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Economy and Business

Echogen wins Nortech Award
Akron company named an innovator in advanced energy

Kabir Bhatia
In The Region:

On Thursday, Akron-based Echogen Power won a 2011 Innovation Award from NorTech and Crain’s Cleveland Business, recognizing its work on systems to turn heat from manufacturing into power.

The award came on the same day that Houston-based energy company Dresser-Rand bought a 20 percent stake in the start-up Echogen for $10 million.

VP of business development Michael Persichilli says Echogen is ready to go to market.

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"We’ve gone from concept to a commercial-sized demonstration in less than three years, and now with this partnership with Dresser, we’ll be able to materialize a multi-megawatt heat engine in a commercial environment…”

Those commercial engines would not be possible without specialized components designed and constructed by Dresser-Rand.   Echogen sprang from the Akron Global Business Accelerator in April 2007 and Persichilli says he expects the company to remain in Akron.

The other Northeast Ohio Innovation Award winners were Aeroclay (providing extremely light weight materials) AllTech Medical Systems America (high-performance MRI systems), Ashlawn Energy (vanadium redox batteries), Kent Displays (Boogie Board LCD tablet), MAR Systems (processes to remove mercury, arsenic and other heavy metals from industrial water streams), RTI International Metals (casting method for titanium ingots), The University of Akron (ultrasonic rubber devulcanization technology) and VasoStar Inc. (a vibrational guidewire system for crossing chronic lesions).

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