DOE to Invest $18 Million in Small Business Clean Energy Innovation Projects
U.S. Department of Energy, November 24 2009
WASHINGTON, DC – U.S. Energy Secretary Steven Chu today announced more than $18 million in funding from the American Recovery and Reinvestment Act to support small business innovation research, development and deployment of clean energy technologies. In this first phase of funding, 125 grants of up to $150,000 each will be awarded to 107 small advanced technology firms across the U.S.
"Small businesses are drivers of innovation and are crucial to the development of a competitive clean energy U.S. economy," said Chu. "These investments will help ensure small businesses are able to compete in the clean energy economy, creating jobs and developing new technologies to help decrease carbon pollution and increase energy efficiency.
The companies were competitively selected from a pool of 950 applicants through a special fast-track process with an emphasis on near-term commercialization and job creation. Companies that demonstrate successful results with their new technologies and show potential to meet market needs will be eligible for $60 million in a second round of grants in the summer of 2010.