Remote Well Solutions, an Arrowhead Technology Incubator client, produces fully automated, off-grid water pumping systems that significantly reduce costs for ranchers. The Cloudcroft-based business is one of twelve companies selected for the Village Capital accelerator program, which will culminate in a pitch event held in Albuquerque this November.
Twelve companies — three that are from New Mexico — have been preparing for the new Village Capital program that launches in Albuquerque July 15.
Village Capital is an accelerator of sorts that targets specific industries and invests up to $100,000 in two companies, said its senior associate Dorian Rader. The 12 companies chosen for the Albuquerque cohort include some that build monitoring sensors for wells, as well as hydropower and water treatment options.
Rader said Village Capital takes a different approach to capital for startups, though. Instead of just looking for a good business model, it puts the call out for businesses in certain industries that have a social relevance. For this group of companies, Village Capital is looking at water and water technology.
“They have to have a prototype and the ability or the want to go international at some point,” Rader said. “We wanted to see a scaleable product, so no services or consulting.”
But where Village Capital’s program is vastly different from most accelerators is in how it chooses to invest. The 12 companies meet three times for intensive workshops and at each workshop they rank each other. At the end of the program, the companies with the most votes by their peers share in the investment.
The three New Mexico companies are:
Remote Well Solutions: The Cloudcroft-based business makes remote pumping stations for livestock operations that use both solar and propane. With a sophisticated controller, the systems can fill troughs without overflowing and are more efficient than gas-powered systems and more reliable than windmills.
ecOasys: Located in Albuquerque, the group focuses on the design and development of water systems from watershed to garden.
Ocean Pacific Technologies: The company has offices in both Ventura, California, and Santa Fe. It makes a line of water-lubricated pumps for the desalinization industry.