SOURCE: SURGE Accelerator
HOUSTON, TX--(Marketwired - Feb 17, 2014) - SURGE has announced the newest group of startups joining its growing energy tech portfolio. SURGE selected eleven companies that promise to disrupt the energy industry. They join an increasingly elite group of energy startups that have completed the SURGE program. SURGE Alumni have raised over $25 million in follow-on funding.
SURGE considered more than 600 startups this year before picking the final eleven. Companies developing solutions for oil and gas, power and utilities, cleantech, and water were evaluated by SURGE's growing investor and mentor base.
Kirk Coburn, Founder and Managing Director of SURGE said, "Our goal is to handpick the brightest entrepreneurs that are solving the world's energy problems. We have come a long way in the last two years towards accomplishing our goal. We look forward to watching our newest companies exceed our expectations and previous results."
This year's class includes the following companies: 10Six (New York), Autonomous Marine Systems (Washington DC), Clear Creek Networks (Colorado), Cold Futures (Illinois), Greasebook (Oklahoma), Petrabytes (Texas), Project Insiders (Texas), renooble (Oregon), SEE Forge (Australia), Seisquare (France), and Simulation Appliance (Canada).
Over the next three months, these startups will develop mentor relationships, land customers, and prepare to raise additional capital. The 12-week program concludes with a demo day, known as "SURGE Day," this May. At SURGE Day, each company will pitch to an exclusive audience of more than 500 of energy's leading experts and investors.
SURGE is the leading seed fund and mentor-driven accelerator that identifies, invests in, and enables entrepreneurs who are solving the world's energy problems using technology. SURGE already ranks amongst the world's elite accelerators. In its first two years, SURGE companies raised $25M in funding and created more than 150 jobs. 21 out of 23 companies are still operating. Based in Houston, Texas, "The Energy Capital of the World," SURGE runs an intensive 90 day program in the spring to identify leaders, validate business models, raise capital, and connect companies to customers and the global energy ecosystem. SURGE has recruited over 150 of the world's top scientists, engineers, executives, entrepreneurs, venture capitalists, and angel investors in the energy industry to serve as mentors. For more information, please visit www.surgeaccelerator.com and follow us on twitter: @SURGEAccelerate