U.S. Deputy Secretary of Energy Daniel Poneman announced todau in Fayetteville, Arkansas: $11 million in innovative research and technology grants of up to $150,000 to nearly 70 small businesses nationwide. He also highlighted that over the past year, the Energy Department supported $8 billion in contracts to over 7,000 small businesses.
Deputy Secretary Poneman made the announcements during a tour of Arkansas Power Electronics International (APEI), a small business that received one of the Small Business Innovative Research grants of $150,000. APEI develops state-of-the-art technology in power storage systems for electric vehicles and other clean energy technologies.
“Small businesses are the backbone of our economy, employing half of all workers in America and creating two out of every three new jobs in the U.S.,” said Deputy Secretary Poneman. “The grants and contracts announced today are just the latest step in the Energy Department’s efforts to support the critical role that small businesses are playing in creating jobs for American workers and expanding our country’s clean energy economy. These businesses are helping to reduce our dependence on imported oil and protect our air and water, while ensuring that the United States leads in the global clean energy race.”