Press Release: 14 Teams Advance in Clean Energy Prize Competition
DTE Energy is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its largest operating units are Detroit Edison an electric utility serving 2.1 million customers in Southeastern Michigan and MichCon a natural gas utility serving 1.2 million customers in Michigan. Detroit Edison is the Company's principal operating subsidiary. Affiliates of the Company are engaged in non-regulated businesses including energy-related services and products. DTE Energy Company has a market cap of $5.57 billion; its shares were traded at around $34.44 with a P/E ratio of 10.67 and P/S ratio of 0.65. The dividend yield of DTE Energy Company stocks is 6.21%. DTE Energy Company had an annual average earning growth of 7.5% over the past 5 years.
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The competition was founded this year to help move clean energytechnologies from the laboratory to commercial production. DTE Energy, throughits DTE Energy Ventures subsidiary, and U-M, are challenging teams from
The competition is a rigorous, multi-round process geared to reward topclean energy business ideas and provide students with experience and expertfeedback on what it takes to create a successful clean energy startupbusiness.
More than 20 teams provided summaries for their prospective businesses andthe 14 teams still in competition now will submit seven-page market andfinancial overviews for judging
Following is the list of advancing teams and a summary of their businessproposals:
-- Aeolian is involved in the design and manufacture of air-poweredautomotive engines.
-- Algal Scientific is involved in early-stage biotech and processengineering focused on producing algae biofuels.
-- Building Energy Science would offer residential energy-efficiencyretrofits.
-- C6 Partners would operate landfill gas projects.
-- Collective Energies would provide residential energy usage tracking.
-- CTW International would develop land-based projects that have climate,biodiversity and community benefits.
-- Energy Technology Components would make modular, portable auxiliarypower units.
-- Husk would convert agricultural waste into high-grade insulation.
-- Potential Energy would create clean, sustainable storage for windenergy.
-- SITumbra would develop a solar shading window system.
-- Urban Wind Solutions would offer vertical axis wind turbines tohigh-rise buildings for energy and advertising space.
-- Vital Group would sell wind turbines.
-- Vortex Hydro Energy is involved in harvesting energy from moving water.
-- We Gen would work with communities to develop renewable energyprojects.
The U-M Ross School of Business' Zell Lurie Institute for EntrepreneurialStudies, College of Engineering's Center for Entrepreneurship, and theMichigan Memorial Phoenix Energy Institute along with student organizationsMPowered Entrepreneurship and the Ross Energy Club have organized thecompetition. The competition is open to students and faculty from all
The competition requires teams to focus on business ideas that supportrenewable energy, energy efficiency, smart grid technologies, environmentalcontrol technologies, plug-in electric vehicles or energy storage.
The business plan entries are judged by independent panels that includeleaders from the venture capital, business, industry and academic communities.First round judges came from Google, Innoventures, the Michigan Public ServiceCommission and Next Energy.
The prize money will help the winning teams start new businesses that cancontribute to
Details of the competition are available on the Clean Energy Prize Website: www.dtecleanenergyprize.com .
DTE Energy Ventures is a DTE Energy company that invests in emergingenergy technologies and to date has invested more than
DTE Energy (NYSE: DTE) is a
The globally recognized
The Michigan Memorial Phoenix Energy Institute develops, coordinates andpromotes multidisciplinary energy research and education at the U-M. Some 75faculty in disciplines ranging from engineering to policy to environmentalscience to urban planning are a part of the institute.
This competition coincides with a number of other energy andsustainability related initiatives at the
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