CleanNG was named one of the best and brightest new startups in the world by Global Entrepreneurship Week.
CleanNG, a Tulsa-based compressed natural gas storage tank manufacturer, competed with nearly 400 applicants in 17 countries to be named 1 of the 50 most innovative global startups by GEW. In addition, CleanNG was announced as one of “the most promising new companies” by CNBC.
Global Entrepreneurship Week is a celebration of innovators, entrepreneurs and creators who launch startups that bring ideas to commercialization and encourage the entrepreneurial spirit and activity. Activities started last weekend with StartUp Weekend.
“We are tremendously excited to receive this type of recognition on a global scale CleanNG has long seen the potential for substantial growth in the CNG storage industry. Historically, two of the largest challenges to wider adoption of CNG as a transportation fuel have been the space taken up by the fuel tanks and the additional weight they add to the vehicle. Our innovative design is a huge step forward in overcoming these challenges,” said Matt Villarreal, CEO and co-founder of CleanNG.
The company began in Stillwater and moved to Tulsa at the beginning of this year to be closer to its research partner, OSU-Tulsa’s Helmerich Advanced Technology Research Center. Founders Michael Tate, and Villarreal, originally from Texas, started the company while they were students at Oklahoma State University.
“We knew that Tulsa and Oklahoma would be the place to be for starting a natural gas focused company,” said Tate. “Oklahoma is quickly gaining a reputation as a hub for CNG innovation because of the state tax incentives encouraging the use of CNG and the manufacturing capabilities in the area.”
In addition to recognition from Global Entrepreneurship Week and CNBC, CleanNG recently secured its first private investor and first product order; to develop a prototype storage tank for a CNG infrastructure project.
“Oklahoma has a rich history as one of the most promising places for energy and we’d like to build on that history and be a part of restoring this important legacy. We plan on big growth in the next five years that will bring a variety of highly skilled, high paying jobs to Tulsa,” said Villarreal.