CHICAGO, Sept. 14, 2022 /PRNewswire/
— infiniRel received a significant investment in their renewable energy startup from American Wire Group (AWG), the nation’s leading supplier of cable and wire products for renewable energy and electrical utilities. A portion of the investment was designated for infiniRel’s Wefunder Campaign bringing that raise to $126,850 to date.
infiniRel is part of mHUB’s Climate and EnergyTech Accelerator for startups and is developing preventive diagnostics to improve the output, efficiency, and reliability of power electronics (inverters) at renewable energy plants.
infiniRel and American Wire Group (AWG) are working together to increase the reliability of the grid and prevent blackouts. AWG made a significant investment into infiniRel, a startup in Chicago’s mHUB Climate and EnergyTech Accelerator. Above, Joshua Dorfman, President of AWG, and Bert Wank, Founder and CEO of infiniRel, shake hands. Both companies will be participating in RE+, North America’s largest event for the clean energy industry at the Anaheim Convention Center in CA next week.
Joshua Dorfman, President of AWG, said, “The output of inverters, that infiniRel safeguards, travels through AWG’s cables to utilities to power our homes and charge our EVs. infiniRel’s revolutionary technology will increase this output at existing renewable energy plants. Increasing the reliability of the grid and preventing blackouts is the shared mission of our two companies. Our investment is one part of the important relationship we are building with infiniRel.”
Bert Wank, CEO at infiniRel, agreed, “Increasing the reliability and profitability of renewable energy plants is good for both of our businesses and for our world. AWG’s extensive manufacturing expertise, and vendor and customer relationships in the renewable energy sector, will benefit our product development cycle and give us better market access. AWG have been in the renewable energy sector for over 20 years and understand the scope of the problem our technology solves.”
infiniRel is based in Santa Cruz, California. Wank is at mHUB in Chicago until December to participate the hands-on accelerator focused on hardtech product development and commercialization. infiniRel was one eight teams chosen from hundreds of global applicants to work with mHUB’s state-of-the-art facilities for prototyping, product development and to connect with influential investors. The accelerator program includes a $175,000 investment.