New Report on Benefits of Recovery Act for Clean Energy Small Businesses

The report highlights 26 small businesses in a range of clean energytechnologies, such as wind, solar, biofuels, along with critical newinfrastructure, like Smart Grid, advanced batteries, energy storage, and energy efficiency tools. It also notes small businesses that arehelping advance responsible environmental clean-up efforts.

“Small business are the backbone of job creation in this country andhave been a spring board for innovation in the clean energy sector,”said Secretary Chu. “The work these companies do and the innovation they produce will go a long way in helping our economy grow and our nationsucceed.”

Small businesses are and will continue to be the growth enginesdriving our nation’s economic recovery. Earlier this year, PresidentObama announced a proposal to take $30 billion of the money that wasrepaid by Wall Street banks and create a new Small Business Lending Fund that will provide capital for community banks on Main Street.

"Small businesses have created about 64 percent of the new jobs overthe past 15 years," said Small Business Administrator Karen Mills."Already, small businesses are one of the driving forces in the greenenergy sector. With resources like those provided through the Department of Energy and SBA, we have a unique opportunity to support the creation of good, well-paying jobs here at home that will also help keep America competitive."

Some success stories highlighted in the report include:

UQMTechnologies Inc. of Frederick, Colorado is awell-established supplier of prototype electric propulsion and generator systems, including electric rotating machines and drive electronics.

SolazymeInc. a San Francisco-based company, is a true start-upsuccess story. Founded in 2003, the company has pioneered a newtechnology to produce biodiesel and green diesel from algae oil. Likemost emerging technology companies, Solazyme faced a huge obstacle inobtaining adequate funds to commercialize its technology. However, with a $21.8 million ARRA grant under the Biomass Program, Solazyme will now be able to build its first integrated algae fuel refinery and help laythe foundation for subsequent large-scale development of an “advancedbiofuels” industry.

FloDesign Wind Turbine Corp. is a fledgling start-up that won an MIT clean energy competition last year. The company is developing a newhigh efficiency shrouded wind turbine capable of deliveringsignificantly more energy per unit of swept area. FloDesign Wind’s $8.3 million ARPA-E grant represents a major increase in resources for thecompany that will have a dramatic effect on its ability to ramp uptechnology development.

Universal Display Corporation was awarded a $4 million ARRA grant by DOE, under the Building Technologies Program (BTP) to scale andtransfer its technologies to a partner pilot organic light-emittingdiodes (OLED) manufacturing line to be set up in the U.S. Part of a new DOE initiative designed to help establish and maintain U.S. leadershipin solid-state lighting manufacturing, the funding will help UDC lay the foundation for the development of an OLED lighting industry in the U.S.

Original Article on EnergyBoom



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