Energy Department Provides $53 Million in Funding for Climate Change Tech

The Department of Energy added to recent investments in clean energy Thursday, announcing $53 million in funding for small businesses pursuing cutting-edge technologies to address climate change.

The funding is spread across 259 projects in 38 states and range from cybersecurity solutions, nanotechnology, renewable energy, energy storage, carbon capture, security and resilience and fusion energy. Energy’s push to provide investments in clean energy is part of President Joe Biden’s goal of achieving net-zero emissions economy-wide by 2050.

“Tackling the climate crisis and securing America’s economic competitiveness will require the full scope of American enterprise, especially the small businesses that are propelling clean energy advances,” Secretary of Energy Jennifer Granholm said in a statement. “These projects will not only unlock a range of equitable climate solutions, but also create good-paying jobs, lower costs and forge a better future for underprivileged American families and communities.”

The Small Business Innovation Research and Small Business Technology Transfer programs will administer the funding. Historically, Energy awardees of similar grants have reported more than $1.7 billion in sales, according to the department.