TOLEDO, Ohio, July 29, 2022 /PRNewswire/ -- h2Power Solutions, an energy startup based in Toledo, was nominated as one of three finalists out of 49 applicants in the Northwest Ohio Mspire business incubator competition. The Mspire competition highlights Ohio entrepreneurs while providing access to necessary funding and a platform for increased exposure and awareness.
The Mspire competition for manufacturing-focused entrepreneurs in Northwest Ohio is held in partnership with the Manufacturing Growth and Advocacy Network (MAGNET), based in the Cleveland Area. Though this is the Toledo area's first Mspire event, several have been held in Cleveland in partnership with MAGNET.
Over the last several years the competition has rewarded millions of dollars in entrepreneurial grants and development funding. The focus is on supporting entrepreneurs, creators, and small manufacturers who have innovative ideas to advance technologies and manufacturing throughout Ohio. As a result of the success of this competition, MAGNET plans on holding annual events in Toledo in addition to their Cleveland events.
Toledo-based h2Power Solutions was one of three finalists out of 49 submitted applications across nearly 20 different Ohio counties. Their SOFC hydrogen fuel cell power provides clean, low-cost, high-efficiency power utilizing natural gas or biofuels. h2Power Solutions' compact systems easily tie into existing energy systems and provide both electrical and thermal energy at a fraction of the cost of traditional energy generator systems.
"The Mspire competition is a huge step in continued market penetration, helping us reach an audience that is actively engaged in new sources of energy production." shared Greg Whitlow, h2Power Solutions' CEO. "h2Power Solutions is deeply grateful for the opportunity to compete and for the recognition that the Mspire event brought, not only to our company but to other entrepreneurs throughout Northwest Ohio. We must continue to support and encourage business growth and investment in the region, and h2Power is excited to be a significant part of that growth. We believe that our fuel cell technology represents one of the cleanest, most efficient options coming to the market, and could provide a huge boost in reducing reliance on the existing energy grid."
h2Power Solutions has been focused on developing its technology for the rural market, particularly agribusiness and individual farmers. The ability to convert biomass into green hydrogen, a direct fuel source for the fuel cells, allows farmers to easily turn agricultural waste into both electric and thermal energy. Extensive grants and federal funding have been made available to support high-efficiency energy production like h2Power Solutions' fuel cells.
For more information visit https://h2powersolutions.us/
SOURCE h2Power Solutions