Nuventix, Austin Texas, creator of SynJet thermal management technology, has been named an Innovation Award Winner for phase II of GE's $200 million open innovation challenge, which recognizes products and ideas that improve energy efficiency in the home. As a challenge winner, Nuventix has been offered the opportunity to develop a commercial relationship with GE, including exploring investment opportunities, distribution partnership opportunities and development assistance with GE Global Research Centers.
Nuventix was one of 15 companies selected from more than 5,000 ideas submitted by companies from around the world for phase II of GE's ecomagination Challenge. The Nuventix SynJet was selected by the challenge's panel of judges for its innovation and contributions to improving the energy efficiency and increasing the lifespan of LED bulbs and other electronic products.
Nuventix's SynJet modules are currently utilized by several LED lighting manufacturers to cool high-brightness LED lights. SynJet technology is quiet, flexible and allows designers and manufacturers to build energy-efficient lighting solutions without thermal constraints. In addition to reducing energy consumption, SynJet technology also ensures LED light engines run brighter and longer (up to 100,000 hours), while providing end users with better-quality, longer-lasting and more cost-efficient lamps and fixtures.
“To be distinguished by GE as a technology that is going to improve our energy future is a great acknowledgement of SynJet's capabilities,” said Jim Balthazar, CEO and president of Nuventix. “Nuventix SynJet thermal management technology is the only solution that offers high-reliability, flexible, energy-efficient cooling for LED lighting and other electronics. The GE Ecomagination award is just another proof point of how SynJet technology is making lighting more energy-efficient and accelerating the adoption of LEDs for general lighting.”
Judging for the GE Ecomagination Challenge was conducted by a panel of experts including individuals from GE's business units, representatives from academia, venture capital firms, government research firms and others. Launched on July 13, 2010, the GE Ecomagination Challenge is a $200 million open innovation challenge to uncover ideas to create smarter, cleaner, more energy-efficient technology to improve our energy future. Said Mark Vachon, vice president, Ecomagination, “The Challenge is now an established platform at GE. Looking ahead, we'll continue to accelerate growth through new partnerships and an additional commitment of $20 million to fund commercial pilots with innovators we have found through the Challenge. The Challenge has also changed how we do business at GE. We learned that accelerating open innovation across public, private and national borders can drive shared value for the company and its partners.”