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Wednesday, February 1, 2023

Southern California Energy Innovation Network Reports Six-Year Impact Numbers


Southern California Energy Innovation Network Reports Six-Year Impact Numbers


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Cleantech San Diego’s Southern California Energy Innovation Network (SCEIN) celebrated its six-year anniversary on July 15. The program has made tremendous accomplishments supporting its member startups, which are advancing breakthrough energy technologies for the benefit of California ratepayers. Below is a summary of the program’s impact to date:

 

Companies: 62 startup companies have been accepted and received customized service plans from SCEIN and its partners. The program is currently supporting an all-time high of 39 active member companies.

 

Capital: Since joining the program, SCEIN member companies have raised $234.5 million in private capital and $65.9 million in public funding for a total of $300.4 million in follow-on funding. XENDEE, South 8 Technologies, Sonocharge, UCAP Power, and Ivy Energy led the private capital raised, and Qubitekk, KIGT, Community Energy Labs, Icarus RT, and TyFast led the public capital raised.

 

ROI: The SCEIN program continues to achieve a more than 50-fold return on investment on the CEC grant funding

 

Jobs: SCEIN startup companies created a record 56 new jobs from organic growth during the first half of 2022. With the addition of HNO Hydrogen Generators, Limelight Steel, Harvest Thermal, and VECKTA, total employment by SCEIN companies is up to 629 jobs.

 

Diversity: 31 of the current 39 SCEIN companies have diverse representation on their C-Suite leadership teams, for an all-time high of 79 percent.

 

CA Recognition: In just the first six months of 2022, SiLi-Ion won the Riverside Angel Summit; ReJoule was the runner-up in the San Diego Angel Conference; Benchmark Labs, Ivy Energy, and ChargeNet were selected as 2022 CONNECT Cool Companies; TyFast and Limelight Steel won Activate Fellowships; Community Energy Labs and Xtelligent won $75,000 Caltech Rocket Fund grants; Kineticurrents was selected for the 2022 Cleantech Open Western cohort; Orianna Bretschger, Sofia Babanova, and Robin Ihnfledt were recognized as San Diego Business Journal Top 50 Women of Influence in Engineering; Jennifer Worrall, An Huang, and Jungwoo Lee were recognized as Top 50 Women of Influence in Technology; and Limelight Steel won the Cleantech San Diego/SCEIN MUFG Union Bank $50,000 Early-Stage Pitch Competition.

 

National/Global Recognition: Helicoid, UCAP Power, and South 8 Technologies won four of the six Outstanding Venture awards at thevNREL Industry Growth Forum. In this year’s Edison Awards for Critical Human Infrastructure, UCAP Power won the bronze award in the Energy Grid and Power Supply category, and Qubitekk won the gold award in the Communications and Cybersecurity category.

 

Strategic Milestones: Statevolt announced a $4 billion EV battery giga-factory in Imperial Valley along with a letter of intent to Controlled Thermal Resources (CTR) for supply of power and battery-grade lithium. CTR also announced that Stellantis (Fiat-Chrysler/PSA) signed a supply agreement for up to 25,000 MT/yr of battery grade lithium hydroxide for their North American EV production.

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