The new schemes will focus on advanced buildings, energy storage and fuel cells, smart grid, industrial energy efficiency, renewable electricity and fuels, and clean transportation
NYSERDA launches two clean technology accelerators worth $16m. (Credit: Pixabay/seagul)
The New York State Energy Research and Development Authority (NYSERDA) has launched two clean technology accelerator programmes for clean energy companies.
The schemes will provide seed funding and support services to clean energy companies looking to build or grow their clean energy business.
The new accelerators will focus on areas across all clean energy technologies and markets that include advanced buildings, energy storage and fuel cells, smart grid, industrial energy efficiency, renewable electricity and fuels, and clean transportation.
The accelerators are expected to contribute to the state’s aim to reduce 85% of its greenhouse gas emissions by 2050.
The accelerators will be administered by NextCorps in Rochester and NEX-NY in Brooklyn
NYSERDA President and CEO Alicia Barton said: “Under Governor Cuomo’s leadership, innovation will continue to play a crucial role in reducing greenhouse gas emissions and combating climate change.
“The accelerators send a strong signal to entrepreneurs and companies that think outside the box — New York State is here to help energy innovators grow and thrive as we build stronger, cleaner communities to benefit all New Yorkers, especially now, as we look ahead to jump-starting the economy following the Covid-19 pause.”
The accelerators will be administered by NextCorps in Rochester and NEX-NY in Brooklyn to expand the number of companies supported.
The NextCorps – supported accelerator will receive $10m over five years to provide seed money for early stage entrepreneurs building clean energy companies.
The scheme will create a statewide mentor and advisory network that will support the new startups in launching their products in the market.
The other accelerator will get $6m over 30 months to assist existing companies with commercialised products.
In October last year, NYSERDA signed contracts with Equinor Wind and Sunrise Wind to deliver a total of about 1,700MW of clean offshore wind energy to New Yorkers.