Recovery Act Funds for Small Business Clean Energy Innovation
U.S. Energy Secretary Steven Chu announced that more than $18 million in funding from the American Recovery and Reinvestment Act (ARRA) will support small business’s ability to compete in the clean energy economy. These funds will target clean energy R&D, with an emphasis on near-term commercialization and job creation.
In the 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. The Department of Energy has selected these companies out 950 applicants. 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. Read more, here.