Many start-ups, such as HM3 Energy, were started in connection with a government policy initiative. This fact illustrates the enormous opportunities provided by public mandates or funds. However, you need to know about them early enough and you need to know what they mean, and if your product might qualify.
According to HM3 Energy’s founder, Hiroshi Morihara, the start-up was created as a result of the opportunity around an Oregon energy mandate a few years back. The state adopted a Renewable Portfolio Standard (RPS) in 2007 which requires that 25% of Oregon’s electricity come from renewable resources by 2025. As a result, coal plants were challenged.
HM3 Energy has developed a proprietary process to turn biomass into clean fuel to replace coal in coal-fired power plants.
If you are a start-up, you may qualify for CPI’s small business discount and/or the stock compensation program. All we have to do is a quick due diligence.