SHREVEPORT, La. – Startup Prize: Energy, a new competition for energy startups from the team behind Startup Prize: Health, named LOCOAL of Boerne, Texas, and NovaSpark Energy of West Monroe, Louisiana, as the grand prize winners of its inaugural competition.
LOCOAL won the Fuels & Hydrocarbons track, while NovaSpark Energy won the Electricity track. Each received a $10,000 cash prize, along with further mentorship and introductions to potential investors.
Hosted by the Prize Foundation, the program combines elements of a competition, conference and entrepreneur support program, with an emphasis on connecting entrepreneurs with investors and subject matter experts. The Startup Prize: Energy program is supported by Louisiana Economic Development, Louisiana Innovation (LA.IO) and FUEL (Future Use of Energy in Louisiana), a designated National Science Foundation Regional Innovation Engine.
Organizers anticipated 12 to 16 companies for the program’s first year. Instead, the inaugural 2026 program drew 33 companies from 14 states, as well as entrants from Switzerland, Kenya and Canada. The Startup Prize model focuses more on connecting entrepreneurs with investors and subject matter experts than on the pitch itself.
“Startup Prize: Energy’s inaugural year far surpassed our expectations,” said Gregory Kallenberg, founder of Startup Prize and executive director of the Prize Foundation. “Not only did this year attract amazing founders and innovators, but we experienced an influx of investors and experts who see this event as a beacon for energy innovation. Congrats to our winners! Mostly, we can’t wait to see what next year brings!”
LOCOAL is developing distributed energy systems that are able to convert commercial and industrial waste into biochar and clean fuel on-site, turning a disposal cost into a source of carbon renewal credits and renewable energy.
NovaSpark is working on a mobile, closed-loop system that generates hydrogen fuel, electricity and water on-site from collecting moisture in the air. The technology provides reliable, off-grid power for defense and critical response infrastructure, without having to rely on the grid or resupply chains.
“Louisiana has long been an energy leader, and innovation is how we ensure we remain one,” said Josh Fleig, chief innovation officer at Louisiana Economic Development. “Startup Prize: Energy is a proving ground for entrepreneurs developing the technologies that will shape how energy is produced, delivered and used in the years ahead. By bringing that innovation to Louisiana, we can pair new ideas with the industrial expertise and infrastructure that already exist here, helping emerging companies prove their technologies, reach the market and create new economic opportunities in our state.”
How the Startup Prize: Energy Competition Works
Entrepreneurs entered Startup Prize: Energy by registering their early-stage energy businesses to attend at least one qualifying event. The competition welcomes companies across the energy spectrum, from oilfield services and drilling technology to new fuels like biofuels and hydrogen, solar and renewable generation, battery and grid storage, and power management software.
During qualifying events, entrepreneurs take part in mentor-led roundtables, panels and keynotes with subject matter experts from across the country, all designed to pressure-test their business viability and go-to-market strategies. To advance to the finals, competitors submitted a detailed survey and business plan, which, combined with mentor feedback, helped narrow the field to those who would present before the Startup Prize Investor-Judge panel.
“FUEL is building an energy innovation ecosystem in Louisiana — and making sure the people with the best ideas can grow those companies here,” said Stephen Loy, director of technology commercialization at FUEL. “Startup Prize: Energy connects those founders to the universities, industry partners and capital they need. We’re excited by the response in this first year, and we plan to build on it.”
During the Startup Prize Finals, the six finalists presented their concepts to an Investor-Judge panel, undergoing questioning on the merits and feasibility of their businesses. Investors also have the ability to invest in companies they find promising, regardless of whether those companies win the cash prize.
In addition to LOCOAL and NovaSpark Energy, four other finalists were selected from among the national pool of 33 competing companies: Arculus Solutions of Arlington, Virginia; LNK Energies of Cambridge, Massachusetts; Element16 of Duarte, California; and Innowind Energy Solutions of Ontario, Canada.
Arculus Solutions retrofits existing pipelines with an advanced internal coating that prevents corrosion and enables the safe transport of hydrogen. Its robotic deployment system, SputterPig™, installs the coating to improve pipeline efficiency.
LNK Energies is developing a retrofit that allows existing diesel trucks to run on liquid hydrogen fuel, giving the trucking industry a path to zero-emission operation without new vehicles or fueling stations.
Element16 is developing a patented thermal energy storage system that replaces molten salt with lower-cost sulfur. The technology is designed to allow industrial facilities to store and dispatch clean heat on demand.
Innowind Energy Solutions uses AI-controlled robotic fins that can be retrofitted onto existing wind turbine blades to increase energy capture and extend blade life without a full turbine replacement.
