Program Seeks Participants to Drive Technological Growth in Industry
New York, January 23, 2024 – The Offshore Wind Innovation Hub today announced the opening of its 2024 application process, designed to identify and support entrepreneurial and innovative companies that will help unleash the potential of the dynamic new offshore wind industry.
Winners participate in a six-month mentoring and business development program designed to prepare them to partner with major offshore wind developers and be part of the larger offshore wind value chain.
Applications will be accepted until March 25, 2024. Through a highly competitive selection process, applicants will have to showcase the potential and economic impact of their innovation. Finalists from the initial pool of applicants will be invited to participate in a public pitch event in New York before a panel of judges drawn from academia, business, and government.
Launched in January 2023, the Offshore Wind Innovation Hub is led by Equinor and bp in collaboration with Urban Future Lab at NYU Tandon School of Engineering, and National Offshore Wind R&D Consortium (NOWRDC). Supported by the New York City Economic Development Corporation (NYCEDC), the New York City-based Innovation Hub seeks to advance an inclusive supply chain and accelerate New York’s local green economy.
“The Offshore Wind Innovation Hub showcases the entrepreneurship, technological prowess and creativity that has driven the growth of our industry from the beginning,” said Molly Morris, President, Equinor Renewables Americas. “Innovators, academia, and industry collaborate to identify inventive solutions that can enhance the safety, sustainability, and cost-effectiveness of offshore wind. This unique opportunity shows what we can achieve when we nurture new ideas, and it’s all happening right here in New York.”
“As with the first round of awards, in this year’s round the Hub seeks to harness the power of innovation and local community partnerships to overcome challenges, to build a stronger offshore wind ecosystem and to unlock the full potential of industry and community collaborations,” said Joshua Weinstein, bp’s president of offshore wind Americas. “Together, we can nurture the ambitions of community organizations and innovators to launch their solutions into the market, where they can help offshore wind advance and thrive.”
Doreen M. Harris, CEO and President, NYSERDA said, “As the offshore wind industry continues to grow and evolve, we need innovative thinkers and doers to bring their energy and expertise into the field. Equinor and bp’s Offshore Wind Innovation Hub is an exciting initiative because it invests in local talent and industry, fortifying this foundation we’re all working together to build, with the City at its epicenter.”
“New York City is dedicated to supporting and investing in future-focused sectors, like offshore wind, that are poised to power the City’s economy, spark cutting-edge innovation, while building a more inclusive future for New Yorkers,” said New York City Economic Development Corporation (NYCEDC) Chief Operating Officer Melissa Román Burch. “We are thrilled to work with Equinor, bp, NYU’s Urban Future Lab, and NOWRDC, on continuing the Offshore Wind Innovation Hub for a second cohort and advance a diverse startup ecosystem while accelerating the development of New York City’s growing offshore wind industry.”
“The Offshore Wind Innovation Hub has established a distinctive ecosystem to foster New York City’s growth in the offshore wind industry. We are excited to continue our partnership in this initiative and support cutting-edge technologies in this rapidly growing sector. We look forward to working with the next cohort of innovators and our partners,” said Lyndie Hice-Dunton, Executive Director, NOWRDC.
Last year’s inaugural Innovation Hub cohort of six companies was chosen from among 50 accelerator applicants. This year, the Offshore Wind Innovation Hub is seeking technologies within wind power and site characterization, project and port development, installation, construction, transmission, operations, and maintenance. These topics have been selected as critical areas of innovation to improve offshore wind project economics in the US.
Selected companies then participate in a rigorous accelerator program, in which they receive scale-up support, bespoke business development assistance, industry mentorship, access to expert workshops, tenantship at the Offshore Wind Innovation Hub in Brooklyn, and exclusive network access.
Last year’s cohort, consisting of Benchmark Labs, Flucto, Heerema Engineering Solutions, OSC, RCAM Technologies, and VinciVR, showcased exceptional achievements during the program which include securing new contracts, company establishment in New York, testing and validating novel technology, strengthening product value proposition, and forming critical partnerships.
