southern Tier Soaring” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy

 

The New York State Energy Research and Development Authority (NYSERDA) announced today that 19 companies have joined the Southern Tier Clean Energy Incubator since opening its doors one year ago including 10 winners and finalists of the 76West Clean Energy Competition. The incubator was launched last year for use by 76West winners and other clean energy technology companies to support the Southern Tier’s growing clean energy ecosystem. The incubator supports Governor Andrew M. Cuomo’s Green New Deal, a nation-leading clean energy and jobs agenda that puts New York on a path to carbon neutrality while spurring growth of the green economy and complements “Southern Tier Soaring,” the region’s comprehensive strategy to generate robust economic growth and community development.

Officials from NYSERDA, Empire State Development and Binghamton University were joined today by nearly all of the Southern Tier Clean Energy Incubator companies for a special event at the incubator to celebrate the one-year anniversary. Many of the companies exhibited their technologies for mentors, investors and local businesses who were also on hand. The Southern Tier Clean Energy Incubator provides space, technical support, mentoring and other commercialization assistance for clean technology companies to expand their innovative businesses in the Southern Tier.

Alicia Barton, President and CEO, NYSERDA said, “Since Governor Cuomo launched 76West, there has been tremendous excitement in the Southern Tier as entrepreneurs discover new supply chains, open manufacturing plants and expand their operations. These promising companies will help New York transition to a clean energy economy and grow this vital ecosystem with the needed support and resources to advance the Governor’s climate and energy agenda.”

The newest company to join the incubator is Dublin, Ireland-based Hub Controls which is opening its first North American office in Binghamton at the incubator. Hub Controls won $500,000 in last year’s 76West competition and sells the HUB Controller, a smart thermostat that reduces home energy waste and utility bills. It works with all heating and cooling systems, empowering customers to have more control over their energy use in real time, thereby providing the average Ireland-based home with a 29.2 percent automatic energy savings.

The company is currently finalizing a new prototype and plans to manufacture the U.S. version of its product later this year in the Southern Tier. Hub Controls’ office at the incubator will oversee the manufacturing and testing of the company’s U.S. products and provide support to its U.S. and Canadian customers, including sales and marketing and general operations. Hub Controls plans to hire at least five new employees for this office within the next year.

NYSERDA, which administers the 76West competition, has provided $1.7 million in funding to the Southern Tier Clean Energy Incubator to date. The incubator is one of six funded by NYSERDA and is managed by Binghamton University. Located at the Koffman Southern Tier Incubator complex in downtown Binghamton, the incubator has six mentors available for assistance and offers office space, wet and dry labs, conference rooms, co-working spaces and public reception areas. The incubator also helps connect its companies to prospective investors and development partners.

Companies that are clients of the incubator are developing a wide range of cutting-edge clean energy solutions for residences, businesses and utilities to use. Some of the products and/or solutions being developed by companies in the Southern Tier Clean Energy Incubator include:

  • One of the world’s first solar solutions for industrial steam.
  • Energy storage batteries and systems to increase battery performance and reduce electricity costs and carbon emissions for customers.
  • Unique financing solutions for energy efficiency contractors and utilities.
  • Technology that produces a dye that keeps windows transparent but blocks ultraviolet radiation, helping buildings stay cooler and reduce air conditioning loads.
  • Methods to advance the use of clean energy technologies by increasing the penetration of renewable energy on the grid.
  • A product that enables homeowners and small businesses to generate their own power on premises to reduce their energy cost and carbon footprint, while increasing service reliability.

In addition, Imperium3, a consortium which is investing more than $130 million to create and operate the state’s first giga-factory producing lithium ion batteries is based at the Southern Tier Clean Energy Incubator.

Harvey Stenger, President, Binghamton University, said, “Binghamton University is proud to be a key player in New York’s clean energy agenda. The entrepreneurs operating out of the incubator are creating a green future with new ideas, new investments, and new jobs for the region.”

Empire State Development President, CEO & Commissioner Howard Zemsky said, “The Southern Tier Clean Energy Incubator is spurring local and regional economic growth and demonstrating how our successful public-private partnerships are creating opportunities for all New Yorkers.”

Oliver Hynes, Founder and CEO, Hub Controls said, “Hub Controls is delighted to establish our North American business at the Southern Tier Clean Energy Incubator. We look forward to taking advantage of the vast resources available through the incubator and Southern Tier to help expand The HUB Controller into the U.S. market.”

Located throughout New York (Binghamton, Buffalo, Rochester, Syracuse, New York City and Long Island), the incubators are a critical component of the state’s overall approach to make New York the best place in the world for entrepreneurs to start and scale their clean energy businesses. Since 2009, the state’s incubators have assisted nearly 200 companies that have raised more than $397 million in private investment and secured an additional $200 million in project finance capital.

The 76West Clean Energy Competition is one of the largest competitions in the country that focuses on supporting and growing clean energy businesses and economic development. 76West winners from the first three rounds have integrated themselves into the Southern Tier, raising $28 million in private capital, making multimillion-dollar investments in property and equipment in the Southern Tier, spending more than $1.7 million on key suppliers, and creating new jobs.

About NYSERDA
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise, and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.

New York State’s Green New Deal
Governor Andrew M. Cuomo’s Green New Deal, the nation’s leading clean energy and jobs agenda, will aggressively put New York State on a path to economy-wide carbon neutrality This initiative will provide for a just transition to clean energy, spurring the growth of the green economy and mandating New York’s power be 100 percent clean and carbon-free by 2040, one of the most aggressive goals in the U.S. The cornerstone of this newly proposed mandate is a significant increase of New York’s successful Clean Energy Standard to 70 percent renewable electricity by 2030. As part of the unprecedented ramp-up of renewable energy, New York has already invested $2.9 billion into 46 large-scale renewable projects across the state as it significantly increases its clean energy targets, such as: quadrupling New York’s offshore wind target to a nation-leading 9,000 megawatts by 2035; doubling distributed solar deployment to 6,000 megawatts by 2025; and deploying 3,000 megawatts of energy storage by 2030. To support this ambitious work, NY Green Bank intends to use its expertise in overcoming financing gaps to foster greater environmental impacts per public dollar by raising over $1 billion in third party funds to expand climate financing availability across New York and the rest of North America.

Reforming the Energy Vision
The Green New Deal builds on Governor Andrew M. Cuomo’s landmark Reforming the Energy Vision strategy to lead on climate change and grow New York’s economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency. Already, REV has driven growth of nearly 1,500 percent in the statewide solar market, improved energy affordability for 1.65 million low-income customers, and has led to more than 150,000 jobs in manufacturing, engineering, and other clean tech sectors across New York State.

To learn more about the Green New Deal and REV, visit rev.ny.gov, follow us on Twitter, Facebook, and LinkedIn.

Accelerating Southern Tier Soaring
Today’s announcement complements “Southern Tier Soaring the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $6.2 billion in the region since 2012 to lay for groundwork for the plan – attracting a talented workforce, growing business and driving innovation. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Binghamton, Johnson City and Corning as a destination in which to grow and invest. Now, the region is accelerating Southern Tier Soaring with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 10,200 new jobs. More information is available here.