RI Company Flux Marine Wins Regional Prize, Will Compete in Global Forum 

Providence, R.I., November 6, 2019– With the backing of the Slater Technology Fund, five promising companies participated in the 2019 Cleantech Open in the Northeast. Cleantech Open provides entrepreneurs the resources needed to launch a successful cleantech company, including extensive mentoring, training, investor meetings, startup-corporate matching, and opportunities to showcase their technologies.

Slater underwrote the participation fees for the five Rhode Island companies that went through the Cleantech Open Northeast accelerator, including:

CBC Wind Energy, a cleantech company developing a proprietary technology for harvesting wind energy where traditional wind turbines are not suitable, including homes and other structures.

Fluid Sense, a technology company that provides solutions to environmental, safety and information issues through connected devices and cloud platforms.

Flux Marine, a designer and manufacturer of zero-emissions electric boat motors that offer increased performance parameters compared to industry standards. The company’s technology has the potential to significantly reduce overall recreational outboard CO2 pollution levels.

Prisere, a provider of disaster risk reduction and climate change adaption strategies to enable small business resilience.

Soilless, the developer of an affordable, vertical hydroponic system to make gardening more accessible to all.

At the culmination of the program, the 32 companies that successfully completed this year’s accelerator competed in a business plan competition judged by a panel of top cleantech and business leaders. Rhode Island’s Flux Marine was one of the four regional winners selected. Flux and the other three regional winners were awarded $10,000 in cash plus additional in-kind services, and will go on to represent the Northeast at the Cleantech Open Global Forum in Los Angeles on November 11-12. There, they will compete with emerging environmental and energy technology firms throughout the nation for the national grand prize.

“Rhode Island has a number of entrepreneurs with compelling ideas for tackling the considerable environmental challenges we face,” said Thorne Sparkman, managing director of the Slater Technology Fund. “We are pleased to help these entrepreneurs by matching them with the industry-specific resources and network of mentors they need to succeed, and we’re particularly pleased that Flux Marine has been recognized as one of the top cleantech innovations.”

“Slater continues to offer critical support to the growing cleantech sector in the region,” said Beth Zonis, Northeast Regional Director of the Cleantech Open. “We are grateful to them for identifying the promising cleantech innovations in Rhode Island, and ensuring their successful participation in our program.”

About Slater Technology Fund

The Slater Technology Fund is an evergreen not-for-profit seed fund dedicated to supporting new venture development in Rhode Island. More than two decades ago, Slater launched a platform for seed-stage investing in Rhode Island; today, the organization remains the most active seed-stage investor in the state. Slater has invested in hundreds of technology ventures in the region, achieving multiple exits while also generating economic impact returns in the form of high-wage jobs.  For more information, visit www.slaterfund.com.

About Cleantech Open

Cleantech Open is the world’s largest cleantech accelerator and is dedicated to providing entrepreneurs and technologists the resources needed to launch a successful cleantech company. Our mission is to find, fund and foster entrepreneurs with big ideas that address today’s most urgent energy, environmental, and economic challenges. A 501(c)(3) not-for-profit organization, Cleantech Open provides the infrastructure, expertise and strategic relationships that turn clever ideas into successful global cleantech companies. Over the past eight years, Cleantech Open has trained over 1,200 early-stage clean technology startup entrepreneurs. A majority of alumni have survived the merciless technology startup “valley of death” and gone on to raise $1.2 billion and create over 3,000 clean economy jobs. Fueled by a network of more than 2,000 volunteers, Cleantech Open unites the public and private sectors in a shared vision for making America’s cleantech sector a thriving economic engine. For more information, visit  www.cleantechopen.org.

About NECEC

NECEC (Northeast Clean Energy Council & NECEC Institute) is the premier voice of businesses building a world-class clean energy hub in the Northeast, helping clean energy companies start, scale and succeed with our unique business, innovation, and policy leadership. NECEC is the Northeast regional affiliate for Cleantech Open, executing the Northeast accelerator and business plan competition and building the region’s innovation network with NECEC’s successor program for cleantech entrepreneurs, Cleantech Navigate Northeast. Learn more at www.necec.org.

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SVM Public Relations
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hillary.lima@svmpr.com
laura.nelson@svmpr.com