MidWest’s leading energy-tech incubator celebrates milestone year supporting startups that raised $200M+
July 10, 2025 (Warren, OH) — BRITE Energy Innovators, the Midwest’s leading energy-tech incubator, today released its 2024 Annual Report, detailing a year of unprecedented growth, investment, and economic impact for the advanced energy sector.
In 2024, BRITE-supported startups raised more than $200 million in capital, fueling innovations in clean energy, battery technology and hydrogen solutions.The organization’s portfolio companies generated $270 million in economic output, created over 1,600 jobs, and contributed more than $30 million in federal taxes and $13 million in state and local taxes.
“2024 was a landmark year for BRITE and the startups we serve,” said Jing Lyon, interim CEO of BRITE Energy Innovators. “From scaling our CXO Program to delivering relentless support to the companies that are rewriting what’s possible, we’ve proven that the future of energy is being built right here in the Midwest.”
A key driver of this success has been BRITE’s innovative CXO Program, which addresses one of startups’ most critical needs – experienced leadership. By embedding fractional executives directly into early-stage companies, the program provides hands-on support where startups need it most.
“The best feature is that leaders in the CXO Program are founders themselves, so they have been exactly where I am,” said Onas Bolton, CEO & Founder of BRITE-supported Octet Scientific.
Additional 2024 Key Wins:
- $200M+ raised by BRITE-supported startups in 2024.
- 650+ companies supported since BRITE’s founding, attracting $500M+ in total third-party investment.
- Strategic partnerships with JobsOhio, Huntington Bank, KPMG, and federal grant programs expanded resources for startups.
“BRITE’s success is a testament to the power of collaboration,” said Michael Stacey, BRITE Board Chair. “BRITE’s startups don’t just create companies–they create careers, tax revenue, and a competitive edge for Ohio. We’re proud to lead them through that journey.”
As BRITE enters its next chapter, the organization remains focused on bridging gaps between startups, investors, and policymakers, driving the advanced energy economy forward.
