The U.S. Department of Energy (DOE) on May 18 announced funding of $53 million for small businesses to address climate change.
According to a news release from the department, the funding supports 259 projects throughout 37 states. Security and resilience, renewable energy, energy storage, carbon capture and conversion and fusion energy are some of the projects covered by the funding.
“Tackling the climate crisis and securing America’s economic competitiveness will require the full scope of American enterprise, especially the small businesses that are propelling clean energy advances,” said Secretary of Energy Jennifer Granholm, according to the release. “These projects will not only unlock a range of equitable climate solutions, but also create good-paying jobs, lower costs, and forge a better future for underprivileged American families and communities.”
According to the release, the development of energy solutions reflects President Biden’s plan to achieve a net-zero carbon economy by 2050.
Several lawmakers, including U.S. Sens. Chris Murphy (D-Conn.), Mazie Hirono (D-Hawaii) and Ben Ray Luján (D-N.M.) issued statements via the release regarding the new funds.
“If we’re serious about tackling the existential threat of climate change, we need to get smart about investing in creative solutions," Murphy said, according to the release. "Connecticut's small businesses are leading the way, and I’m glad to see the Department of Energy supporting these companies and their innovative work to make a clean energy future our reality.”
“Hawaii has long been a leader in the transition to clean energy, and this funding will help build on that leadership,” Hirono said, according to the release. “These grants will enable small businesses and entrepreneurs to innovate ways to produce affordable energy from renewable sources. As we work to protect our environment, I’ll continue to support community-based programs like this that provide entrepreneurs the resources they need to develop sustainable solutions to our climate crisis.”
Lujan added, “Small businesses drive our economy forward while serving as critical hubs for innovation and research. It’s critical these businesses have the support needed to pursue and develop technologies that address 21st-Century challenges. That’s why I’m glad this Department of Energy funding will invest in New Mexico small businesses to help discover technological breakthroughs to combat the climate crisis in New Mexico and across the country.”
The funding comes from DOE’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs, according to the release.
The programs will fund “technological innovation, encourage participation of diverse communities and facilitate technology transfer between research institutions and small businesses,” the release states.
According to the release, award recipients have reported more than $1.7 billion in sales as a direct result of SBIR/STTR awards.
