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Funds will support development of the Midwest Innovation Bridge (the Bridge), a regional clean energy incubator. The Bridge will offer a suite of services for early-stage technology companies in Michigan, Illinois and the Midwest region.
Detroit, Mich. (PRWEB) June 24, 2014
NextEnergy and partner Clean Energy Trust have been awarded a $745,000, three-year grant from the U.S. Department of Energy Office of Energy Efficiency and Renewable Energy (EERE) for the National Incubator Initiative for Clean Energy (NIICE).
NIICE funds provide support to projects that advance the performance of existing clean energy business incubators and increase support and investment for early-stage companies developing high-risk technologies. Funds awarded to NextEnergy and strategic partner, Chicago-based Clean Energy Trust, will support development of the Midwest Innovation Bridge (the Bridge), a regional clean energy incubator. The Bridge will offer a suite of services for early-stage technology companies in Michigan, Illinois and the Midwest region.
We are overjoyed to receive a NIICE award, said NextEnergy President and CEO, Jean Redfield. This program will allow NextEnergy and Clean Energy Trust to strengthen support and connections for clean energy companies in the Midwest, catalyzing commercialization of clean energy technologies.
The Bridge will offer program-based incubation services including entrepreneurial training, technology partnerships and access to demonstration platforms to support three clean energy technology sectors, which include transportation, grid and built environment.
The Bridge will translate research and entrepreneurial innovation in the clean energy technology sector into products and services that benefit the broader population, improve energy security and drive economic growth in the Midwest. NextEnergy and Clean Energy Trust will use the Bridge to inform and address innovation across the clean energy value chain.
We are delighted to work with NextEnergy on this award, said CEO of Clean Energy Trust, Amy Francetic. With the support of our region's leading Fortune 1000 Corporations, the Bridge will ultimately advance clean energy innovation throughout the entire Midwest.
Founded in 2002 as 501(c)(3) nonprofit organization, NextEnergy is one of the nations leading accelerators of advanced energy technologies, businesses and industries. NextEnergy drives technology demonstration and commercialization; delivers industry and venture development services; and provides an authoritative voice in the public sector. Since its inception, NextEnergy has helped attract more than $1.3 billion of new investment in the state of Michigan, including programs in excess of $150 million in which NextEnergy has directly participated. For more information, visit nextenergy.org.
About the Clean Energy Trust:
CET, a 501(c)(3) nonprofit organization founded in 2010 with support from an EERE Innovation Ecosystem Development Initiative grant, has raised more than $5 million from the U.S. Department of Energy, the U.S. Small Business Association and 80 sponsor organizations to support multiple commercialization and mentorship programs serving the Midwest. In addition to developing and implementing its flagship Clean Energy Challenge business plan competition (funded by an EERE grant), CET has served 262 client companies, which have created 283 jobs; filed 41 patents or disclosures; raised $40 million in follow-on investment; and won first prize two years in a row at EEREs National Clean Energy Business Plan Competition. For more information, visit cleanenergytrust.org.
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