ARPA-E Awards Spark Industry Investment

The Department of Energy’s Advanced Research Projects Agency-Energy (ARPA-E) has spurred $625 million in private-sector funding for 22 energy projects. That comes from an initial government investment of $95 million for those projects, the agency said in an analysis released last week as part of ARPA-E’s annual Energy Innovation Summit. In addition, two dozen ARPA-E project teams have formed new companies based on technologies developed with support from the program. Another 16 project teams have joined with other government agencies to further develop their technologies. In total, ARPA-E has invested more than $900 million in 362 projects through 18 focused areas over the program’s lifetime. “As ARPA-E approaches its fifth anniversary, our projects are demonstrating tangible technical and market progress in transforming America’s energy future,” said ARPA-E Acting Director Cheryl Martin.