Three Cleantech Companies Win Arizona Innovation Challenge

Six start-up companies have won the Arizona Commerce Authority’s Spring 2012 Arizona Innovation Challenge, which awards $100,000-$250,000 to each.

The companies were  selected from a pool of more than 300 applicants. After a four month evaluation and review process, which included in-person pitches, a panel of expert evaluators selected the winners.

This year, the Authority doubled funding for the Challenge to  $3 million – the largest monetary award in the US for a technology commercialization challenge.

Winners are required to commercialize their technology and generate revenue within one year of the award.

It supports early stage ventures in Arizona’s targeted industries: advanced materials, advanced manufacturing, cleantech and renewable energy, aerospace and defense, bio and life sciences, , and information technology.

Here are the winners in cleantech:

Agave Semiconductor, Phoenix, AZ. The technology optimizes the energy efficiency of electric motors, including applications in portable medical devices and cloud server fans.

HJ3 Composite Technologies, Tucson, AZ. Makes carbon fiber- reinforced polymer products used to repair the failing infrastructure worldwide.

MaxQ Technologies, Chandler, AZ. Manufactures advanced liquid cooled coldplates used to cool power converter systems in several markets, including renewable energy.

The Fall 2012 Arizona Innovation Challenge will begin accepting applications on August 15.

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