Innovative Space Technologies: Vanguards of Technology Development and Product Commercialization

Innovative Space Technologies: Vanguards of Technology Development and Product Commercialization (Energy CIO Insights)

Energy CIO Insights magazine named the Top 10 Energy Technology Startups for 2018 in its August edition. UF startup and UF Innovate | The Hub resident client Innovative Space Technologies is one of those Top 10 in a list that features “the most prominent startups in the energy technology landscape, capable of inventing and innovating for a cleaner, greener and more energy-efficient environment.” This article discusses how IST is addressing the energy efficiency challenges of the space industry.

Since their discovery, fossil fuels provided a great impetus to the industrial revolution and have played a pivotal role in meeting the world’s energy demands. However, the inefficient consumption and constantly burgeoning demands led to the depletion of many energy reservoirs. Although rigorous efforts have been made by governments to reduce carbon emissions with renewable energy sources, fossil fuels continue to dominate the energy consumption market globally with the US being one of the major producers and consumers.

According to the EIA, the total fossil fuels production in the United States will average almost 73 quadrillion British thermal units (BTUs) in 2018 and will reach 75 quadrillion BTUs by next year. Owing to the rising demands, the US economy is slowly shifting its focus on production efficiency rather than production volume…

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