DOE Cites Recovery Act Benefits for Small Clean Energy Businesses
March 24, 2010
DOE released a new report on March 17 highlighting the benefits of the American Recovery and Reinvestment Act to small businesses throughout various clean energy industries, including wind and solar power, biofuels, and energy efficiency. Through early March, small businesses have been selected to receive nearly $5.4 billion in funding across a number of Recovery Act and related programs, including loans, loan guarantees, grants, contracts, and tax incentives. These funds complement the 2,800 loans totaling $656 million that the Small Business Administration approved for renewable energy businesses from 2006 to 2009.
A 100-kilowatt electric motor from UQM Technologies powers the all-electric CODA, which is expected to launch this year. Enlarge this image.
The report features 26 small businesses involved in a range of clean energy technologies, along with related infrastructure, such as Smart Grid technologies, advanced batteries, energy storage, and energy efficiency tools. Some success stories highlighted in the report include: UQM Technologies, Inc., a supplier of electric propulsion and generator systems, which received a $45 million Recovery Act grant to build manufacturing facilities for electric drive systems for use in electric and hybrid vehicles; Solazyme Inc., a 2003 start-up company producing biodiesel and green diesel from algae oil, which will use a $21.8 million Recovery Act grant under DOE's Biomass Program to build its first integrated algae fuel refinery; FloDesign Wind Turbine Corp., which won an $8.3 million grant from DOE's Advanced Research Projects Agency-Energy to develop its high-efficiency shrouded wind turbine; and Universal Display Corporation, which won a $4 million Recovery Act grant from DOE's Building Technologies Program, with the goal of establishing a pilot manufacturing line for organic light-emitting diodes, or OLEDs. See the DOE press release and the full report (PDF 241 KB). Download Adobe Reader.