RSI Silicon Wins 2007 Ignite Clean Energy Competition

RSI Silicon of Westborough, Massachusetts is the winner of this year’s Ignite Clean Energy Business Competition, sponsored by the MIT Enterprise Forum.

The company has developed a unique technology to address the critical worldwide shortage of silicon, which affects more than 90% of solar cells made today. While prices of silicon skyrocket and supply from standard sources diminishes, RSI Silicon’s process provides solar grade silicon at a fraction of the current cost, with only 10% of the capital cost. By using this new process, the team expects to compete with large silicon manufacturers and revolutionize the way the material is produced. The team will use the funding to build a pilot line and R&D facility, followed by a large silicon plant to produce up to 15,000 tons per year.

RSI will receive $25,000 cash, three months worth of public relations services from Bell Pottinger USA, $15,000 in legal services from Mintz Levin and a choice of one year of office space from Cummings Properties valued at $25,000 or incubator space at the U. Mass Dartmouth Applied Technology and Manufacturing Center worth $15,000.

The two second place teams are Fox 2 Technologies of Hampton, New Hampshire and Bagazo of Cambridge, Massachusetts. Fox2 Technologies is developing sensor technology for airplane and trucking operators that improves fuel efficiency by more than 5%, improves profitability, and significantly reduces carbon emissions. Bagazo seeks to facilitate socially-responsible investments in developing countries by creating sustainable businesses that will distribute superior and more environmentally-responsible cooking fuels produced from agricultural waste.

They each received $7,500 cash, $7,500 in legal services from Foley Hoag, and one year of office space provided by Cummings Properties valued at $17,500. Bagazo, as the student team, also received a $6,000 scholarship for up to three team members for the Advanced Invention 2 Venture to be held by the NCIIA August 1-4.

Coming in at third place are GreenRay of Lincoln, MA. and C3 Bio Energy of Cambridge, MA. GreenRay is developing a plug-and-play, solar-electric system that dramatically simplifies design and installation, reducing the cost of solar PV. C3 has a patent-pending technology which produces propane and a hydrogen by-product from biomass feedstocks.

The winners were chosen from a pool of 61 teams, which spent three months working with mentors to improve the content and delivery of their investor presentations. They presented to an audience of more than 300 attendees including many potential investors, intellectual property and corporate attorneys, academic leaders, and representatives from government offices and multinational corporations.

++++

www.ignitecleanenergy.com


The Ignite Clean Energy Competition began in 2004 to stimulate the clean energy industry in New England. It provides start-up clean energy companies with the opportunities and resources to develop business skills, network with industry professionals and the chance to attract potential investors. The winners are awarded a total of $250,000 in cash and services.