Nine Companies to Receive Funding From New York State Energy Research and Development Authority

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On Monday, Oct. 26, the New York State Energy Research and Development Authority (NYSERDA) announced it will offer funding to nine New York-based energy storage companies in an effort to encourage even more research into energy storage and development.

According to a PV Tech article, each of the nine companies are expected to receive about $250,000 each in funding from NYSERDA. The money is intended to provide financial backing for alternative fuel vehicles, renewable energy sources and sustainable solutions for the energy grid.

The nine companies, all part of the New York Battery and Energy Storage Technology (NY-BEST) Consortium, will follow a “bench-to-prototype” model that aims to bring these energy solutions from the development stage to the marketplace, the Long Island Exchange reports.

One of the companies, Hollingsworth and Vose, primarily looks to improve the use and sustainability of lead acid batteries that typically power industrial forklifts, PV Tech reports. Lead acid forklift batteries contain corrosive chemicals that are harmful to both workplace personnel and to the environment if they aren’t contained and disposed of properly. NYSERDA’s funding will help the company look for ways to lessen the damage these lead acid batteries can cause while increasing their efficiency.

NYSERDA is providing funding to these companies as part of the state government’s push toward an energy industry based upon clean, renewable energy sources.

“These companies are accelerating our progress toward Governor Cuomo’s goals for building the clean-energy economy and making New York’s energy system more reliable, resilient and efficient,” John B. Rhodes, President and CEO of NYSERDA, said in a statement.

According to PV Tech, these $250,000 grants are expected to cover the pre-commercialization level of development — the companies will have to apply for more funding in the future in order to take their solutions to the marketplace.