Things are Starting to Spin at NextPower360
An Update from NextPower360
NextPower360 is hitting its stride, and we want to keep you updated! After years of Dr. Tony Iacovelli conceiving his breakthrough generator and motor innovation, in the summer of 2022, he asked me to join him on a journey to develop and commercialize his technology, and in September of last year, we launched our company.
In just a short time, we have engaged with technical experts, investors, and clean energy business professionals who have given us excellent advice and are cheering for our success. This email missive is our first update to those who may want to track NextPower360’s progress. We will send out short, occasional updates when we have news worth sharing. If you would prefer not to receive these updates in the future, please reply to this email with a request to be removed from our distribution list.
Accomplishments in 2022
Launching a company that we hope will shape two $100-billion industries (wind generation and electric vehicles) is not for the faint of heart. However, we are excited by the generator’s intrinsic efficiency and ability to fill critical gaps in the current technology landscape. We have crafted an ambitious company mission worthy of our innovation’s massive potential, which is to develop and commercialize technology that plays a transformational role in stabilizing the global climate.
In addition to the typical grind of setting up a company and its administrative processes, our accomplishments in 2022 included the following:
Submitted our initial provisional patent
Assembled a Technology Board of Advisors
Secured initial seed funding
Advanced to the second round for consideration by the Breakthrough Energy Fellows program (a billion-dollar investment fund launched by Bill Gates) and made it to the interview stage with Techstars, another well-respected accelerator.
Filed a Letter of Intent to lock in our ability to submit a full federal Small Business Innovation Research (SBIR) grant application (thank you Ivan Urlaub for untangling the SBIR process for us!)
Assembled first proofs of concept that demonstrate a clean, radial magnetic field as anticipated by our design
Explored collaboration with sophisticated energy labs, where we can continue our prototype development work
We have now shifted our focus to iterating prototypes and conducting R&D. To fuel the fire, we will continue to raise capital, apply for grants, and develop partnerships. And, as an ambitious startup can only be successful if it assembles a first-rate team, Tony and I will continue to build out our team of exceptional employees, advisors, and contractors.
The profundity of the climate change challenge can be daunting, and sometimes it is tempting to give up hope. We believe that human ingenuity and market forces can help turn the tide. At NextPower360, we are proud to be part of a global movement of millions of individuals and organizations that are working to help humanity find balance with the environment that sustains us. Let’s make 2023 the year when we restore hope in our capacity to stabilize the climate.
- Michael Shore, CEO, Co-Founder