$1 Million for Innovative Clean Energy Firms

Sep 12, 2012 –
Boston

NOTE: The program information associated with this announcement has been updated.  For updated information, view the latest release.

The Massachusetts Clean Energy Center (MassCEC) today announced a new $1 million program to further the development of clean energy technology in Massachusetts.

Under the program, MassCEC will offer between $100,000 and $300,000 for projects designed to address energy challenges facing the Commonwealth – such as renewable energy optimization, fuel efficient vehicles or energy storage – and will require a 50 percent in matching funds. MassCEC will award the funds to help companies finance demonstration projects, which test and showcase new technologies in preparation to commercialize technologies for the marketplace.

“Massachusetts companies are creating some of the most leading-edge clean energy technologies. Our support will help them create local jobs across the state and expand the adoption of clean energy,” said Energy and Environmental Affairs Secretary Rick Sullivan.

“Helping our emerging companies bring new technologies to market is at the core of our mission to grow the Massachusetts clean energy economy,” said MassCEC CEO Alicia Barton-McDevitt. “Our investments in workforce development, incentives and commercialization are producing results including double-digit clean energy job growth in Massachusetts over the past year.”

Under the Patrick-Murray Administration's leadership, the Massachusetts’ clean energy economy grew by 11.2 percent from July 2011 to July 2012, according to the 2012 Massachusetts Clean Energy Industry Report, which shows the growing sector employs 71,523 people at 4,995 clean energy firms across the Commonwealth.

MassCEC will unveil the program details at the Global Clean Tech Meet-up set for October 15 through 18 in Boston and Cambridge. The Global Clean Tech Meet-up – an event sponsored by MassCEC, the Massachusetts Technology Transfer Center (MTTC), the New England Clean Energy Council and the Fraunhofer Center for Sustainable Energy Systems – is expected to draw 500 attendees from around the world including representatives from France, Japan, Israel, Canada, and Mexico.

The development of clean energy technologies requires a successful demonstration and validation of the technology in order to make it investable and ready for mass production.

With the idea of benefiting a large cross-section of the Massachusetts clean energy sector, under this program MassCEC will give preference to projects that involve multiple companies, research institutions and energy consumers, relationships that could be forged at the Global Clean Tech Meet-up. Potential co-applicants can meet and propose strategic partnerships to respond to the RFP at the Global Clean Tech Meet-up.

MassCEC will issue the program details including the topic areas in a Request for Proposals on October 1. MassCEC will host topic area sessions at the Global Clean Tech Meet-up on October 16 and 17. The first deadline for proposals is November 5 with the final applications due February 4, 2013.

“As a former CEO of a Massachusetts clean energy technology company, I know how important the demonstration phase of product development is and this funding opportunity fills a much-needed gap for early-stage companies,” said Mitch Tyson, Meet-up Executive Committee Member and Board Chair of the New England Clean Energy Council.

“The Global Cleantech Meet-up is the Commonwealth’s premier clean energy event that brings companies from all around the world to hear from and meet with the inspiring and leading voices of our clean energy ecosystem. I’m looking forward to seeing the business results of the connections made at the conference,” said Abigail Barrow, co-chair of the Meet-up and Founding Director of the MTTC.

“I applaud the MassCEC for their leadership in helping to build the energy industry in Massachusetts. This innovative funding program is a powerful way for energy companies to deploy and demonstrate their products and we look forward to seeing this program grow.  FastCAP Systems is a supportive participant in the Summit and this initiative has made our participation even more relevant this year,” said Riccardo Signorelli, CEO of FastCAP Systems.