DOE to Invest $7 Million to Speed Clean Energy Commercialization

August 29, 2008

DOE announced on August 29 that it will invest up to $7 million to accelerate the process of moving clean energy technologies from DOE's national laboratories to the marketplace. The pre-venture capital funding will support activities such as prototype development, demonstration projects, and market research for technologies developed at the national laboratories. DOE's Argonne National Laboratory, Lawrence Berkeley National Laboratory, Lawrence Livermore National Laboratory, Los Alamos National Laboratory, Oak Ridge National Laboratory, Pacific Northwest National Laboratory, and Sandia National Laboratories will all receive between $500,000 and $1.5 million of commercialization funding.

DOE's national laboratories are at the forefront of renewable energy and energy efficiency technology research, and this funding will accelerate progress by encouraging private industry to partner with the national laboratories and ultimately bring new clean energy and energy efficiency technologies to the market. The funding is reserved for post-research technologies and will not be used to support any additional research and development. See the DOE press release and the DOE Office of Energy Efficiency and Renewable Energy's Commercialization Web page.