Bell Labs Gets Energy Grant, Jersey City’s BlockFi Fined and Dome Audio Wins Princeton Pitch Stop

[This article was taken from NJTW News, an NJTechWeekly.com newsletter. Sign up for it here.]

Nokia Bell Labs Gets ARPA-E Grant

Nokia Bell Labs in Murray Hill | Courtesy Nokia Bell Labs
  • Nokia Bell Labs (Murray Hill) was selected by the Advanced Research Projects Agency-Energy (ARPA-E) in the U.S. Department of Energy (DOE) to receive $2.1 million in “OPEN 2021” funding.
  • The funds will be used to develop a highly efficient thermal energy architecture that will significantly reduce the amount of energy to cool data centers, as well as capture the waste heat for use in heating and cooling applications.
  • The goal of this Nokia Bell Labs research program is a dramatic reduction in computer cooling energy with the additional benefit of eliminating the need to consume precious water supplies.
  • The announcement represents an extension of Nokia’s broader efforts to accelerate digitalization to help the information and communication technology industry reduce its environmental footprint.

BlockFi Gets Hit With $100 Million Fine From SEC

  • Part of Jersey City’s thriving fintech scene, cryptocurrency startup BlockFi agreed to pay $100 million in fines to the U.S. Securities and Exchange Commission and 32 states.
  • The company, which is backed by venture capital, is valued in the $3 billion range, according to a story in Crain’s New York.
  • The company offered 7.5% annual interest on cryptocurrency-holding accounts and did not register them with the SEC as securities as required by law, according to an SEC press release.

Princeton Pitch Stop IV

  • The Princeton Mercer Regional Chamber held its fourth Pitch Stop, a startup pitch competition, on February 17.
  • The winner was Dome Audio (Kenilworth), represented by former New England Patriot and Super Bowl winner Tim Wright.
  • Dome Audio offers bone-conduction headphones that provide a 4D listening experience for the user.
  • Also competing were Grades4life.com (Somerset), a technology platform that engages the community and builds culture in schools, and Princeton NuEnergy (Bordentown), a provider of second-life battery solutions and lithium-ion battery recycling.

Sharing is caring!

12 More posts in blockchain category
Recommended for you
Cross River Ribbon Cutting
Do You Think a Fintech Innovation Center Would Be Good for New Jersey? Weigh in by June 6.

[Questions about the request for information are due Monday, May 9 by 11:59 pm.] New...