The Geothermal Prize is designed to spur innovation and address manufacturing challenges fundamental to operating in harsh geothermal environments. It offers $4.65 million in prizes and a chance to innovate and win with the support and expertise of the national labs, incubators, investors, facilities, and seasoned industry mentors in the American-Made Network.
Competitors in the Geothermal Manufacturing Prize participate in four progressive prize contests: Ready!, Set!, Make!, and Geo!
These competitions fast-track efforts to identify, develop, and test disruptive manufacturing solutions to geothermal operational challenges. Participants will compete to win a portion of $3.25 million in cash prizes, $1 million in support vouchers, and $400,000 in field testing costs.
These support vouchers can be used at national laboratories and other approved voucher facilities within the American-Made Network to develop, test, and validate technology. Throughout the Geothermal Prize, competitors will also receive support from Network members, including technical insight, product validation, mentoring, access to facilities, and other critical resources competitors need to succeed.
The Ready!, Set!, Make!, and Geo! Contests fast-track efforts to identify, develop, and test disruptive solutions to geothermal industry needs for a total of $4.65 million in prizes. Each stage lasts 3-7 months and is expected to culminate in summer 2022.
|Ready!||Up to 20||$500,000 distributed equally, with cash prizes ranging from $25,000 to $50,000 per winner|
|Set!||Up to 10||$1,000,000 in cash prizes and $750,000 in vouchers, with each winner receiving between $100,000 to $200,000 in cash and between $75,000 and $150,000 in vouchers|
|Make!||Up to 5||$750,000 in cash prizes and $250,000 in vouchers, with each winner receiving between $150,000 and $250,000 in cash and $50,000 in vouchers|
|Geo!||Up to 2||$500,000 each in cash prizes and up to $200,000 for field-testing per eligible winner|
Ready! Contest (Concept Development): Competitors will demonstrate that they have identified and developed an impactful idea or solution that will partially or wholly incorporate AM into a geothermal tool, component, or equipment. They will also propose a path to design, prototype, and test a proof of concept.
Set! Contest (Design): Competitors will work to substantially advance their AM-focused geothermal tool, component, or equipment concept by demonstrating their design’s promise in meeting engineering and operational requirements outlined by the team. Additionally, it is expected that competitors make significant progress in teaming and partnerships capable of building and testing a functioning prototype.
Make! Contest (Prototype): Competitors will fabricate AM prototypes based on their Set! design at a qualified fabrication facility. Make! Contest competitors will be evaluated by a panel of experts during a live demo day event, using—in part—engineering and technical performance criteria previously submitted by each team. Winners will receive up to $250,000 in cash and an additional $50,000 in vouchers redeemable with preselected Power Connectors, as well as national labs and qualified fabrication facilities.
Geo! Contest (Test): Competitors will manufacture an advanced functional prototype with all AM components fully incorporated. Testing will use tool, component, or equipment-specific performance criteria relevant for geothermal environments submitted with the Geo! Contest application package. Overall contest winners will be chosen by a panel of experts during a live demo day event and receive $500,000 in cash, as well as up to $200,000 in field-testing costs covered for eligible teams.
Competitors are entrepreneurial individuals or teams legally residing or based in the United States. Competitors can be individuals of one or multiple organizations, students, university faculty members, small business owners, researchers, or anyone with the desire and drive to transform an idea into an impactful solution.