SunPath’s renewable sunlight indoors patented tech, for controlled environment Ag, has been chosen by the Cohort 417 Program of Third Derivative.
MIAMI, FLORIDA, UNITED STATES, December 8, 2020 /EINPresswire.com/ — For Immediate Release
December 8, 2020
SunPath Selected to Inaugural Class of World’s Largest
Climate Tech Innovation Cohort
SunPath, with preemptive technology that brings the power of renewable sunlight indoors through rooftop sun collection panels and fiber optic cables, has been selected to join the Cohort 417 program of Third Derivative (D3), the global vertically integrated engine for climate innovation. Of 620 startups from 61 countries and 6 continents that applied for the potential of venture funding and support from D3 sponsors, SunPath, for its proven technology to increase Controlled Environment Agriculture crop yield while lowering energy usage and production costs, was one of the final 50 companies chosen.
“Both sustainable crop production and sustainable energy production are critical technologies to meet the 21st century challenges of population growth and climate change,” said Joseph DiMasi, CEO of SunPath. “We are pleased to join the D3 inaugural Cohort to fulfill the organization’s mission of assisting the most promising advanced energy technologies to achieve larger, faster reductions in carbon emissions.”
SunPath’s patented collection and fiber optic technologies deliver up to 10x the energy of PV solar panels driving LEDs, a breakthrough that has received millions in funding from the US Department of Energy and angel investors. The company’s Sunlight as a Service business model, contrasts the limits of the LED lighting and price-performance with the SunPath Sunshine Inside Platform™.
Sunpath also announced that they’re closing their Seed round with an open balance of $1 million for final development of the Gen5 system and beginning a Series A round in Q1 2021 for $5 million to fully commercialize the technology.
About SunPath – SunPath is one of two companies founded by Jospeph DiMasi that has received large federal grants for advanced optical technologies. The companies specialize in the advancement of deploying technologies revolutionizing indoor lighting efficiency with fiberoptic daylighting to support a clean energy future. Contact Erin Geegan-Sharp; – ESharp@SunPathTech.com
About Third Derivative (D3) – Fulfilling its mission as a global engine for climate change, D3 brings startups, investors, corporations, and market, regulatory, and policy insights into the same program, working closely together to increase the success and speed to market for climate innovation. Cohort 417 spans hardware, software, business model and finance innovation representing the world’s major GHC-emitting sectors of the economy brought together to rise together to meet the size and urgency of the climate crisis. Contact D3 at: www.third-derivative.org/contactus/
About Highway 33 Capital Advisory – With offices in Miami, Denver, Detroit and San Francisco Highway 33 Capital is a professional advisory firm for Mergers and Acquisitions, buy-side/sell-side agreements, capital formation, value creation, growth and pre-IPO strategies for investors and for vetted operators throughout the supply chain – biotech firms, cultivators, manufacturers/processors, retailers, testing labs, etc. For information contact firstname.lastname@example.org
1.800.684.9238 ext. 700