Rice Power: Cisco, DFJ Award Seed Money to Husk Power Systems
Wednesday, July 1, 2009
We first wrote about Husk Power Systems, a startup that turns rice husks into energy, back in November 2008. Now the startup, which already powers an entire small town in India, has beat out over 1,000 competitors to win the Draper Fisher Jurvetson and Cisco-sponsored Global Business Plan Competition. As a result, Husk will receive a $250,000 seed round.
Husk Power Systems, founded in 2007 by University of Virginia business students Chip Ransler and Manoj Sinha, operates 35 kW to 100 kW mini power plants that convert rice husks into methane gas for energy. The plants are used to deliver electricity to small villages of 2,000 to 4,000 inhabitants in India’s Rice Belt, which usually has loads of leftover husks from rice milling. Ash generated from the plants can be used as fertilizer or as an ingredient for cement.