Solar energy’s growth in Pennsylvania is best represented by the state’s No. 2 national ranking in solar jobs created. Fittingly, a company working on a unique application of solar technology was victorious in one of PA’s most anticipated (and fun) business competitions.
Bethlehem-based CEWA Technologies bested two other companies on Tuesday night to take home first place in the 2010 Ben Franklin Venture Idol competition, the annual showcase for early-stage companies seeking funding presented by Ben Franklin Technology Partners of Northeastern Pennsylvania.
CEWA was honored before 200 guests at the day-long event at Iacocca Hall on the campus of Lehigh University. Representatives from CEWA, a resident company in Ben Franklin TechVentures (also on Lehigh’s campus), did not immediately return a phone call seeking comment.
Using existing materials in new ways, CEWA designs and manufactures point concentrated solar dishes that can provide 30kW of thermal energy at prices that beat those associated with existing solar technologies, are also competitive with fossil fuel, and do not rely on government subsidies. The dish is made to be easyt o install, operate and maintain in a wide variety of applications and terrains. Optimization of the dish is also more efficient, and it can be used for space or process heating, HVAC, or electricity generation.
In a September interview with Keystone Edge Innovation and Job News editor Rebecca VanderMeulen, CEWA CEO Paul Eisenhuth said the company planned to market the dishes in the U.S. and in China and India. A prototype of the company’s dish is being built and is expected to be installed on the campus of nearby Northampton Community College by early 2011.
On Tuesday, CEWA received a first prize of a $5,000 cash investment. HealthOneMed and AwarePro Inc. were the other Venture Idol finalists. The day began with a speed dating session in which 24 pre-selected companies delivered two-minute elevator pitches to potential investors.
Venture Idol judges included Loren Danzis of the Delaware Crossing Angel Group, Michael Gutch of HIG Ventures and David Nevas of the Edison Venture Fund.
Joe Petrucci is managing editor of Keystone Edge. Send feedback here.
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Photo:
From left, CEWA Technologies CEO Paul Eisenhuth; Al Philpotts, manager of manufacturing programs for Ben Franklin Technology Partners of Northeastern PA; and event emcee Richard Fox, managing partner of Cross Atlantic Capital Partners.
(courtesy of Ben Franklin Technology Partners of Northeastern PA)