Innovation and Entrepreneurship (I&E)

Fast Company’s Adele Peters highlights Firma Power, a clean energy developer co-founded by MIT alumni aimed at working with data centers to use clean alternatives to gas power. “We started the company with the hypothesis that despite the fact that 98% of what’s in the queue is wind, solar and storage, that’s not getting tapped as the default path to power for large loads—so there’s got to be some market frictions and barriers there,” says Jesse Jenkins SM ’14, PhD ’18.  

Boston Globe reporter Jon Chesto spotlights the fall fair event held as part of the MIT x GE Vernova Energy & Climate Alliance, during which, GE Vernova CEO Scott Strazik shared his enthusiasm for hiring MIT graduates. “Something we talk a lot about inside Vernova is the world is changing very quickly but we need to change quicker and even faster than that so we can lead in the world,” says Strazik. “Over the last year-plus on this campus, we see a lot of opportunities for us to get better through bringing you into the organization.”  

Hertha Metals, a startup founded by alumna Laureen Meroueh SM ’18, PhD ’20, “has developed a way to produce high-purity iron needed in the magnets used in everything from electric vehicles to humanoid robots,” writes reporter Stephanie Findlay for the Financial Times. “Hertha is breaking ground on a 10,000-tonne-a-year commercial facility today on the outskirts of Houston to produce the metal,” Findlay highlights. “The company plans to produce the first steel-grade iron in the fourth quarter of next year and start producing the high-purity iron by 2028.” 

MIT startup Alsym Energy, cofounded by Prof. Kripa Varanasi, has developed an alternative to lithium-ion batteries using sodium ions, writes Morgan Clendaniel for Fast Company. “The battery is nonflammable and nontoxic, allowing it to be placed in more sensitive areas and saving money on cooling systems that often have to be co-installed with large lithium batteries,” explains Clendaniel.  

VulcanForms, a 3-D printing manufacturer that produces “complicated metal parts for a variety of industries, at speed and at scale,” founded by Martin C. Feldmann ’14 and Prof. John Hart, is expected to double its workforce within the next year, reports Jon Chesto for The Boston Globe. “We were born out of MIT, we’ve kind of got our DNA here,” says Kevin Kassekert, chief executive of VulcanForms. “Massachusetts is a place where you can attract the best talent in the world.” 

Forbes’ Afdhel Aziz highlights Extern, a platform that “helps students graduates and career switchers do real projects for companies,” founded by alumnus Matt Wilkerson ‘04, ‘05. “Nearly 90,000 people have used the platform to build experience they can put on a resume and talk about in an interview,” writes Aziz. “I want to work on a problem that really changes someone’s life in a very deep way, says Wilkerson.  

BBC News reporter Chris Baraniuk highlights MIT startup Alsym Energy, which is developing sodium-ion batteries. Drew Buckley, chief executive at ESS Tech, “points out that sodium ion batteries could help distribute renewable energy to data centers,” writes Baraniuk. “And those batteries should be cheaper to run than lithium-ion alternatives, since they are not expected to require as much cooling.”  

Using AI, satellite, and ocean current data, MIT spinout Coastal Assembly constructs artificial reefs designed to help rebuild beaches restore shrinking beaches, writes Fast Company’s Adele Peters. “We take 10 years of data, and we say, where do we predict the critical areas of erosion will be in the coming months to year,” says Prof. Skylar Tibbits, co-founder of Coastal Assembly. “That tells me where the best place is to intervene—what’s the part that is most critical, where we should focus our time, effort, and money.” 

MIT startup Fourth Power, founded by Prof. Asegun Henry, has developed a solar cell that generates its energy through built-in solar panels powered by hot graphite, writes Hiawatha Bray for The Boston Globe. “The Fourth Power system can be heated up using renewable energy, like wind or solar power, at times when these resources are cranking out surplus power,” writes Bray. “[T]he Fourth Power technology could become a preferred method of providing extra power to electrical grids during periods of peak demand.” 

Emily Knight, President and CEO of The Engine  will serve as Boston’s next economic development chief, “bringing life back to empty downtown office spaces, supporting neighborhood business districts and keeping young workers in Boston as the cost-of-living soars,” writes WBUR’s Eve Zuckoff. “I want to help companies start here and grow here while making sure the jobs and industries they create are felt in every neighborhood across the City,” says Knight.  

Mayor Michelle Wu has appointed Emily Knight, president and CEO of The Engine as Boston’s next economic development chief, writes Shirley Leung for The Boston Globe. “Real estate and economic development are so deeply connected that building those relationships is absolutely a priority for me,” says Knight.  

New York Times reporter Quinn Glabicki highlights Coastal Assembly, an MIT spinout that uses AI, satellite and ocean current data to monitor communities threatened by coastal erosion and create underwater structures to regrow beaches at nearly 900 coastal sites. “We can go to any community around the world and understand what has happened and then propose a solution that is very precisely tailored to them,” says Prof. Skylar Tibbits, one of Coastal Assembly’s founders.  

President Emeritus L. Rafael Reif joins Yahoo Finance’s Julie Hyman to discuss how new policies regarding student visas, coupled with cuts to federal funding for universities, are severely disrupting America’s innovation economy. “The whole innovation ecosystem we have in America has been the best since World War II and has created this tremendous economy for the country. A great deal of that economy has to do with federal funding of research, doing it in a nonpoliticized way, and having the best people come from other countries to America to study with us, and to learn with us,” says Reif. “All of that ecosystem is being affected, and that makes it very uncomfortable for the experts who came here, to be here, to study here, and to stay here.” 

In a video, Visiting Scholar Ariel Ekblaw speaks to NBC News about floating, magnetic tiles that could be used to build structures in space. “We could self-assemble these [tiles] on the Moon,” says Ekblaw. “We could make habitats for the Artemis program. Once we have this idea of modular space tiles, there’s so many different things that we can do with self-assembly.”  

The Financial Times’ Anjana Ahuja spotlights research led by Prof. Dennis Whyte on the economics of fusion energy. “Economic Q, the metric devised by Whyte and others and which must exceed one to represent net economic gain, compares the capital gained over a fusion energy plant’s lifetime to that expended,” writes Ahuja. “Factors reflect the extreme engineering involved and include construction costs, component durability and the efficiency of converting fusion power into a commodity.”