Vartega awarded the Cleantech Open National Emerging Technology Award

SAN FRANCISCO, Nov. 25, 2015 /PRNewswire/ -- The Cleantech Open announced Vartega Carbon Fiber Recycling LLC (www.vartega.com) as the recipient of the National Emerging Technology Award at its 2015 Global Forum at Herbst Theatre on November 19th. 

Over 200 cleantech startup companies applied this year to participate in the Cleantech Open US Accelerator and for a chance to compete on the national stage for the Cleantech Open's Grand Prize Award.  Nineteen of the best and brightest startups were selected from a field of over 100 companies across eight US regions to compete at the national level. Vartega was one of six companies chosen as a grand prize national finalist at this year's Global Forum in Redwood City, CA, and ultimately named the winner of the Emerging Technology Award. Tank Utility, of Boston, MA, took home the Grand Prize of over $200,000 in funding and in-kind services.

"Vartega is extremely honored to have been named as a Cleantech Open Wildcard Grand Prize National Finalist and to receive the National Emerging Technology Award," said Andrew Maxey, President & CEO of Vartega Carbon Fiber Recycling. "The Cleantech Open has been an incredible program, and all of the volunteers and mentors have been amazing. The award we received is a testament to the Cleantech Open's dedication to find, foster, and fund truly innovative clean technology. We're grateful for their support of early stage companies such as ours."

In addition to Vartega and Tank Utility, the other grand prize national finalists were Allumia, Evervest, Nano Hydrophobics, and Smart Charge.  "It is truly inspiring to see the innovation and dedication put forth by the individuals representingeach of these companies.  I would like to send along my congratulations to each of them as well as to the other companies chosen to compete in this year's Cleantech Open Accelerator," said Maxey after being awarded this year's Emerging Technology Award. "I would also like to extend a special thanks to all of those who have mentored and advised us over the last several months."

Richard Franklin, Cleantech Open Chairman of the Board, had this to say of Vartega's award, "We are extremely proud that a COLORADO company won the prestigious emerging technology award. This reflects our judges' collective decision that their technology is poised for major impact in the future. Cleantech Open would like to congratulate Andrew and the team on a job well done."

ABOUT VARTEGA CARBON FIBER RECYCLING
Vartega Carbon Fiber Recycling LLC is a recycler of advanced materials – specifically strong and lightweight carbon fiber – used in the aerospace, automotive, wind energy, and sporting goods industries. Founded in July 2014, Vartega has grown to a team of four and has developed patent pending recycling technology to address the 15,000 metric tonnes of carbon fiber waste that is being landfilled and incinerated every year. Vartega's technology uses a low energy chemistry-based process to free carbon fiber filaments for use in carbon fiber nonwoven fabrics, yarns, thermoplastic pellets, and 3D printing filaments. Materials utilizing Vartega's low-cost recycled carbon fiber can be used to lightweight automobiles resulting in improved fuel economy and reduced emissions. Vartega plans to divert 1000s of tonnes of carbon fiber waste from landfill and incineration over the next several years. For more information, visit www.vartega.com.

ABOUT THE CLEANTECH OPEN
The Cleantech Open is the world's largest cleantech accelerator. Its mission is to find, fund and foster entrepreneurs with big ideas that address today's most urgent energy, environmental and economic challenges. A 501(c)(3) not-for-profit organization, the Cleantech Open provides the infrastructure, expertise and strategic relationships that turn innovative technologies and ideas into successful cleantech companies. Since 2005, upwards of 1,000 startups have participated in its annual accelerator and mentorship program in the United States alone. Of these, roughly 70 percent are still active today: these cleantech startups have collectively raised a total of more than $1.2 billion and created thousands of jobs. In 2014, the Cleantech Open expanded the reach of its acceleration program beyond the United States through the Global Cleantech Innovation Program (GCIP): a joint program of the Global Environment Facility (GEF), the United Nations Industrial Development Organization (UNIDO) and the Cleantech Open. In addition, the Cleantech Open runs the annual Global Ideas competition in collaboration with Global Entrepreneurship Week (GEW). This program showcases the most promising clean-technology ideas across the planet and has included entrepreneurs from 43 countries. Fueled by an expanding global network of more than 2,000 volunteers and sponsors, the Cleantech Open unites the public and private sectors in a shared vision for making the cleantech sectors a thriving economic engine around the world. For more information, visit www.cleantechopen.org, or follow us on @cleantechopen and Facebook.

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SOURCE Vartega Carbon Fiber Recycling LLC

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