Eight New York companies working on energy storage technologies will share in $2 million in new funding from the New York State Energy Research and Development Authority (NYSERDA).
The companies, located in Albany, Ithaca, New York City, Oneonta, Schenectady, Troy, and Williamsville, will each receive $250,000. The firms will use the money to develop technologies with proven feasibility into working prototypes, according to NYSERDA.
One of the firms, Primet Precision Materials, Inc. of Ithaca, is working on technology to lower the cost of key raw materials for lithium ion batteries, according to NYSERDA. That could allow for more integration of lower cost energy storage into the electric grid.
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A complete list of the companies receiving funding is available here.
“Energy innovation plays an important role in driving economic growth and helps advanced manufacturers remain competitive,” NYSERDA President and CEO Francis Murray said in a news release. “These eight recipients will leverage additional private investment for energy storage solutions developed in New York state. The state’s investment, under Gov. Cuomo, in these companies and research centers will reap rewards for New Yorkers not only today but for the next generation to come.”
Each of the eight companies must match NYSERDA’s funding.
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