“Through the program, we’ve been able to form partnerships with both the Empire Wind and Equinor team, as well as local trade organizations, the City University of New York, and Stony Brook University. We were also a recipient of the Equinor Workforce Development Grant,” said Eagle Wu Founder and CEO of VinciVR.
“Our participation in the Urban Future Lab’s Offshore Wind Innovation Hub has been instrumental in propelling RCAM towards an exciting potential expansion into New York,” said Jason Cotrell, Founder and CEO of RCAM Technologies. “The Hub has provided access to critical resources, expertise, and key industry contacts for this expansion and for continued development of our offshore wind products.”
“We are incredibly excited to open up this 2024 Call of Innovators and continue scaling the most promising new solutions out there. By leveraging the expertise of all the program partners we are proud to deliver a program that is truly impactful for the cohort companies and the offshore wind ecosystem.”, said Tone Søndergaard, Director of the Offshore Wind Innovation with Urban Future Lab at NYU Tandon.
“Drawing from the achievements of the first cohort of the Offshore Wind Innovation Hub, we are excited to announce the commencement of applications for the second year,” said Frederic Clerc, Interim Managing Director at Urban Future Lab. “As part of NYU Tandon’s Sustainable Engineering Initiative, we will continue to provide substantial hands-on startup support expertise to this program and an extensive network of ecosystem partners.”
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About the Offshore Wind Innovation Hub (OWIH)
Catalyzing startups to unleash the potential of offshore wind in New York. We leverage our New York City hub to grow the US offshore wind industry by harnessing the entrepreneurial powers of both global industry-leading startups and the local community. Our innovative programming and strong networks connecting innovators, local partners, investors, and industry will foster demonstration opportunities, safety awareness, knowledge transfer, innovation, and job creation. Through collaborative partnerships, we accelerate the local development of new technologies for the national offshore wind industry, to facilitate cost-efficiency gains. Our commitment to diversity and equity will advance inclusive supply chain and business development and accelerate the green economy in New York. For more information, visit https://www.offshorewindnyc.com/.
About Empire Wind and Beacon Wind
Empire Wind and Beacon Wind are being developed through a 50-50 partnership between Equinor and bp. The projects have the potential to provide New York State with approximately 3.3 gigawatts (GWs) of energy upon completion — enough to power nearly two million homes.
About Equinor
Equinor is one of the largest offshore wind developers in the world. Its work in the United States includes operating two lease areas off New York, Empire Wind and Beacon Wind. Equinor is also developing Atlas Wind off the coast of California. The United States is an attractive growth market for Equinor, with an ambition to install 12-16 GW of renewables capacity globally by 2030. www.equinor.com/NY
About bp
bp’s ambition is to become a net zero company by 2050 or sooner, and to help the world get to net zero. bp has a larger economic footprint in the United States than anywhere else in the world, investing more than $145 billion since 2005 and supporting more than 275,000 jobs. For more information on bp in the US, visit www.bp.com/us.
About the National Offshore Wind Research and Development Consortium (NOWRDC)
The National Offshore Wind Research and Development Consortium, established in 2018, is a not-for-profit public-private partnership focused on advancing offshore wind technology in the United States through high-impact research projects and cost-effective and responsible development to maximize economic benefits. Funding for the Consortium comes from the U.S. Department of Energy and the New York State Energy Research and Development Authority (NYSERDA), as well as contributions from the Commonwealths of Virginia and Massachusetts and the States of Maryland, Maine, New Jersey, and California. For more information, please visit nationaloffshorewind.org.
About New York City Economic Development Corporation (NYCEDC)
New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city’s future economy. To learn more about what we do, visit us on Facebook, Twitter, LinkedIn, and Instagram.
About the Urban Future Lab at the NYU Tandon School of Engineering
The Urban Future Lab (UFL) (ufl.nyc) at NYU Tandon School of Engineering is New York City’s premier innovation hub for smart cities, the smart grid, and clean energy. As an integral part of Tandon’s Sustainable Engineering Initiative and NYU Tandon Future Labs network, the UFL is home to programs focused on policy, education, and market solutions for the green economy including the Offshore Wind Innovation Hub.
