DOE Funding Enables Development of New Applications of Rive’s Technology
CAMBRIDGE, MA (May 12, 2010) — Rive Technology, an innovative catalyst technology company for the petroleum refining industry, announced today that it has been selected as a winner of the U.S. Department of Energy’s (DOE) Industrial Energy Efficiency Grand Challenge. The DOE will award $300,000 to Rive Technology to fund the development of its zeolite technology to make separations of petrochemicals more energy efficient. The Industrial Efficiency Grand Challenge was established to fund the development of transformational industrial processes and technologies that can significantly reduce greenhouse gas emissions throughout the industrial sector.
“We are honored to be recognized by the Department of Energy,” said Larry Evans, Chief Executive Officer & Founder of Rive Technology, “This funding allows us to begin development of new applications of our technology, beyond petroleum catalysis.”