In a little over one year, six projects that received a total of $23.6 million in seed funding from the Department of Energy’s Advanced Research Project Agency – Energy (ARPA-E) have generated more than $100 million in outside private capital investment, Energy Secretary Steven Chu announced.
The six projects, which received between $750,000 and $8 million each, focus on improving solar and wind energy technologies and advanced battery storage. “This amount of private capital support indicates that the business community is hungry to invest in truly innovative solutions to the country’s energy challenges,” said Secretary Chu. “These game-changing projects are going to ensure America’s energy, economic and environmental prosperity is secure.”
