CNBC Featured CleanNG (Infinite Composites) in their Top 50 World's Most Promising Companies)

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"Some entrepreneurs are interested in making processes more efficient. Others are looking for ways to save people money. Still others are hoping they can save the world. Whatever their motivation, entrepreneurs have the ability to inspire others with their creative way of taking a problem and finding a solution.

In an effort to find the most innovative new companies, Startup Open, an annual competition, invites 50 companies to vie for the opportunity to present their business plans to experienced entrepreneurs, and gain insight from the experts.

“Young companies need encouragement and recognition at the earliest stages. They are emerging heroes who will eventually generate jobs and economic growth for their communities,” said Jonathan Ortmans, president of Global Entrepreneurship Week Startup Open.

Here is a sampling of the 50 competitors, representing a range of ideas from around the world. The winners will be announced on Nov. 12 as the kickoff event to the “Global Entrepreneurship Week” Congress in March 2013.

So, what are some promising new startups this year? Click ahead for a selection from Startup Open’s list."

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Entrepreneur: Matt Villarreal

Oklahoma, USA

CleanNG’s mission is to increase fuel range and efficiency of natural-gas and hydrogen vehicle fuel systems. The company’s first product is the MagmaCel Fuel Storage System, a next generation, liner-less composite pressure vessel for onboard storage of natural gas and hydrogen fuels. The MagmaCel reduces the weight and size of the fuel storage system while increasing storage capacity.

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