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Buswell Energy LLC Receives Department of Energy Funding
Buswell Energy LLC signed a cooperative agreement with the Department of Energy (DOE) this week to build a three-phase distribution transformer prototype utilizing their innovative, patented design for the magnetic component of the device. Under the grant Oak Ridge National Laboratories received $900,000 for scientific work related to maximizing materials used in construction of the Buswell transformer design. The funding was awarded through DOE’s Gridworks Initiative, charged with improving the efficiency and security of our nation’s electric power grid. The initial agreement includes $500,000 for design and prototype work with an additional $600,000 anticipated before completion of the project. Additionally in-kind support is being provided by the Kentucky Association of Electric Cooperatives in Louisville as well as a global materials supplier.

Buswell Energy LLC, a small research and development company with offices in Berea and Louisville, Kentucky was started by Dr. Harrie Buswell as a means of bringing his patented technology to the marketplace. Buswell Energy’s design effort is to reduce constraints that are long extablished in existing units. The promise of Buswell Energy’s design is to deliver improved efficiency while being competitive in the market. Along with partners Mr. Steve Meng and Dr. Dennis Jacobs, Buswell has developed a deep pool of expertise to provide support in the ongoing research and development of the technology. Several are working as consultants under the terms of the grant including Dr. CaiCheng Lu from the University of Kentucky (UK), and Dr. Alan Male with UK and Anvil Technologies.

With guidance and assistance from the Center for Economic Development, Entrepreneurship and Technology’s (CEDET) Director, Cheryl Stone, at Eastern Kentucky University, Buswell developed a strategy for working with funding sources. This rural, Kentucky-based company also received early-stage funding through the Kentucky Science and Technology Corporation’s (KSTC) Kentucky Enterprise Fund.  These funds allowed proof of concept work and continued research and development efforts with a goal of developing a business to create jobs and wealth in Kentucky. 

Since 2002, CEDET, KSTC and the EKU College of Business and Technology’s Innovation and Commercialization Center (ICC) have worked side-by-side with Buswell to provide business guidance and start-up funding.  This guidance and funding enabled Buswell to continue to secure intellectual property, to continue research and to receive additional project funding, including the current Department of Entergy grant. This grant is critical to the next steps in Buswell’s business development strategy.

The Kentucky Science and Technology Corporation (KSTC) manages the Kentucky Enterprise Fund through a partnership with the Kentucky Council on Postsecondary Education.  KSTC also manages the Kentucky Innovation and Commercialization Center Network through a partnership with the Kentucky Department of Commercialization and Innovation.  These two programs seek to identify, retain and grow start-up, high-technology businesses in Kentucky with a goal of creating jobs and wealth throughout the Commonwealth of Kentucky.

For information contact:
Dennis Jacobs at Jacobs@chapel.us Phone 859.893.0841
or Cheryl Stone at Cheryl.Stone@eku.edu Phone 859.622-2334

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