National Harbor, MD–(ENEWSPF)–February 26, 2013. Today, at the fourth annual Energy Innovation Summit of the Department of Energy’s Advanced Research Projects Agency – Energy (ARPA-E), Deputy Director Cheryl Martin announced that ARPA-E projects have demonstrated major technical successes and shown significant market engagement after just four years since the agency began catalyzing energy breakthrough technologies.
Reflecting the progress these projects have made toward developing new technologies that could transform the way Americans use and produce energy, 17 projects have attracted over $450 million in private sector follow-on funding after ARPA-E’s initial investment of approximately $70 million, 12 have leveraged their technologies to form new companies, and over ten have partnered with other government agencies for later stage investment.
“ARPA-E is changing what’s possible for America’s energy future as demonstrated by our projects’ technical successes and market engagement with both the private and public sector,” stated Deputy Director Cheryl Martin. “As seen here today at the fourth Annual Energy Innovation Summit, ARPA-E and the energy innovation community have embarked on a journey to convene great minds, form new companies, spur private investment and foster public partnerships.”
Building on the President’s call in his State of the Union address to further American energy independence through innovation, key thought leaders from academia, business, and government are coming together this week to discuss cutting-edge energy issues at ARPA-E’s fourth annual Energy Innovation Summit at the Gaylord Convention Center in National Harbor, Maryland.
Deputy Director Martin featured eight projects in her keynote address that highlight ARPA-E’s catalytic role in convening energy technology communities, building federal partnerships, and catalyzing company formation. Deputy Director Martin’s public remarks can be found HERE.
The full list of projects that have secured private sector funding, spurred start-up company formation, and fostered public partnerships is available HERE.
For more information about the Summit, please visit http://www.arpae-summit.com.
Source: energy.gov
