Arrecife Energy Systems has been selected to participate in 2017 Cleantech Open Northeast annual accelerator program to further advance its wave energy business.
Throughout the 5-month accelerator, companies will be connected with mentors, entrepreneurship education, visibility, opportunities to access capital, and other vital resources to help entrepreneurs and technologists launch a successful cleantech company.
Arrecife Energy was selected as one of the 31 companies for this year’s Cleantech Open Northeast accelerator, from a pool of 77 applicants. The company is developing a new wave energy converter that features turbines with a high torque and a low speed to harness the energy of the waves.
The device simulates the natural behavior of coral reefs and their efficiency in absorbing wave energy, and was recently tested in real-sea environment off Spain.
The Cleantech Open Northeast Class of 2017 will kick off the accelerator in Boston on June 26-27, 2017, with the Cleantech Open East Coast Academy, a two-day program during where companies will hear from leading cleantech business leaders, receive specialized startup mentoring, and refine their business plans.
“Once again the strength of our applicant pool is a testament to the vitality of the cleantech sector in the Northeast. We received a number of applications from companies that have worked with our ecosystem partners, demonstrating the network of support promoting the development and deployment of clean technologies in our region,” said Kathryn Elmes, Cleantech Open Northeast Director.
Cleantech Open is a US-based cleantech accelerator dedicated to providing entrepreneurs and technologists the resources needed to launch a successful cleantech company.
Over the past seven years, the Cleantech Open has awarded over $5 million in cash and services, and during that time, according to the cleantech accelerator, 880 of its alumni companies have raised more than $1 billion in external funding.