This year's competition will give awards valued at a total of more than$600,000 to early-stage innovators in six critical technology categories:renewable energy, transportation, smart power, energy efficiency, greenbuilding, and air/water/waste management. In addition to prizes for thewinners, finalists have the opportunity to engage in six months ofmentorship and networking exercises including business-process workshops,technology symposia, and presentations designed to impart the skills andknowledge needed for success.

Winners in each of the six categories will receive a "$100,000 Start-Up ina Box" prize package that includes all of the business essentials necessaryto help take an innovative clean technology idea from concept tosustainable business. Each category prize includes $50,000 cash from one ofthe category prize sponsors, as well as in-kind business services,including office space, and legal, financial and marketing services, worthanother $50,000 (see below).

"Clean Tech Open's 2008 California competition prize package goes above andbeyond other awards and is not typically available to early-stagestart-ups," said Michael Santullo, Clean Tech Open co-founder. "We alsoprovide finalists with the opportunity to meet and get to know potentialinvestors, business leaders, government officials and other high profileindividuals who can help them make their dreams a reality."

Clean Tech Open competition alumni from the past two years have also madeconsiderable progress in obtaining additional financing with more than $45million in venture capital being raised so far. For example, Cool EarthSolar, based in Livermore, Calif., recently closed $21 million in Series Afunding to develop and commercialize proprietary Concentrated Photovoltaic(CPV) technology, which the company will use to generate electricity.

"Clean Tech Open is a platform for organizations such as Cool Earth Solarto transition from the research and development stage to becoming a fullfledged business," said Eric Cummings, founder, Cool Earth Solar. "Ourability to secure the financing to build our company was directly relatedto our becoming a finalist in Clean Tech Open's 2006 competition."

This year's prize package sponsors include AMD, Lexus, Pacific Gas &Electric, San Diego Gas & Electric, Siemens TTB and Southern CaliforniaEdison. In-kind services will be donated by Accretive Solutions accountingand finance, MacCorkle Insurance Service, MarketWire wire services, MoyoGroup IT services, Page One Public Relations, PeopleConnect staffing, Plugand Play Tech Center, Positive Impact Partner marketing services, San JoseBio Center, and the law firm of Wilson Sonsini Goodrich & Rosati.

How to Enter

Interested individuals and groups should complete and submit Clean TechOpen's competition application form along with a three-page executivesummary of their clean technology idea at www.cleantechopen.com before June30, 2008. The entry fee is $250 per team, which is reduced to $150 if theteam is comprised entirely of full-time students, or if the entry isreceived before June 15. Competition details, eligibility criteria andother information are available at www.cleantechopen.com under COMPETITION.

About Clean Tech Open

Clean Tech Open brings together a unique and powerful combination ofentrepreneurs, researchers, environmentalists, investors, businessprofessionals and others to create economic growth and ensure environmentalsustainability. By giving winners early-stage capital and expertise, thecompetition speeds clean technologies from lab to market. The goal is tofoster innovative new businesses focused on energy efficiency, smart power,renewable energy, transportation, green building materials, pollutioncontrol and resource management. The competition thrives on the state'sstrong business and governmental support for innovation, technology andenvironmental protection to create rich soil for the growth of cleantechnology enterprises that foster a healthy natural environment. To learnmore, please visit: www.cleantechopen.com.

Clean Tech Open is sponsored by Acterra: Action for a Sustainable Earth, a501(c) (3) nonprofit based in Palo Alto, California. The competition issupported by a diverse array of businesses, educational institutions,government leaders and private individuals, and run by a dedicated group ofvolunteers including business professionals, scientists, environmentalistsand entrepreneurs.

Copyright © 2008 California Clean Tech Open. All rights Reserved. The 2008California Clean Tech Open, Clean Tech Entrepreneur 201, Start-Up in a Box,Sustainability Starter Kit and Clean Tech Innovation Catalyst for the 21stCentury are all trademarks or registered trademarks of California CleanTech Open. All other trademarks and registered trademarks are the propertyof their respective owners. California Clean Tech Open is under the fiscaland administrative sponsorship of Acterra: Action for a Sustainable Earth,a California 501(c)3 non-profit public benefit corporation. Acterra islocated at 3921 East Bayshore Road, Palo Alto, CA 94303-4303.