(Ridgeland, Miss) – Innovate Mississippi successfully worked with Olive Branch startup company NG1 Technologies to prepare its business plan, pitch for funding and plan strategic alliances with Mississippi manufacturers. As a result, NG1 Technologies participated in and won the 2014 Cleantech Open National Accelerator’s Competition, which is designed for green technology companies. The company first won the Southeast competition and went on to be named the Grand Prize winner in the Cleantech Open National Accelerator.
NG1 Technologies received a substantial financial investment and in-kind services worth $200,000 to help grow the business. This is the largest green technology award a company from Mississippi – or even the Southeast – has received.
The Cleantech Open administers the world’s largest Cleantech accelerator, with the mission to find, fund and foster entrepreneurs with innovative ideas that address today’s urgent energy, environmental and economic challenges. Since 2006, more than 1,000 participating companies in the United States have created thousands of jobs and raised more than $1.1 billion.
The winning invention presented by NG1 Technologies was the NG1 TechFlo exhaust system. Designed for Class 8 or 18-wheeler style trucks, this fuel-saving device increases flow rates of gases or fluids moving through a tube and is designed to adapt as a retrofit exhaust system for large trucks and diesel engines.
The system can reduce an astounding 40,000 pounds of carbon emissions per year, per truck. In addition, the customer is expected to double their financial savings in the first year as the cost of investment is $2,600, and there is an average return of $6,000 to $10,000 per year because of the 10-20 percent fuel savings that the product creates.
The Class 8 truck exhaust is the first NG1 TechFlo product launch, but adaptations for pick-ups, box trucks, and other styles of exhaust are coming soon. The system is adaptable for any fuel and all mechanical piston style engines.
Today, NG1 Technologies is manufacturing the NG1 TechFlo product in Mississippi and is also providing training at multiple independent diesel shop installation locations throughout Mississippi and the Mid-South.
“NG1 TechFlo has a product that customers rave about and that has truly disruptive potential,” said Tony Jeff, president and CEO of Innovate Mississippi. “I’m glad we were able to work with them through the planning process and bring them connections they have been able to capitalize on for so much success.”
“Through key assistance from Innovate Mississippi, the NG1 TechFlo exhaust system is currently being manufactured by Hawkeye Industries and distributed by Williams Distribution, both located in Tupelo, Mississippi,” said Cynthia O’Donnell, chairman of the board of NG1 Technologies. “NG1 TechFlo is proud to be American and Mississippi-made, and we look forward to continuing our business partnership with Innovate Mississippi.”
Contact Cynthia O’Donnell at 941-321-6494 for more information on NG1 Technologies. Visit http://events.cleantechopen.org/globalforum/2014 or http://ng1techflo.com/ for more information on the Cleantech Open.
Innovate Mississippi is a nonprofit organization with the mission to drive innovation and technology-based economic development for the State of Mississippi. Visit www.innovate.ms for more information.
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