Atargis has been awarded an Early-Stage Capital and Retention grant through the Colorado Office of Economic Development and International Trade (OEDIT) Advanced Industries Accelerator program. This funding will help further the development of the Cycloidal Wave Energy Converter (CycWEC).
“Securing this funding marks not only a milestone in advancing our technology but also signifies invaluable support for our business development endeavors. At Atargis, while our foundation lies in technological innovation, we are thrilled to embark on expanding our business development initiatives and team," expressed Dr. Stefan Siegel, Chief Technology Officer.
The Early-Stage Capital and Retention grant supports businesses commercializing innovative and disruptive technologies in the advanced industries that will be created or manufactured in Colorado. These grants help promote the growth and sustainability of advanced industries across the state by driving innovation and commercialization that move this vital part of the Colorado economy forward.
Atargis Energy Corporation was awarded $500,000 to test at 1:15 scale model of the CycWEC in a wave tank. This grant, in tandem with other funding sources, supports a 24-month wave tank testing campaign that kicked off this April. This campaign will propel the CycWEC Technology from Technology Readiness Level 4 to TRL6, marking a substantial leap forward in its development journey.
“Across the state, companies are rethinking existing technologies and inventing new ones within the advanced industries sector. Their success will create good-paying jobs in Colorado and has the potential to change lives across the state and beyond. We are thrilled to be able to support their development and look forward to celebrating future accomplishments,” said Rama Haris, Advanced Industries Senior Manager at OEDIT.
