MassCEC awarded Dr. Pablo Ruiz of Boston University a $26,000 grant through the AmplifyMass program in March 2015, to develop a grid optimization technology with the potential to reduce the cost of grid congestion by 25-50%, saving over $1B annually. Additionally, the technology can enable a higher penetration of renewables onto the electric grid. At project completion in August 2015, Dr. Ruiz and his team spun out their technology to form NewGrid, Inc. Since then, the company has moved into Somerville-based Greentown Labs, the nation’s largest cleantech incubator and secured $290,000 in angel and founder investment funding. NewGrid also received a $40,000 Catalyst grant from MassCEC, and was featured in several prominent scientific publications, including publications of the Institute of Electrical and Electronics Engineers (IEEE). Most recently, the company received a $100,000 MassVentures START award in August 2016.