CHICAGO, April 9, 2013 (GLOBE NEWSWIRE) -- The Chicago Lakeside Development, a joint venture of McCaffery Interests and U.S. Steel Corporation, presented early-stage startup SmarterShade with the inaugural Lakeside Award for clean-tech innovation and commercialization at the third annual Clean Energy Challenge in Chicago. The award comes in the form of a $50,000 grant to be used by SmarterShade, enabling further research, application and execution of their go-to-market strategy.
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Seventeen finalist teams assembled in Chicago at the Clean Energy Challenge to present their ideas to a diverse panel of venture capitalists, energy executives and technology experts for significant funding opportunities. Previous Challenge finalists have raised more than $30 million in funding, hired dozens of employees and deployed clean-tech pilot projects across the Midwest.
"The Challenge is designed to uncover the very best in clean energy technology startups and kickstart their development," said Clean Energy Trust executive director, Amy Francetic. "These prizes will help these entrepreneurs to move their technologies out of the laboratory and into the marketplace, helping the nation to continue to grow its burgeoning clean energy economy."
SmarterShade, a company based in South Bend Indiana, developed a patented film based daylight management platform that enables any window to go from clear to dark with the touch of a button for light, heat and privacy control. The innovative technology can be applied as both a retrofit or new-construction solution, and results in energy efficiency gains of up to 40 percent.
"This award targets solutions that complement the Chicago Lakeside vision for new concepts in the development of clean, sustainable sources of energy, water and waste," said Ed Woodbury, President of McCaffery Interests. "The SmarterShade solution provides an actionable technology that integrates with and can be readily deployed at Lakeside."
"Windows have traditionally been the weakest link in the building envelope in terms of energy efficiency," according to SmarterShade CEO, Mike Stacey. "Traditional window treatments re-radiate heat into a room and have little to no impact on solar heat gain. According to the DOE, 'Smartglass' or dynamic glazing solutions can save as much as $10 Billion annually on heating, cooling, and lighting costs."
The third annual Clean Energy Challenge was hosted by the Clean Energy Trust, a Chicago-based public-private partnership created to accelerate the development of Midwest clean energy businesses by connecting entrepreneurs, researchers and early stage companies with the expertise and capital needed to become sustainable. In total, the Clean Energy Challenge awarded $300,000 in cash awards to student-led and early stage startup ventures to fund further research in several exciting energy technologies. Clean Energy Trust is also a member of the Chicago Lakeside Development.
About Chicago Lakeside Development:
Chicago Lakeside Development is a joint venture between U.S. Steel Corporation and McCaffery Interests, Inc. Chicago Lakeside Development is a global initiative for innovative living, with a strong focus on sustainable land development and community involvement. The development itself is a master-planned, nearly 600-acre mixed-use community located on the former U.S. Steel South Works site on the southeast lakefront in Chicago. The master plan is designed by Skidmore, Owings and Merrill LLP (SOM) in conjunction with Sasaki Associates and Antunovich Associates. Working closely with Mayor Rahm Emmanuel, Chicago Lakeside will be one of the largest public-private partnerships in the history of the city upon completion. With both public and private support, Chicago Lakeside is poised to revolutionize urban living in the 21st century. For more information, please visit www.chicagolakesidedevelopment.com or follow the project on Facebook.
About McCaffery Interests, Inc.:
McCaffery Interests, Inc., is a privately owned, full-service commercial real estate company that has been in the business of investing, developing, leasing and managing real estate for more than 20 years. The McCaffery Interests portfolio of planned, completed and managed projects exceeds 20 million square feet and includes office, mixed-use, hotel, and residential properties, as well as large, master-planned communities and land developments. With offices in Chicago, IL and Washington, DC, and controlled assets and completed developments across the country, McCaffery Interests is one of the most trusted real estate companies in the nation. For more information, please visit www.mccafferyinterests.com or call (312) 944-3777.
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About Clean Energy Trust:
Clean Energy Trust was founded by prominent civic and business leaders to accelerate the pace of clean energy innovations in the Midwest region. CET offers business development support to clean energy start-ups. Sector experts provide feedback, expertise, and develop strategies for the best path to commercialization and market growth. The most promising technologies are eligible for financial assistance in the form of grants, loans, and equity. The Clean Energy Trust leverages its strategic relationships to support the broader mission of education and advocacy related to the adoption and advancement of clean energy technology.
CONTACT: Nasutsa Mabwa | Project Manager of Development McCaffery Interests, Inc. | (312) 944-3777 email@example.com
Source: McCaffery Interests