Emerging Innovation Award
Nostrum Energy, LLC is the winner of SAFE’s first-annual Emerging Innovation Award, The award recognizes companies whose technology is poised to enter the marketplace within the next five years and help improve America’s energy security by reducing our nation’s dependence on oil. Achates Power, Inc. was the first-runner up in the competition and Virent, Inc. was the second-runner up
Advanced Technology Award
The Advanced Technology Award (ATA) recognizes groundbreaking technologies in the marketplace today that are helping to reduce U.S. oil dependence. Winners of the Advanced Technology Award will be honored at the OPEC Oil Embargo +40 Summit.
Meet the Winners
- Virent Inc.
Winners were determined by the combined votes of an expert selection panel, the public via online voting, and the audience at SAFE’s OPEC Oil Embargo +40: A National Summit on Energy Security. As the first place winner, Nostrum Energy, LLC received $125,000 in prize money. As the first and second runners up, Achates Power, Inc. and Virent, Inc. received $35,000 and $15,000.
Nostrum Energy LLC
Kaushik Vyas, CEO
Nostrum Energy’s internally cooled Internal Combustion cycle for engines can double the thermal efficiency and triple the fuel-to-wheel efficiency of a vehicle. It uses liquid and gas media, and advanced injection and control technologies. As first step in sweeping remake of the engine, Nostrum is introducing new injectors which can increase efficiency by 20% or more, followed by other products. Nostrum’s product line will target existing and new vehicles - without impacting existing manufacturing infrastructure. With more than 200 million IC engines being produced every year, this represents a pragmatic and effective way to reduce oil imports – NOW.
Laurence Fromm, VP Business and Strategy Development
Achates Power has developed radically improved internal combustion engines that increase fuel efficiency, reduce greenhouse gas emissions and are lower cost. Founded in 2004 with the mission to build better, more efficient engines, the company has an experienced staff focused on applying their proven technical expertise, coupled with leading-edge testing, simulation and analysis tools. The result of their efforts: a powertrain that is environmentally and economically sustainable, and can be used in a broad range of applications—including nearly all forms of transportation. Once in production, the Achates Power engine will dramatically reduce global oil consumption and America’s oil dependence.
Kieran Furlong, Director of Chemicals Business Development
Virent is replacing crude oil by creating the chemicals and fuels the world demands using a wide range of naturally‐occurring, renewable resources. Its patented technology features catalytic chemistry that converts carbohydrates from both conventional and lignocellulosic resources into a full range of hydrocarbon products identical to those made from petroleum, including gasoline, diesel, jet fuel, and chemicals for plastics and fibers. Through this method, Virent’s technology can replace over 90% of the products currently derived from a barrel of crude oil. The development of Virent’s BioForming® technology is supported through strategic investors and collaborators, including Shell, Cargill, Coca‐Cola, and Honda.
Meet the Winners
Cummins Westport Inc. develops spark-ignited natural gas engines capable of running on compressed or liquefied natural gas which offsets the use of diesel fuel in medium and heavy-duty truck and bus applications. Cummins Westport has sold over 35,000 natural gas engines worldwide since 2001.
General Motors Company is reducing American gasoline consumption by developing the first commercially available plug-in hybrid electric vehicle, the Chevy Volt. Since its release in 2011, almost 50,000 Volts have been sold. Chevy Volts on the road today have driven over 280 million miles on electricity, accounting for 15 million gallons of gasoline saved. GM also produces the all-electric Chevy Spark EV.
Learn more about the Volt at http://www.chevrolet.com/volt-electric-car.html
Nissan has been a leader in developing electric vehicle technology, and developed the first global commercially available battery electric vehicle for the mass market, the Nissan LEAF. Since its release in December 2010, more than 35,000 LEAF vehicles have been sold in the United States alone.
Learn more about the LEAF at http://www.nissanusa.com/electric-cars/leaf/
Shorepower Technologies has deployed Truck Stop Electrification services to over 1,800 parking spots at 62 U.S. locations, enabling long-haul trucks and refrigerated truck trailers to draw power from the grid rather than idle or run diesel engines, while drivers take mandatory rest periods or pause during extended journeys.
Learn more about Shorepower at www.shorepower.com