DOE $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies.

Green-GlobeWASHINGTON, D.C. – U.S. Energy Secretary Steven Chu announced that $30 million in funding from the Recovery Act and FY 2010 budget appropriations will be made available to qualified small businesses to support the commercialization of promising new technologies. Today’s funding announcement builds on the Department’s existing efforts under the Small Business Innovation Research program (SBIR) and the Small Business Technology Transfer program (STTR) to develop near-term clean energy technologies and support American small businesses that will play an important role in building the clean energy economy of the future. This is the first time DOE has offered Phase III awards under these small business programs.

“Small businesses are engines of job creation and innovation, and we need their ingenuity and entrepreneurial spirit to drive a clean energy economy,” said Secretary Chu. “By helping America’s small businesses bring these innovative technologies to market, we will spur economic growth and help reduce the country’s energy use.”

Small companies previously awarded Phase II grants through DOE’s Small Business Innovation Research program (SBIR) or the Small Business Technology Transfer program (STTR) are eligible. Projects that include developed technologies with a strong potential for commercialization and impact on U.S. manufacturing and job creation are encouraged to apply. Successful applicants may receive up to $3 million over 3 years to research, develop and deploy new technologies.

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Source: U.S. Department of Energy