Investment Goes to Technologies Now in Development, Including those that Can be Used to Generate Electricity without Fossil Fuels
January 12, 2012
The New York State Energy Research and Development Authority (NYSERDA) is investing $1 million in four New York City and Long Island companies that are developing environmentally-friendly technologies to generate electricity while reducing fossil fuel use and greenhouse gas emissions.
The projects were part of a $7 million statewide incentive program announced earlier this year that has provided funding awards to 17 companies. Projects included fuel cells, solar panels, wind turbines, carbon-dioxide removal, energy storage, waste-heat-to-electric facilities, biogas and hydropower. In order to qualify for this competitive funding, applicants had to show how the new products made an improvement on existing technology. Funding will also pay for demonstration projects and promoting the results, further increasing the market for these products.
“By investing in clean energy power technologies, we are not only helping to improve power reliability and reduce electric costs but we are also helping to grow the state’s clean-energy economy,” said Francis J. Murray Jr., President and CEO of NYSERDA. “With the help of NYSERDA, these promising projects can lead to new technology that can greatly benefit our environment.”
New York City and Long Island projects:
Rentricity Inc., New York City – $300,000 to develop a high-tech, low-profile system to generate energy by using inherent pressure differential in water and industrial pipes. The company will partner with a Fortune 500 pump manufacturer located in New York State.
Energy Storage Solutions, New York City – $290,000 to develop a flywheel system for energy storage using low-friction, no-maintenance ball-bearing technology. The company is exploring one potential market for this technology: storing the energy created by elevators equipped by regenerative brakes. Using this technology, the elevators create energy when operating.
Cooper Union, New York City – $195,000 to evaluate the use of regenerative braking in the elevators of high-rise office buildings in New York City. This technology assessment will measure elevator energy use, develop a computer model to research regenerative braking potential and identify the barriers to achieving potential savings.
GASL Operations of ATK, Ronkonkoma – $200,000 in collaboration with ACENT Laboratories of Bohemia to continue the development and testing of a novel technology for carbon dioxide capture. The technology includes the use of a supersonic nozzle that turns CO2 into dry-ice particles, which can be separated and stored. This technique uses lower energy than conventional chemical CO2-capture processes available today.
Nearly 40 companies applied for funding in this competitive solicitation. Available funding per project around the state ranged from $200,000 to $1 million, with NYSERDA paying up to 50 percent of the cost of the project – thus leveraging the investment of private funds in New York-based businesses. In some instances, recoupment of NYSERDA funds will be required.
NYSERDA, a public benefit corporation, offers objective information and analysis, innovative programs, technical expertise and funding to help New Yorkers increase energy efficiency, save money, use renewable energy, and reduce their reliance on fossil fuels. NYSERDA professionals work to protect our environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York since 1975.
Last Updated: 05/14/2013