If you haven’t heard of GridBridge, you will. Soon.

New means of power delivery is the secret sauce for the Raleigh-based startup, and the recently launched firm is quickly earning recognition from the Obama Administration as part of a $140 million power initiative plus a recent selection by NASA for beyond-this-world energy routing.

On Monday, the Research Triangle Cleantech Cluster named GridBridge as its first “entrepreneur member.” The Cleantech Cluster is a high-profile industry effort focused on promoting and developing the region’s power and “green energy” sector. 

Don’t be surprised if GridBridge vaults from entrepreneur to major player very quickly. After all, GridBridge is working on a pilot program with energy giant Duke.

When North Carolina State put together the winning bid for the “Next Generation Power Electronics Manufacturing Innovation Institute” and the resulting $140 million contract earlier this year, GridBridge was an essential player.

So what is GridBridge all about and who is its founder Chad Eckhardt? To sum up quickly, Eckhardt is a former executive involved in original equipment manufacturing (OEM) for electrical equipment. His transition from OEM to entrepreneur came after becoming involved with the FREEDM networking research center at N.C. State, which decided to spin out the GridBridge technology.

Our Q&A:

  • What is the secret sauce of GridBridge?

Our core mission of modernizing the electrical grid, engaged utility partners, breakthrough technology, supportive investors, lean structure, and committed entrepreneurial team.

  • How did you get involved with FREEDM Center?

Over the course of my career, I have developed a real passion for modernizing the electrical grid. FREEDM Systems Center is one of the most promising locations where research in this area is being conducted. I’ve personally helped the Center as an “Innovation Champion,” also serving on and leading numerous working groups.

My support has also been advising on conducting “market-guided research,” which proactively involves end-users (utilities in our case) and points efforts in areas that have a high probability of successful commercialization. For my committed efforts these areas, the Center recognized and awarded me in 2012 for “Exceptional Contributions and Dedicated Service”

  • Why did you decide to lead the new venture? Weren’t there risks?

Certainly there are risks in leaving the comfort of large established companies.

Personally, I have a family with twin boys. However, the entrepreneurial passion has always been inside of me and GridBridge was the perfect opportunity to realize and channel that creativity and drive. I remember a discussion 10+ years ago with one of my mentors about the ideal time to transition and his response being “you’ll know when it’s the right time.”

For me, that time was in 2012. The market offers extremely high potential, the technology can make a notable impact on society and my family has been supportive of the decision. I have the coveted pleasure of enjoying what I do every day.

  • Your firm has received grants and funding – how much in way of grants and what are sources? How much private sector funding and how much? Who are the investors?

National Science Foundation recognizes the broad societal impact associated with modernizing the electrical grid. The organization has therefore been extremely supportive of our research and commercialization through awarding the team multiple grants. Those have certainly included SBIR. There are also grants pending with numerous additional organizations.

On the private sector, we’ve teamed up with a boutique angel investment firm that shares our vision of efficient electricity, integrated renewables, and reliable infrastructure.

  • You also received some FREEDM Center funding – is that from federal dollars or mix with private sector?

FREEDM is primarily federally funded, with supplemental funding through member companies. GridBridge works very closely with FREEDM Systems Center as a member of its Industry Advisory Board.

Both NCSU and FREEDM are collaborating with and are committed to the success of GridBridge.

  • Who owns the intellectual property developed by the company?

GridBridge owns IP developed within the company, has licensed IP, and has agreements in place with how to handle joint IP.

  • Why did FREEDM decide to spin the venture out?

Small business, specifically GridBridge, is a key component in the product development ecosystem. FREEDM is chartered by NSF with conducting foundational research that can be applied to many various aspects of the grid.

For example, one hypothetical area of research could benefit electric vehicles, energy storage, and data centers. Throughout the world, promising research often needs help crossing the gap from research into an actual product that offers value to an end user.

As a nimble, focused, and driven small business, GridBridge’s role is to journey that gap: de-risking technology, proving application in the end market, and working with end users to craft features that offer notable benefit.

We’ve successfully done this with our initial upcoming products.

Note: In the second part of our interview, Eckhardt talks about “wide gap” technology and how he has worked with NCSU executives to help form the company.