Stone Mountain Technologies, Inc. (SMTI), a Johnson City-based company we first profiled in January on teknovation.biz, won an “Outstanding Venture Award” at the 28th annual “Industry Growth Forum” held this week in Colorado.
The event is hosted by the National Renewable Energy Laboratory (NREL) and is a good venue for those seeking investments. Since 2003, presenting companies have collectively raised more than $5 billion in growth financing.
SMTI, which competed against 29 other companies, is developing the next generation of ultra-high efficiency heating appliances for homes and commercial businesses.
“It’s the first time I’ve ever pitched at one of these events,” Michael Garrabrant, SMTI Chief Executive Officer, said. “I really had no thought about winning any competition. I just wanted us to bring in as solid of a presentation as we could, and learn from the experience. I’m really honored.”
Garrabrant said the companies were judged on four criteria – product/solution, market/industry attractiveness, business model and team, and investment potential.
Below is a photo of the award presentation. Oak Ridgers will recognize Dana Christensen, NREL Deputy Director and former Associate Lab Director at Oak Ridge National Laboratory, on the far right.