ARPA-E projects attract more than $625MM in private funding

Source:U.S. Department of Energy

The Department of Energy has announced that 22 ARPA-E projects have attracted more than $625 million in private-sector follow-on funding.

The Department of Energy’s Advanced Research Projects Agency – Energy (ARPA-E) has announced that the Agency’s innovative projects are making great strides towards transforming the way Americans use and produce energy.

To date, 22 ARPA-E projects have attracted more than $625 million in private-sector follow-on funding after ARPA-E’s investment of approximately $95 million. In addition, at least 24 ARPA-E project teams have formed new companies to advance their technologies, and more than 16 ARPA-E projects have partnered with other government agencies for further development.

Over the past five years, ARPA-E has played a critical role in answering the President’s call to develop a domestic, all-of-the-above approach to produce, store, and use energy.  To date, ARPA-E has invested over $900 million across 362 projects through 18 focused programs and two open funding solicitations (OPEN 2009 and OPEN 2012). In the past year alone, ARPA-E has launched focused programs to improve techniques to manufacture light-weight metals, develop robust battery chemistries and architectures for electric vehicles, biologically convert natural gas to liquids, create innovative semiconductor materials for improved power conversion, and use solar concentration techniques for hybrid solar converters.

“As ARPA-E approaches its 5th anniversary, our projects are demonstrating tangible technical and market progress in transforming America’s energy future,” said ARPA-E Acting Director Cheryl Martin. “The ARPA-E Summit provides project teams with an opportunity to showcase their accomplishments and to collaborate with other energy innovators to help reach the next stage of development through private-sector funding, new company formation, and strategic partnerships.”

Click here for the full list of ARPA-E projects that have secured private-sector funding, formed start-up companies and fostered public partnerships.

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