Oregon torrefaction company finalist in cleantech competition

Biomass torrefaction company HM3 Energy Inc. has been selected as one of three finalists in the 2011 Cleantech Open Business Competition’s Pacific Northwest Division.

The company received $20,000 and will represent its region at the final competition in San Jose, Calif., Nov. 14-15, said HM3 President and CEO Hiroshi Morihara. The national grand prize is $250,000.

The Cleantech Open is a nonprofit organization that runs the world's largest business competition for clean technology entrepreneurs with a goal to find, fund, and foster ideas that address today’s most urgent energy, environmental and economic challenges. Over the past five years, the Cleantech Open has awarded more than $5 million in cash and services to support cleantech companies.

HM3, which was founded by Morihara in 2007, is currently constructing a biomass torrefaction demonstration facility in Troutdale, Ore., has plans for a commercial-scale plant in Prineville, Ore., and has obtained several federal grants to help fund them.