National Grid Sponsoring Cleantech Open

National Grid has announced that it will become a platinum sponsor of the 2013 Cleantech Open Northeast Business Competition and Accelerator Program, an initiative designed to help the development of innovative clean energy solutions.

The program is run by the Northeast division of the Cleantech Open, a not-for-profit group that has helped 727 green energy startups raise over $800 million in capital since its founding in 2005.

"The Cleantech Open has a very successful track record in helping companies develop their innovations through to investment and we’re thrilled to have a partner on board as dedicated to clean technology as National Grid is," said  Alexandra Adler, northeast regional director of the Cleantech Open, in a press statement. "This partnership will further our ability to bring to fruition the great ideas that are out there, and allow us to help solve our biggest energy and environmental problems sooner."

National Grid leaders hope the investment can eventually provide dividends in the bottom line for their company, their consumers, as well as other energy innovation companies.

"We are excited to join the Cleantech Open this year and we look forward to supporting the development of innovative cleantech solutions that one day we hope to deploy to our customers and incorporate into our networks," said Neil Hughes, head of technology for the technology & innovation team in strategic planning and corporate development for National Grid, in the statement. "We have a wealth of experience that, in partnership with the Cleantech Open, we hope will help entrepreneurs bring their ideas to the next stage of development."

For more information, visit the Cleantech Open website.