DOE earmarks $24M for technology commercialization

The Department of Energy (DOE) has earmarked $24 million to fund 77 projects supported by the Office of Technology Transitions (OTT) Technology Commercialization Fund (TCF).

“Technology transfer is an essential component of our mission at DOE, helping ensure we deliver the maximum return on the investment of the American taxpayer,” Secretary of Energy Rick Perry said. “Through the Technology Commercialization Fund, we are connecting entrepreneurs in the private sector with researchers at our National Labs to help deliver the innovations and technologies that will keep our nation secure, competitive and energy abundant.”

In accordance with matching funds from the private sector, the projects will advance energy technologies and strengthen partnerships between DOE’s National Laboratories and private sector companies to deploy the technologies to the marketplace.

“Working alongside the private sector through initiatives like the Technology Commercialization Fund ensures our innovators in the National Labs are plugged into the engine of our economy, American business,” Conner Prochaska, chief commercialization officer and OTT director, said. “The TCF creates an effective pathway to putting these lab-derived technologies to work and helps to maximize the impact of our research investment for the benefit of the entire nation.”

DOE received over 160 applications for 2019 TCF funding, with project teams engaging more than 90 different partners across multiple diverse disciplines.