Portland electric-car start-up Green Lite Motors is one of three winners in a new business plan competition focused on Pacific Northwest clean technology companies.
Green Lite is developing a three-wheeled, enclosed, gas-electric hybrid vehicle capable of getting 100 miles per gallon.
It was one of 56 entrants in consideration for the Pacific Northwest Clean Tech Open competition vying for a $50,000 prize and the chance to move up to the national competition next month in San Francisco. The winner of the national event receives $250,000 in cash and services.
The two other winners of the regional competition come from Seattle: Hyrdrovolts, which is developing turbines to generate renewable energy from water without the need for dams; and LivinGreen Materials, which is developing a product called AggraLight to sell to solar manufacturers to boost solar cell efficiency by 50 percent and reduce the cost per watt.
The 10 semi-finalists in the event spent the summer receiving hands-on mentoring from local and national business leaders in an effort to hone their plans.
Each company was judged by a group of venture capitalists, angel investors and other business professionals based on both the scientific viability of the concepts and the ability to make it a commercial success.
Taken from Portland Business JournalPortland
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