New York launches $16m fund for clean energy businesses

The New York State Energy Research and Development Authority (NYSERDA) has launched two clean technology accelerator programmes worth $16m. The state-wide schemes will offer seed funding and support for clean energy companies looking to grow their business. The new accelerators will focus on renewable electricity and fuels, clean transportation advanced buildings, smart grids, industrial energy efficiency, energy storage and fuel cells. One will be administered by Rochester-based start-up incubator NextCorps and will receive $10m over five years to support early-stage entrepreneurs. The other will be run by New York’s New Energy Nexus accelerator programme and will get $6m over thirty months to support existing companies with commercialised products. “New York State is here to help energy innovators grow and thrive as we build stronger, cleaner communities to benefit all New Yorkers, especially now, as we look ahead to jump-starting the economy following the Covid-19 pause,” said NYSERDA chief executive Alicia Barton.