The Energy Department has announced that it will allocate more than $20M for 64 projects aimed at developing innovative energy technologies and promoting them to the commercial industry.
DOE will support teams of national laboratories and private sector companies through the Office of Technology Transitions’ Technology Commercialization Fund, which will also require private, non-federal entities to shoulder 50 percent of project funding, OTT said Wednesday.
Topic 1 projects funded by the fiscal 2018 TCF are technology maturation programs that focus on fostering participation from the private sector while Topic 2 programs aim to reinforce the commercial application of technology jointly developed by laboratories and private firms.
DoE received more than 100 applications for the TCF initiative.
Secretary of Energy Rick Perry said the public-private sector initiative will advance DoE's technology transfer goals in addition to “breaking down barriers and finding the nexus between ingenuity and opportunity.“
DoE established the TCF through the Energy Policy Act of 2005 in an effort to deliver the results of the department's research and development projects to the marketplace.