MIT Clean Energy Prize Awards $225,000 to Student Entrepreneurs

WALTHAM, Mass., May 5, 2016 /3BL Media/ — Last weekend the MIT Clean Energy Prize competition announced the 9^th winner of its annual competition, awarding $100,000 to Heila Tech at an event held at the Massachusetts Institute of Technology.

The MIT Clean Energy Prize is the nation’s largest student-led clean energy business plan competition in the United States, awarding a total of $225,000 to six teams this year. The mission is to accelerate the pace of clean energy innovation and entrepreneurship by helping to develop the next generation of energy entrepreneurs and companies. To date, the MIT Clean Energy Prize has awarded over $2.4 million in prize funding, which has led to dozens of successful businesses and over $250 million in follow-up funding.

Heila Tech, a team comprised of MIT students and alumni, took home the $100K Grand Prize for their design to help microgrids enable energy transformation. Heila Tech simplifies the design installation and operation of microgrids, replacing centralized control with a distributed intelligence network. The U.S. military represents a $210 million beachhead market for Heila, and with a robust team, strong technology, and proven concept, the company shows tremendous potential to bring clean energy solutions to mass market.

“The Clean Energy Prize is a great credibility boost in the competitive microgrid market,” said Jorge Elizondo, CoFounder of Heila Technologies. “The prize will allow us to accelerate the development of our technology and test it in several projects this year. We seek to expand our market penetration as we get our product ready for commercialization next summer.”

 “MIT’s Clean Energy Prize is proof of National Grid’s commitment towards a sustainable future, and we happily support all those who participated in the development of innovative solutions and technologies that could unlock value for our customers,” said Daniel Hullah, Director of Ventures at National Grid. “Heila Tech was one of the many fantastic teams we mentored, and couldn’t be more proud of their accomplishment.”

The Clean Energy Prize is made possible by its sponsors, including National Grid. Other sponsors this year were:  The U.S. Department of Energy, GE Ventures, Morrison & Foerster, Massachusetts Clean Energy Center (Mass CEC), Factor E Ventures, InTeaHouse, and MIT Executive Education.

The MIT Clean Energy Prize presented six awards in total:

About National Grid

National Grid (LSE: NG; NYSE: NGG) is an electricity and natural gas delivery company that connects over 20 million people to vital energy sources through its networks in New York, Massachusetts and Rhode Island. It is the largest distributor of natural gas in the Northeast. National Grid also operates the systems that deliver gas and electricity across Great Britain.

Through its U.S. Connect21 strategy, National Grid is transforming its electricity and natural gas networks to support the 21^st century digital economy with smarter, cleaner, and more resilient energy solutions. Connect21 is vital to our communities' long-term economic and environmental health and aligns with regulatory initiatives in New York (REV: Reforming the Energy Vision) and Massachusetts (Grid Modernization).

For more information please visit our website: www.nationalgridus.com, or our Connecting website. You can also follow us on Twitter, watch us on You Tube, Friend us on Facebook and find our photos on Instagram.

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CONTACT: Paula Haschig – 781-879-2457