The UCF Business Incubation Program client joins just 36 companies accepted by Third Derivative’s latest cohort
Orlando, Fla. (August 8, 2023) – One of the world’s premier organizations focused on a sustainable future selected Orlando’s Capacitech Energy for its latest cohort.
Third Derivative, a project of Rocky Mountain Institute and New Energy Nexus, looks to support and help grow companies focused on climate tech. It also comes with a $100,000 investment in the company.
“We turn wiring infrastructure into energy storage assets. Our products mark a significant change to how and where energy is stored, creating a more sustainable future for our world,” says Joe Sleppy, CEO, Capacitech Energy. “Being accepted by this organization, one that focuses exclusively on technology like ours, is humbling and very exciting.”
Capacitech envisions a world powered by a discreet and distributed network of energy storage and plans to use that network to enhance batteries and renewables. The innovative approach expands energy storage systems hidden in plain sight, dramatically improving performance and reducing cost.
Currently, the company has two innovative products. Their first was the Cable-Based Capacitor, which is a wire-like and flexible supercapacitor cell. Their second product is a comprehensive drop-in solution that combines high-power energy storage capacity and power cords together into a single system.
Their products have wide applicability from stabilizing solar farms when clouds pass overhead, providing peak demand shaving for EV charging stations, enabling ancillary services on a microgrid, to helping batteries wirelessly transmit data in internet of things.
Third Derivative’s selection is the most recent success following over $1M of research and development funding from National Science Foundation and Department of Energy.
“Capacitech’s supercapacitor solution has the potential to deliver significant cost savings for energy storage use cases that require greater power variability but are limited by space availability,” says Isha Kulkarni, senior associate at Third Derivative, RMI | Climate, Innovation, Finance. “Third Derivative is excited to support the Capacitech team in further developing and scaling their solution over the next eighteen months.”
The program was founded in 2020 to accelerate the rate of climate innovation working with startups from around the world. The program is backed by some of the largest venture capital funds and corporations in the world, such as Disney, AT&T, BHE (Berkshire Hathaway Energy), and Shell.
Since its inception, the program has worked with more than 150 startups from across the world. Those companies have seen nearly $1 billion investment as a result of being part of the accelerator.
For this cohort, only 8 percent of the companies that applied were accepted. They are from 11 different countries, with nearly half located outside the United States.
“Watching Joe and Capacitech grow over the past few years is truly a point of pride for our entire program,” says Carol Ann Dykes Logue, director, programs & operations, Innovation Districts & Incubation Program, University of Central Florida. “The opportunities that will come out of working with this group will be substantial for the company and for our region in the future.”
# # #
For more information media should contact –
Joe Sleppy, CEO, Capacitech Energy, 727-434-1229, email@example.com
Carol Ann Dykes Logue, Site Manager, UCF Business Incubation Program, 407-207-7426, Carolann.firstname.lastname@example.org
Alan Byrd, Alan Byrd & Associates, 407-415-8470, Alan@ByrdConnections.com
About Capacitech Energy: Capacitech builds a dual-function power cord that also stores energy to enhance batteries and renewables. Their products help reduce cost, improve performance, and exceed expectations by utilizing space more efficiently. Leveraging its award winning flexible supercapacitor technologies, advanced power electronics, and other innovations; Capacitech is enabling a paradigm shift in the energy storage industry. For more information, visit capacitechenergy.com
About the UCF Business Incubation Program: The University of Central Florida Business Incubation Program is a community resource that provides early-stage companies with the tools, training and infrastructure to become financially stable, high growth/impact enterprises. Since 1999, this award-winning program has provided vital business development resources resulting in over 300 local startup companies reaching their potential faster and graduating into the community where they continue to grow and positively impact the local economy.
With eight facilities throughout the region, the UCF Business Incubation Program is an economic development partnership between the University of Central Florida, the Corridor, Orange, Osceola, Seminole and Volusia Counties, and the cities of Kissimmee, Orlando and Winter Springs. In 2022, current incubator clients supported over 1200 employees and generated over $120M in revenue. Nineteen companies graduated from the program and remained in the local community. For more information, visit www.incubator.ucf.edu.