Milken-Motsepe Green Energy prize finalists announced
The Milken Institute and the Motsepe Foundation has revealed the five teams who will compete in the final round of the Milken-Motsepe Prize in Green Energy, next year.
Based on a comprehensive review of real-world data, an independent panel of professional judges selected the five final teams. The teams are: AfTrak Micro Electric Agriculture and Energy; GEG ehf; New Digit Technologies; OMNIVAT; and Smart Agri-Centres.
Each finalist team will get $70,000 to further develop and test their solutions, which will be put through their paces in a real field test demonstration, in South Africa.
Judges will assess competing teams' abilities to meet the challenge of generating 60kWh of electricity in 24 hours, by demonstrating off-grid electricity generation using green energy sources, and providing affordable and reliable electricity to energy-poor communities, based on the demonstration.
To date, the competition has awarded $750,000 to entrepreneurs who are experimenting with novel concepts to increase access to dependable, affordable, and sustainable power in Africa.
The judges will award a $1 million grand prize in May 2024. There will also be a runner-up reward of $250,000. The Milken-Motsepe Prize in Green Energy will award nearly $2 million in prizes and benefits, in total.
“Access to electricity can advance industrialisation across Africa and improve the standards of living for many marginalised communities,” said Dr. Precious Moloi-Motsepe, co-founder and CEO of the Motsepe Foundation. “These finalists are building innovative solutions to deliver on the promise of a sustainable future, in line with the (UN’s) Sustainable Development Goals. We will be delighted to welcome them to South Africa for the live demonstrations next year.”
“These finalists have once again proven the value of the innovation competition model in driving breakthroughs,” said Emily Musil Church, senior director at the Milken Institute. “The semi-finalist round pushed these teams to stretch their limits and build solutions that are scalable and life-changing for millions.”