Alphabet Energy will be one of 36 honored as the world’s most innovative start-ups at the World Economic Forum’s Annual Meeting of New Champions.
HAYWARD, CA – The World Economic Forum officially announced today that Alphabet Energy Inc., innovator of thermoelectric products for waste-heat recovery, is being recognized as a 2014 Technology Pioneer. Alphabet Energy will be honored as one of 36 of the world’s most innovative technology start-ups at the Forum’s Annual Meeting of the New Champions 2013 in Dalian, People’s Republic of China, from September 11-13, 2013.
Alphabet’s mission is to enable the production of inexpensive electricity from any heat source, anywhere. With a technology that can generate power from heat sources ranging from microwatts to megawatts, Alphabet plans on delivering products in a wide variety of heat-producing applications. The four-year-old company recently raised a series B investment from Encana, one of the world’s largest natural gas producers, and is gearing up to deliver its first products to the energy-intensive oil & gas and mining industries. Founder & CEO Matthew L. Scullin said, “We are honored to be listed among some of the most important technology companies in the world and are thrilled at the World Economic Forum’s recognition that thermoelectrics have the potential to become, like microchips and solar panels before them, one the world’s next platform technologies.”
The World Economic Forum released a statement today saying, “These companies are being recognized for their potential to transform the future of business society.” Alphabet Energy is working to help combat the growing demands of an energy-intensive economy by offering low-cost waste-heat recovery products which reduce operating spend and fuel consumption for engines and industrial processes. Alphabet’s technology has low up-front capital cost, fast payback times and virtually no operation or maintenance requirements. They are currently developing implementations for the automobile industry, as well, with their revolutionary thermoelectric technology that can convert any heat source into electricity.
“The impact of technology continues to increase in all aspects of society,” said David Aikman, The World Economic Forum’s Managing Director, Head of New Champions at the World Economic Forum. Each year the World Economic Forum chooses a select number of Technology Pioneers from hundreds of applicants. Candidate companies are nominated by Members, constituents and collaborators of the World Economic Forum and by the public. A selection committee, comprised of top technology and innovation experts, academics and venture capitalists, reviews all applications before making its recommendation to the World Economic Forum.
More information about Alphabet Energy can be found at www.alphabetenergy.com.
More information about the World Economic Forum’s Technology Pioneers http://www.weforum.org/techpioneers.