Innovator of the Week
Alex Bell
Founder of RheOmega
Please provide your 30-second pitch about your company.
At RheOmega, we aim to create an abundance of clean energy through technological innovation. We are obsessed with solving our customers’ energy needs with cost-effective clean energy solutions. We are driven by curiosity, the thrill of invention, and the desire to leave a legacy of good.
RheOmega is developing The Foam Engine – a power generation system that creates clean energy from industrial waste heat, geothermal, biomass, and solar thermal heat sources. The Foam Engine is well-suited to low-temperature/low-quality heat sources and distributed power levels (200 kW or less). Compared to the incumbent technologies, we produce 30% more electricity from the same heat sources.
Who or what was your best resource for starting your company?
The New Hampshire Pathway to Work Program has provided me with a realistic opportunity to develop my company by providing critical financial support. The program connected me with the NH Small Business Development Center (SBDC) and broadened my network of NH entrepreneurs. In addition to Pathway to Work, I am building connections with the Live Free and Start Initiative, Alpha Loft, Dartmouth, and UNH communities.
What was your biggest obstacle in starting your company and how did you overcome it?
The biggest obstacle I faced when starting RheOmega was building the confidence to take the plunge. I did a substantial amount of research prior to diving in, studying some great resources, such as Steve Blank’s “Lean Launchpad” and Stanford University’s “How to Start a Startup.” While committing to a startup is ultimately a leap of faith, building my knowledge gave me the confidence to become a practitioner, not just a student, in the startup world.
What’s the best advice you have received?
I recently had a conversation with Becky Stoughton from Fuentek and she told me this: Get specific about your market segments, pick one, and go talk to those potential customers! Good businesses are looking for your innovative solution to their problem to stay competitive, and are willing to hear out your cold call.
What about the NH lifestyle appeals to you?
New Hampshire has always been an easy fit for us. There’s an amazing entrepreneurial ecosystem here that provides great support. As far as lifestyle, the seacoast is a hard place to beat. Every season offers something beautiful and interesting. We have a wealth of natural and cultural attractions, and we’re just an hour away from Boston. The cost of living is low and the workforce is well educated and hardworking. When we think about putting down company roots, we want to plant them in a place where they will thrive. For RheOmega, that’s New Hampshire.
What does the future look like for your company?
We’re looking to develop our technology to a prototype stage and bring the idea to life! At RheOmega, we believe that achieving true impact on industry and the environment requires both technical and commercial success. We measure our impact by exponentially growing clean megawatt-hours, reducing emissions, and transforming waste heat into dollars.