$95M in ARPA-E Funding Attracts $625M in Private Funding
At the Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) summit this week, the agency said that to date, 22 ARPA-E projects have been attractive enough to private investors that they have garnered more than $625 million in private-sector funding after ARPA-E’s investment of about $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 its five-year existence, 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, 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.
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