NYSERDA Will Fund Two New Cleantech Accelerators

NYSERDA Will Fund Two New Cleantech Accelerators - Carbon Herald

The New York State Energy Research and Development Authority (NYSERDA) announced the launch of two new clean energy technology accelerators expected to bring new innovations to the market. The accelerators will be located and administered in NextCorps in Rochester and NEX-NY in Brooklyn. 

“New York State is here to help energy innovators grow and thrive as we build stronger, cleaner communities to benefit all New Yorkers…” said Alicia Barton, President and CEO of NYSERDA.

The accelerators aim to help New York State achieve its goal of 85% reduction in GHG emissions by 2050 and put the city on the map as an energy innovation center. Governor Andrew M. Cuomo included in the 2019 budget the so-called Green New Deal – a clean energy agenda to make the State carbon neutral. According to the Deal, New York’s power will be 100% clean by 2040 and the renewable electricity share will be 70% by 2030.

NYSERDA’s goal is to expand the number of companies across all areas of cleantech innovation – renewable energy, carbon capture and storage, advanced buildings, fuel cells, smart grid, industrial energy efficiency, etc. It offers the new companies full support starting from the idea stage and going through full-scale market adoption.

Clean Energy Technology Gathering Pace

It already supports six clean energy business incubators located in New York State and its innovation programs foster local deployment of clean technologies. The NextCorps supported accelerator will be given $10 million over five years, with the goal to provide seed money for early stage startups to develop their products.

The accelerator in NEX-NY will receive $6 million over thirty months to facilitate existing high potential clean tech companies. It will provide support to companies to rapidly scale their products and expand their customer base.

Thanks to its innovation programs and initiatives, NYSERDA has succeeded to commercialize more than 440 new and improved clean energy products. The two new accelerators will help energy innovation jump-start the New York clean energy economy, especially after the pandemic when the US needs to move faster with the transition.

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