US ARPA-E grant recipients attract $100 million in private funding
Washington (Platts)--30Aug2011/502 pm EDT/2102 GMT
A US Department of Energy program aimed at developing breakthrough
advanced energy technology is showing progress, with another five energy
companies that have received funding under the program attracting a total of
$100 million in investment from the private sector, Vice President Joseph
Biden said Tuesday.
The original DOE funding came through the agency's Advanced Research
Projects Agency-Energy, and totaled $15.5 million for projects ranging from a
radically new battery design to a new method for producing biofuels.
"These five companies are swinging for the fences, pioneering new
technologies that could help answer the energy challenge and create jobs,"
Biden said during a speech at the National Clean Energy Summit 4.0 in Las
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"They illustrate how a small, but strategic, investment by the federal
government can pay big dividends down the road and bring into the market
groundbreaking new technologies," he said.
The companies originally received ARPA-E support in 2009 and 2010 under
funding in the American Recovery and Reinvestment Act. The new private
funding will go to bringing the technologies to commercialization. In
February, Energy Secretary Steven Chu announced the first six companies under
ARPA-E to attract private financing.
In his speech, Biden framed energy technology investment as a
fundamental choice between maintaining global leadership or falling behind.
"If we shrink from deciding we want to lead in the area of alternative
energy, we will be making the biggest mistake this country has made in its
entire history," Biden said.
The companies Biden announced include:
-- Raleigh, North Carolina-based Phononic Devices, which received $11
million for a device that can directly transform waste heat from power plants
and vehicles into electricity;
-- Hayward, California-based Primus Power, which received $11 million in
private funds for its grid-scale "flow battery," which uses high-energy
fluids inside the battery;
-- Boulder, Colorado-based OPX Biotechnologies has attracted $36.5
million for a technology that uses bacteria to convert CO2 into biofuels
-- A Stanford University research project has gotten $25 million for a
new type of energy-storage device, and;
-- Goleta, California-based Transphorm has received $25 million in
private funding for an innovative semiconductor that can make electric motors
--Derek Sands, firstname.lastname@example.org