DOE Invests $52M in Small Businesses to Drive Energy Innovation

The Department of Energy has awarded $52 million in grants to small businesses to drive research and development in the energy sector.

The Small Business Innovation Research and Small Business Technology Transfer programs will fund the projects from across 39 states, the DOE said.

A selection of 229 projects will be supported by various DOE offices. Most of the awards are for Phase 1 research and development, while some are combined Phase 1 and Phase 2 allocations, also known as Fast-Track.

Some of the chosen projects include Advanced Grid Technologies’ work on grid modernization and Resonant Link’s wireless charging for electric transit. While other projects will focus on advanced nuclear technology and sustainable aviation fuels.

Energy Secretary Jennifer Granholm said the small business investments, in line with President Joe Biden’s Invest in America agenda, will help foster an inclusive industrial strategy as the country transitions to a clean energy economy.

According to the DOE, the initial Phase I grants average $200,000 and last between 6 and 12 months. Small businesses can compete for further funding to develop prototypes or processes after successfully demonstrating the feasibility of their innovations in Phase I.