Topspin Partners is a private equity firm that focuses on control investments in lower middle-market companies with $2 million to $10 million of EBITDA. They seek to acquire companies that are both defensible and differentiated – that is, (1) the business has characteristics that enable it to compete in the marketplace other than by simply lowering price and (2) its products or services provide a different and, in many cases, unique approach to addressing an existing market need. Topspin was founded on Long Island in 2000 by Leo Guthart, who ran Ademco for 36 years, one of the largest manufacturers and distributors of security alarm products, and Jim Simons, a preeminent quantitative hedge fund manager and founder of Renaissance Technologies.
Long Island Angel Network (LIAN) provides access to seed-stage funding for start-ups and early-stage businesses having or willing to make a Long Island home. They provide means for its members – who are accredited investors – to evaluate, exchange information, and participate in investment opportunities. In the past four years alone, LIAN has reviewed 600+ applications for financing from start-up ventures and early-stage companies located on Long Island or potentially willing to relocate to the region; six investments have been closed since 2009. The closed investments, as well as those that have attracted interest, characterize the overwhelming majority of deals reviewed by LIAN. They are typically in Web-based and information technologies, medical diagnostics, and cleantech sectors.
New York State Energy Research & Development Authority (NYSERDA) provided ThermoLift with $482,000 of grant funding through the Advanced Buildings Program. They are focused on supporting companies based in New York with development and manufacturing.
Stony Brook University provides valuable resources including the experience of their distinguished faculty in thermodynamics, mechanical engineering, and materials science. Together, ThermoLift is working to address the critical technical aspects of combustion, heat transfer, and mechatronic design and control.
U.S. Department of Energy (DOE) provided ThermoLift with $750,000 of grant funding through the Building Energy Efficiency Frontiers and Innovation Technologies (BENEFIT) Program. The DOE is a strong advocate of development and commercialization of this technology.
National Grid provided a support letter and cost share for ThermoLift’s successful DOE grant proposal. They have worked with our engineers on data collection and analysis, as well as gave general advisement relevant to their Energy Efficiency program.
Gas Technology Institute (GTI) provided a support letter for commercialization of ThermoLift’s natural gas driven heating and air conditioning system. Currently, they are developing a Statement of Work for collaboration on prototype projects for combustion and high temperature materials.
Linamar is a publicly traded manufacturing company which operates worldwide. It is Canada’s second-largest automobile parts HVAC manufacturer, valued at a $8 billion company. Linamar manufactures and supplies automotive and industrial markets with factories across North America, Europe, and Asia.
Composite Prototyping Center (CPC) provided a support letter and a proposed Statement of Work for the development and incorporation of composite materials into the ThermoLift prototype to decrease cost and weight, and improve durability and manufacturability.
Advanced Energy Research and Technology Center (AERTC) is home to ThermoLift’s New York office. The Center’s mission is innovative energy research, education and technology deployment with a focus on efficiency, conservation, renewable energy, and nanotechnology applications for new and novel sources of energy.
European Heat Pump Association (EHPA) represents the majority of the European heat pump industry. Its key goal is to promote awareness and proper deployment of heat pump technology in the European market for residential, commercial, and industrial applications.
Clean Energy Business Incubator Program (CEBIP) provides assistance and resources for developers of renewable and clean energy technologies. By mentoring entrepreneurs, CEBIP helps them establish successful enterprises to bring their technologies to market.
Petro is one of the largest local home heating oil providers in America, with over 100 years of experience helping customers keep comfortable at home and save on energy costs. Their support will be instrumental when ThermoLift enters the commercialization stage.
Wilson Sonsini Goodrich & Rosati (WSGR) is a premier legal advisor to technology, life sciences, and other growth enterprises worldwide. They represent companies at every stage of development, from entrepreneurial start-ups to multibillion-dollar global corporations.