Empire Technology Prize: Opportunity for Heat Pump Developers to Aquire $10 Million

Heating of New York’s buildings account for a major part of the City’s and the State’s greenhouse gas emissions. In a reach to lower those and tackle the problem with the climate crisis Empire Technology Prize in now seeking innovators to develop and/or demonstrate centralized clean heating or distribution solutions. Register your intent to apply by March 15, 2024 and submit full application by March 22, 2024.

Heat pumps are a great solution for decarbonizing building heat, however existing technologies can be difficult to integrate into New York State’s buildings. Therefor New York needs new solutions that can avoid expensive and disruptive installation. The solutions sought for are centralized electric heat pumps, capable of generating steam or high temperature hot water and distribution system solutions that make it easier to adopt existing centralized heat pumps without the need to remove existing distribution systems. The Prize is a opportunity for companies, innovators and developers in heat pumping technologies around the world to seek new markets in New York, USA.

Attend webinar to learn more

To share information about the prize and the application process a webinar, cohosted by Swedish Energy Agency will be held January 22, 2024 at 9am ET/2pm GMT/3pm CET. The webinar is open to companies from around the world, interested in doing business in New York. Hear directly from the Prize administrators about the program design, timelines, and the solutions they hope to catalyze. Click here to register>

Capital and connections await the finalists

In New York there are 137,000 residential and commercial buildings 7+ stories, covering 1.4 billion square feet, in which the solutions could operate. And these building owners and operators are hungry for a more diverse set of solutions that make decarbonization easier and more affordable.

Finalists will be eligible for up to $1 million each in prize money and will have the opportunity to work with prize partners such as Columbia University, Empire State Realty Trust, Fairstead, L+M Development Partners, New York City Housing Authority, Rudin, Tishman Speyer, and Vornado to discuss deployment opportunities. Finalists will also have access to a $2 million Demonstration Fund to offset the capital or installation cost of deploying in a NY building. The winner will receive an additional $1 million prize.

The Empire Technology Prize is a $10 million program to develop and demonstrate novel solutions for decarbonizing the heating load of New York’s tall buildings. The Prize was launched by New York Governor Kathy Hochul, is sponsored by the New York State Energy Research and Development Authority (NYSERDA) and Wells Fargo, and administered by The Clean Fight and RMI. The Empire Technology Prize is open to all incorporated companies worldwide with 2+ employees—from early stage startups to large corporations.

Learn more about the Empire Technology Prize and apply here>