CSIT offering $1.5M in new round of Clean Tech Seed Grant Pilot Program

Latest funding round will make up to $75K available to companies furthering clean tech R&D

The New Jersey Commission on Science, Innovation and Technology will launch a $1.5 million Round 2 of its Clean Tech Seed Grant Pilot Program later this month.

Funding awarded through the program helps accelerate development and innovation of clean technologies by furthering research & development within the state’s clean technology startup community.

CSIT developed the program in coordination with the New Jersey Board of Public Utilities and the New Jersey Economic Development Authority. The application will be available here beginning on Jan. 24.

The Clean Tech Seed Grant Pilot Program provides grants for R&D activities to very early stage, New Jersey-based clean technology companies. These grants will help clean technology-focused businesses continue their work toward the proof of concept and prototyping stages, at which point they can more readily attract outside investors and, in some cases, begin to generate revenue.

Specifically, the program will fund projects that are developing or testing clean technologies intended to recapture or avoid emissions of greenhouse gases and/or criteria pollutants, or to enable such avoidance or recapture.

The following technology areas are eligible under the program: Chemicals/Advance Materials, Energy Distribution/Storage, Energy Efficiency, Energy Generation, Green Buildings, Transportation, Waste Processing, and Water and Agriculture.

This latest round offers double the amount of funding that was available in the initial round of the Clean Tech Seed Grant Pilot Program. CSIT awarded a total of nearly $750,000 to 10 companies statewide through the program’s first round last year.

“Startups within New Jersey’s clean technology industry are impacting the world in immeasurable ways,” CSIT Executive Director Judith Sheft said. “During the last round, we received applications from a broad range of companies throughout this crucial sector and we look forward to supporting even more young companies as they work toward commercialization and enter the global marketplace.”