On June 26, 2024, the U.S. Division of Power’s (DOE’s) Water Energy Applied sciences Workplace (WPTO) opened a virtually $5 million funding alternative to assist packages that speed up the commercialization and adoption of water energy methods and options. This chance will assist programming and companies for entrepreneurs and small companies in hydropower and/or marine vitality.
Water energy applied sciences, together with hydropower and marine vitality, are key to reaching a clear electrical energy sector by 2035 and a net-zero-emissions economic system by 2050. These sources depend upon the motion and circulate of water and are typically predictable and dependable. This makes them well-suited to assist steadiness an electrical energy grid with greater ranges of variable renewable vitality like wind and photo voltaic.
This chance will fund tasks in a single matter space, Water Energy Incubation and Acceleration, centered on enabling entrepreneurship, accelerating water energy innovation, and supporting enterprise creation and progress in communities and areas all through the USA. Offering distinctive commercialization companies and assist to entrepreneurs and small companies within the water energy area can result in elevated competitors and innovation and enhanced financial improvement. Moreover, new or expanded incubators and accelerators will be capable to collaborate with each other and construct a stronger innovation community to speed up water energy applied sciences to market.
The funding alternative will include two phases. Within the first part, WPTO anticipates awarding as much as $100,000 every to as much as eight tasks, anticipated to final six to 9 months. WPTO will then choose as much as 4 of these tasks to maneuver onto the second part. These tasks can be eligible to obtain as much as $1 million every and are anticipated to final two to 3 years.
Candidates should submit an idea paper by 5 p.m. ET on Aug. 7, 2024, to be eligible to submit a full utility.
Study extra about this funding alternative and different funding alternatives inside DOE’s Workplace of Power Effectivity and Renewable Power (EERE).
