Building on President Barack Obama’s announcement last week that 45 projects from Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) have secured more than $1.25 billion in private sector follow-on funding, ARPA-E today announced the full list of projects that have received private sector investment at the seventh annual ARPA-E Energy Innovation Summit.
In addition, ARPA-E announced that 36 projects have formed new companies, 60 projects have partnered with other government agencies for further development and an ever increasing number of technologies have already been incorporated into products that are being sold in the market. This data demonstrates ARPA-E’s crucial role in supporting high potential, high impact technologies to the point where additional investment can be leveraged for continued development and deployment in the marketplace. The full list of ARPA-E projects announced today is available here: http://go.usa.gov/cvUQz.
“Since the first awards in 2010, ARPA-E projects have demonstrated tangible technical and market results for innovative energy technologies needed to spur America’s low-carbon economy,” said U.S. Energy Secretary Ernest Moniz. “Mission Innovation’s goal to double U.S. energy research and development includes a substantial expansion of ARPA-E funding, providing increased opportunities for private sector investment and accelerated technology deployment.”
To date, ARPA-E has invested approximately $1.3 billion across more than 475 projects through 30 focused programs and three open funding solicitations. Many ARPA-E projects have demonstrated early indicators of technical and commercial success. However, the urgency to drive down costs, develop new technologies and encourage public and private sector engagement to deploy clean energy solutions requires that the U.S. accelerate the pace for energy research and development. The Mission Innovation initiative will help accomplish this need.
In December, President Obama and 19 other world leaders launched Mission Innovation, a commitment to seek a doubling of their respective clean energy research and development investments over five years. The President fulfilled this commitment in his FY2017 budget proposal, including a 20 percent increase in new funding for ARPA-E and an additional proposal to create an ARPA-E Trust. The Trust will support development of larger-scale ‘investment-ready’ outcomes starting with $150 million in mandatory funding beginning in FY2017. Total ARPA-E funding would grow to more than $1 billion in FY2021.
THE SEVENTH ANNUAL ARPA-E SUMMIT
The seventh annual ARPA-E Energy Innovation Summit kicked off today at the Gaylord National Resort & Convention Center in National Harbor, Md. This year’s Summit is bringing together more than 2,000 attendees from academic, business and government. Featured keynote speakers will include Former Vice President, Al Gore, U.S. Energy Secretary, Ernest Moniz, U.S. EPA Administrator, Gina McCarthy, President of the World Bank Group, Dr. Jim Yong Kim, and industry leaders. The Technology Showcase will provide a first-hand look at the latest energy innovations including displays from more than 270 ARPA-E technologies – many appearing in public for the first time. Information on the ARPA-E Energy Innovation Summit is available here: http://www.arpae-summit.com(link is external).