Nevada County-born company awarded $50,000 from U.S. Small Business Administration
Shawn Garvey probably never imagined he would be where he is today.
The now-CEO recalled sitting in a Grass Valley coffee shop over a decade ago, talking about bioenergy projects with Mark Filimonov.
Now, the two have been able to design and deploy $5 billion worth of energy and transportation technology with their company Momentum, conceived of in Nevada County and now based in Sacramento. The business also has a Grass Valley office.
More recently, the business received a $50,000 award from the National Growth Accelerator Fund Competition, sponsored by the U.S. Small Business Administration, for helping expand and develop early stage technology. The growth accelerator fund appropriated a total of $3 million in awards to a range of companies. Award recipients are meant to use their funds to facilitate the development of women entrepreneurs, economically or socially disadvantaged individuals or businesses where a low amount of government-sponsored small business research exists.
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Momentum is the only awardee from northern California out of dozens of competition winners.
The company born out of the foothills operates in four areas, including accelerating zero-emission technologies of ports and fleets, managing electrification projects and bolstering micro-grids, as well as bioenergy projects.
Garvey projects that over the next two years Momentum will either identify or continue to support about 200 early stage companies.
Despite expanding both its economy and growing its population, Garvey said California has been able to diminish its carbon emissions to levels last seen in the 1990s. The CEO feels his operation has been a critical part of this process.
“I do this because it creates hope and inspiration,” he said.
To contact Staff Writer Sam Corey email email@example.com or call 530-477-4219
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