START Phase II grant is further validation of advance towards commercialization of heat-to-electricity clean energy company MTPV.
BOSTON, MA July 26, 2017 MTPV Power Corporation, a clean energy company that converts heat to electricity using semiconductor chips, has announced that it has been awarded a MassVentures 2017 START Program Stage II grant. This award enables MTPV to build upon the commercialization advances supported by last year’s Stage I award.
The START Program awarded Stage II grants to 6 companies from the pool of 2016 Stage I winners, as part of a three-year process designed to provide increasing financial rewards to SBIR (Small Business Innovation Research) Phase II companies that demonstrate progress on the path toward commercialization. MTPV was awarded SBIR and Technology Enhancement for Commercial Partnerships grants by the National Science Foundation in both 2015 and 2016.
“MTPV Power Corporation is delighted to be named a MassVentures 2017 START Program Stage II awardee. Stage I START Program funds have helped MTPV to deploy a commercial site pilot, advancing market readiness,” said MTPV’s President & CEO David Mather. “The funding and support provided by the START Program is an invaluable resource for high growth companies in the Commonwealth of Massachusetts working to commercialize innovative technologies.”
“The START program is a rich feeder source to the venture community that fosters growth of companies and readies them for commercialization,” said Jerry Bird, President, MassVentures. “MassVentures START program helps companies like MTPV Power Corporation capitalize on their SBIR funds and arms them with the capital, experience, and network they need to transition to high-growth companies.”
About MTPV Power Corporation (https://www.mtpv.com)
MTPV is a clean energy semiconductor company using its breakthrough technology to harness the world’s heat and convert it to electricity. For more information, visit https://www.mtpv.com.
About MassVentures (http://www.mass-ventures.com/)
MassVentures is a quasi-public venture capital firm focused on fueling the Commonwealth’s innovation economy by funding early-stage, high-growth Massachusetts startups as they move from concept to commercialization. The MassVentures’ START program received the prestigious 2015 Tibbetts Award from the U.S. Small Business Administration. More information on the START program and the MassVentures 5 Year START Report can be found at www.mass-ventures.com/start-program/.