SiEnergy Systems, LLC Awarded Grant for $300,000 Through the Massachusetts Clean Energy Center’s AmplifyMass Program
26 March 2015 - 6:00PM
Business Wire
The Massachusetts convertible grant program is designed to
supplement funding provided to recipients of the Advanced Research
Projects Agency-Energy (ARPA-E) program, which SiEnergy won
last year. The company is being recognized for its efforts to
develop a hybrid electrochemical system that performs as both a
fuel cell and battery.
SiEnergy Systems, LLC, which is commercializing low temperature
thin film solid oxide fuel cell (SOFC) technology from Harvard
University, is pleased to announce that it was awarded a $300,000
grant from the Massachusetts Clean Energy Center (MassCEC) under
their AmplifyMass program.
AmplifyMass offers its awards to Massachusetts-based clean
technology companies and university research projects that have
been given funding by the U.S. Department of Energy’s ARPA-E
(Advanced Research Projects Agency – Energy) program, which
SiEnergy Systems won in 2014.
SiEnergy Systems is developing a thin film SOFC for the portable
and small power generation markets. The technology is designed to
reduce fuel cell cost, and allow fast start-up and load-following
capability by responding rapidly to changes in power demand. The
targeted end result aims to be a practical, affordable, and energy
efficient system that is able to use convenient fuels and
significantly reduce fossil fuel consumption and greenhouse gas
emissions.
“We are very pleased to be a recipient of this grant, which will
provide SiEnergy with resources to invest in additional research
and development that will accelerate the progress of our
technologies,” said Vincent Chun, General Manager of SiEnergy and a
Vice President at its parent company, Allied Minds (LSE: ALM). “The
support of the MassCEC goes beyond just the funding that they’re
providing. MassCEC is engaged in pushing forward clean energy in
ways that benefit the portfolio of companies that now includes
SiEnergy, and opens up opportunities for advocacy and
networking.”
SiEnergy’s technology uses nanometer scale electrolytes to
create SOFCs that operate at a commercially desirable temperature
and is scalable to meet various power requirements. Thin film SOFC
is a promising technology that provides solutions to cost and
reliability challenges of fuel cells today.
Fuel cells—or devices that directly convert the chemical energy
of a fuel source into electrical energy—are considered optimal for
distributed power generation systems, which generate power close to
where it is used. Distributed generation systems offer an
alternative to the large, centralized power generation facilities
or power plants that are currently commonplace. While centralized
power generation systems have an excellent economy of scale, they
often require long transmission distances between supply and
distribution points, leading to efficiency losses throughout the
grid. Additionally, it is difficult for centralized power systems
to balance power generation with the grid demand in the presence of
intermittent renewable power sources. Fuel cells provide efficient
power generation capability and improved grid stability through
local balancing of the power supply and demand.
SiEnergy Systems is a subsidiary of Boston-based Allied Minds.
More information about the company and its research can be found at
www.sienergysystems.com.
About SiEnergy Systems, LLC
SiEnergy Systems is commercializing a proprietary thin film
solid oxide fuel cell technology developed at Harvard University.
The technology uses commonplace high throughput solar/LED
manufacturing processes to create SOFCs with nanometer-scale
electrolytes that operate at low temperature, use less material,
and are scalable to meet various power requirements. The “Silicon
Energy” reduces the cost of SOFCs and creates clean and affordable
mobile and small stationary power sources. For more information,
visit www.sienergysystems.com.
About Allied Minds
Allied Minds (LSE: ALM) is an innovative U.S. science and
technology development and commercialization company. Operating
since 2006, Allied Minds forms, funds, manages and builds products
and businesses based on innovative technologies developed at
leading U.S. universities and federal research institutions. Allied
Minds serves as a diversified holding company that supports its
businesses and product development with capital, central management
and shared services. More information about the Boston-based
company can be found at www.alliedminds.com.
Allied Minds Forward-Looking Statement
This press release contains statements that are or may be
forward-looking statements, including statements that relate to the
company’s future prospects, developments and strategies. The
forward-looking statements are based on current expectations and
are subject to known and unknown risks and uncertainties that could
cause actual results, performance and achievements to differ
materially from current expectations, including, but not limited
to, those risk and uncertainties described in the risk factors
included in the company’s regulatory filings. These forward-looking
statements are based on assumptions regarding the present and
future business strategies of the company and the environment in
which it will operate in the future. Each forward-looking statement
speaks only as at the date of this press release. Except as
required by law, regulatory requirement, the Prospectus Rules, the
Listing Rules and the Disclosure and Transparency Rules, neither
the company nor any other party intends to update or revise these
forward-looking statements, whether as a result of new information,
future events or otherwise.
ArcPoint Strategic CommunicationsChristine Dunn, 617-484-1660
x101cdunn@arcpointstrategy.com
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