If you’re in the green technology industry and are in need of financial backing, now might be a good time to ask the U.S. Department of Energy for a few bucks: around the same time the DOE distributed $62 million among various concentrating solar power (CSP) projects, DOE Under Secretary Kristina Johnson announced another $60 million will be made available via the American Recovery and Reinvestment Act to support innovations toward clean energy technology being made by small businesses.
Not just any small business in the green tech field is eligible for funding, however. According to the DOE, “this is a Phase II funding opportunity under the Department’s Small Business Innovation Research/Small Business Technology Transfer program for companies that have already demonstrated successful results with new technologies and can now show potential to meet market needs.”
During Phase I, the DOE selected small advanced technology businesses from a pool of 950 applicants. One hundred twenty-five grants for as much as $150,000 apiece were awarded to 107 businesses across the U.S. Under Secretary Johnson stated that the second funding opportunity should provide a boost to businesses by moving along their research and creating more jobs.