The Venture Creations incubator at Rochester Institute of Technology (RIT) announced that Sweetwater Energy, a highly successful 2012 graduate of the associated NYSERDA-sponsored Clean Energy Incubator, has signed a $100 million deal to supply California-based Pacific Ethanol with industrial sugars dervied from non-edible agricultural waste that can be fermented into fuels without driving up demand for food sources like corn.
This brings the volume of contracts signed this year to over half a billion dollars, and the firm is on track to reach $1 billion in 5 years. Sweetwater sells waste-derived sugars for use in ethanol-based fuels and industrial feedstocks to customers nationwide. Up to 50 jobs will be created in Rochester through a joint venture with Naturally Scientific. For more, see the attached news release.
Venture Creations also announced the release of a series of “Startup Insider” videos aimed at first-time entrepreneurs. Venture Creations director Bill Jones is featured in one of the videos, which are available here. For more, see the attached news release.