Our portfolio companies exhibit determination and persistence in their journey to scale. We’re proud of all milestones, whether big or small, as they indicate growth and scale, allowing the benefit of innovative technologies to reach further. Promethean Power has made excellent progress so far in 2012, and today we’d like to share the most recent update on their journey.
Secretary of State Hilary Clinton recognized the Promethean team for their work. On her trip to India in May, Secretary Clinton announced the winner of the first US-India Science and Technology Endowment Board Grant: Promethean Power and India-based partner Icelings (read full text of the announcement here). The grant, launched by Secretary Clinton and Indian Minister of Science and Technology Somanahalli Mallaiah Krishna, is representative of the United States and India’s strategic partnership to collaborate on innovations that can make a practical difference in the world. The grant will be used to apply Promethean’s technology for cold storage for fruits and vegetables.
Besides diplomatic recognition for their work, Promethean has been making great progress on-the-ground, closing sales, successfully installing their first in-field systems, and meeting the milestones we’ve set out for them. In this video, you can see entrepreneur Sam White pouring milk one of the first Rapid Milk Chillers to be installed with a local dairy farmer. It’s a huge accomplishment and we’re looking forward to seeing what else Promethean can do with their technology and the endorsement from Hilary Clinton.
We’re looking forward to seeing lots more installations on-the-ground. Stay tuned.