Memorandum of Understanding to Leverage Federal and State Investment in Clean Energy Research and Technology Innovation at Universities and Start-ups in the State
April 21, 2016
The New York State Energy Research and Development Authority (NYSERDA) today announced that it has signed a Memorandum of Understanding (MOU) with the U.S. Department of Energy's Advanced Research Projects Agency-Energy (ARPA-E) to work together to stimulate development of high-potential, high-impact clean energy technologies in the State.
Richard Kauffman, Chair of Energy and Finance for New York State and Chairman of the NYSERDA Board, said, "This partnership is a big win for the clean energy community across the state. By working together, we can develop strategies that continue to catalyze growth of clean energy businesses in New York State that can solve global energy challenges."
John B. Rhodes, President and CEO, NYSERDA, said, "This collaborationis an excellent opportunity for New York State to continue its leadership role in developing a vibrant clean energy economy. Combining the expertise at ARPA-E and NYSERDA brings together some of the most innovative minds in the country to support and develop impactful new clean energy companies and jobs."
Dr. Ellen Williams, Director, ARPA-E, said, "New York is a champion of energy innovation, and we look forward to collaborating with NYSERDA through this MOU to develop technologies that will create a more affordable, secure and sustainable American energy future."
NYSERDA and ARPA-E both support cutting-edge early-stage companies developing new ways to generate, deliver, store and use energy, with a focus on technologies that will transform the energy future.
The MOU strengthens Governor Cuomo's Reforming the Energy Vision strategy by supporting the development of innovative clean energy technologies that will grow clean energy jobs and foster a cleaner, more resilient and affordable energy system for all New Yorkers.
As announced today at New York's Advanced Energy Conference at the Jacob Javits Convention Center in New York City, under the MOU, NYSERDA and ARPA-E will focus on a broad range of technology areas including smart grid, energy storage, distributed and renewable energy resources, advanced buildings and 21st century transportation systems. In addition, through this agreement, NYSERDA is considering a co-funding arrangement to maximize and leverage both state and federal funds.
NYSERDA and ARPA-E will share successful and promising strategies to engage the financial community to invest in clean energy technologies, collaborate on the development of new program initiatives and identify opportunities to promote the development and deployment of clean energy innovations in the marketplace.
Both NYSERDA and ARPA-E provide funding, technical assistance and market readiness services to help clean energy start-ups and universities develop new energy solutions.
Since 2011, NYSERDA's Technology and Business Innovation group has supported 543 clean energy companies, institutions and local governments that have created 88 new products through $228 million of state investment that leveraged $541 million in private investment. Those companies and institutions have earned $120 million in revenue. Under the $5 billion Clean Energy Fund, NYSERDA has also committed more than $700 million to further advance successes already achieved by continuing to spur cutting-edge clean energy innovation to further accelerate the growth of energy efficiency, cleantech and a clean energy economy.
ARPA-E has already awarded more than $31 million to 16 New York State companies, universities and not-for-profits developing clean energy technologies, including Cornell University, Brookhaven National Laboratory, Bettergy a company in Peekskill, N.Y., that develops and commercializes innovative battery technologies for electric vehicle applications; and the City University of New York (CUNY).
About Reforming the Energy Vision
Reforming the Energy Vision (REV) is Governor Andrew M. Cuomo's strategy to lead on climate change and grow New York's economy. REV is building a cleaner, more resilient and affordable energy system for all New Yorkers by stimulating investment in clean technologies like solar, wind, and energy efficiency and generating 50% of the state's electricity needs from renewable energy by 2030. Already, REV has driven 600% growth in the statewide solar market, enabled over 105,000 low-income households to permanently cut their energy bills with energy efficiency, and created thousands of jobs in manufacturing, engineering, and other clean tech sectors. REV is ensuring New York State reduces statewide greenhouse gas emissions 40% by 2030 and achieves the internationally-recognized target of reducing emissions 80% by 2050. To learn more about REV, including the Governor's $5 billion investment in clean energy technology and innovation, please visit
www.ny.gov/REV4NY and follow us @REV4.
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 reliance on fossil fuels. NYSERDA professionals work to protect the environment and create clean-energy jobs. NYSERDA has been developing partnerships to advance innovative energy solutions in New York State since 1975. To learn more about NYSERDA’s programs and funding opportunities, visit nyserda.ny.gov or follow us on Twitter, Facebook, YouTube, or Instagram.