Rep. Sam Liccardo Congratulates Palo Alto-Based Magnefy on Winning Top Prize at the U.S. Department of Energy’s EPIC Pitch Competition
PALO ALTO, CA — Today, Representative Sam Liccardo (CA-16) proudly recognized Magnefy (formerly known as Infinion Technology), a cutting-edge energy startup headquartered in Palo Alto, for winning first place and a $50,000 award at the U.S. Department of Energy’s (DOE) Spring 2025 EPIC Pitch Competition.
The EPIC (Energy Program for Innovation Clusters) Pitch Competition spotlights the most promising startups in America’s clean energy innovation ecosystem. Magnefy earned top honors for its AI-powered, high-frequency magnetic sensing technology, which enables real-time, low-cost grid asset monitoring—a critical step toward building a more resilient and reliable electric grid.
“Magnefy’s achievement is a powerful example of Silicon Valley’s enduring spirit of innovation applied to one of our most pressing challenges—modernizing our electric grid,” said Liccardo. “Their technology not only strengthens grid reliability, but also supports the clean energy transition, energy equity, and a more sustainable future. I’m proud to see this world-class innovation happening right here in Palo Alto.”
"Winning the DOE EPIC Pitch Competition is an incredible honor and a powerful validation of our mission at Magnefy—to transform how we monitor and protect critical power infrastructure,” said Joseph Kao, Co-Founder and CEO of Magnefy. “This award will directly accelerate the prototyping of our edge AI Internet of Things device and enable field validation with industry partners over the coming months. We're excited to keep pushing forward and help build a more resilient, reliable energy future for all."
Six finalist startups from across the country pitched their technologies to a panel of experts at the 12th annual Energy Thought Summit (ETS) in San Antonio, Texas. Magnefy, nominated by its incubator LabStart, stood out for both its technical innovation and commercial potential.
To learn more about the EPIC program and this year’s competition winners, visit energy.gov/otc.