The Jan and Ted Roden Center for Entrepreneurship, along with the UTPB Department of Industrial Technology, the UTPB Small Business Development Center (SBDC), the Center for Energy and Economic Diversification, the John Ben Sheppard Institute and private and public energy-based organizations formed an alliance in February 2007. Formally named the UTPB Alliance for Innovative Energy Technology Commercialization, the alliance will promote the development and commercialization of innovative energy sources such as geothermal, biofuels, solar, solar brine ponds and hydrogen. The alliance will focus on creating an economic "cluster" of those alternative energy sources within specific geographic locations within the Permian Basin. These partners bring together public and private experience and knowledge in business and law, geology, applied research in fossil fuels and alternative energy sources, industrial technology, academic teaching/research and regional leadership responsibilities for economic diversification.
The Alliance will also work to develop software that will enable potential investors to analyze the economic returns available through the various sources. The software will include a spreadsheet which will enable potential investors to construct investment scenarios using the cluster/bundling concept. The package can also be used to aid in the preparation of effective, investor quality, business plans that incorporate innovative energy solution ideas.
Initial funding for the alliance was provided through a grant in the amount of $12,500 from the Regional Center for Innovation and Commercialization (RCIC).