SAN DIEGO — May 17, 2020 — The Shell GameChanger AcceleratorTMPowered by NREL (GCxN) announced that Icarus RT is one of three new startups to participate in the program following a multistage competitive evaluation. GCxN provides promising cleantech startups with technical resources to accelerate product commercialization while de-risking investment.
Icarus RT and the other startups represent the program’s third cohort, and are focused on enabling more efficient and effective solar and storage solutions. “We are now able to share with fans of renewable energy and friends of Icarus that we are working with Shell and NREL, which is a huge endorsement validating our team’s work,” said Mark Anderson, CEO of Icarus RT. “We appreciate the opportunity to work with Shell and NREL in this program to open new doors for our company in terms of funding, manufacturing, and commercial launch. Their support provides the resources needed to validate our technology for investors and others by demonstrating that Icarus technology meets the expectations we promote.”
Over the past decade, solar deployments in the United States have increased by an average of 48 percent each year. The energy storage market is on a similar trajectory, nearly doubling in size in 2018 with similar expectations for final 2019 numbers, and startups can help to maintain the momentum of the clean energy transition.
“Icarus’s aim to create a hybrid solar-thermal photovoltaic system that stores and uses leftover ‘waste heat’ from solar panels could significantly increase power output per panel and lower overall cost per kilowatt,” said Haibin Xu, GCxN program manager at Shell. “Shell is excited to be part of their journey into technology commercialization and market adoption.”
Aspiring GCxN startups are nominated by Channel Partners—a network of 63 cleantech incubators, accelerators and universities—before undergoing in-depth review by Shell and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL). Once in the program, companies receive up to $250,000 in non-dilutive funding with the opportunity for future follow-on funding, benefit from NREL’s state-of-the-art research capabilities, and have support from Shell and the group of cross-industry Channel Partners.
For more information about the program and participating startups, visit GCxNREL.com.
About Icarus RT
In 2016, Icarus RT was founded in San Diego to develop a hybrid solar thermal PV system to extract and collect waste heat while cooling solar panels and storing the heat to make power on demand (i.e. after sunset). Current solar has extreme power losses converting about only 21% into electricity whereas Icarus RT’s award-winning proprietary technology breaks through the 21% efficiency limit, significantly increasing power output, adding energy storage, and lowering the overall cost per kilowatt for Solar Plus Storage systems. This results in increased panel life, panel performance, power per square foot, and energy storage. Explore more on our website https://icarusrt.comand find us on Facebook or Instagram @icarusrtinc.
The Shell GameChanger AcceleratorTMpowered by NREL (GCxN) is a multi-million dollar, multi-year program developed in collaboration between Shell GameChanger and the U.S. Department of Energy’s National Renewable Energy Laboratory (NREL) to discover and advance emerging clean technologies with the potential to dramatically alter the future global energy landscape. GCxN identifies promising startup companies through an ecosystem of more than 60 cleantech business incubators, accelerators and universities, providing access to up to $250,000 in non-dilutive funding in the form of technical experts to develop and demonstrate new energy technologies. GCxN is made possible by funding through Shell GameChanger. GCxN is administered by NREL, located in Golden, Colo.