Over the past several months, President Obama has discussed the importance of providing funding opportunities to small business owners as one of the key ways to help turn our nation’s economy around.

Today, the U.S. Department of Energy is capitalizing on this statement with the announcement of $57 million in awards to 33 small business projects. This series of funding includes $11 million in Recovery Act funding for projects that support the commercialization of clean energy technology.

The 33 small business projects are based out of 16 states and while small businesses are at the helm of each project, many also include partners from larger businesses, local universities, and even national labs. The funding is provided through the DOE’s Small Business Innovation Research and Small Business Technology Transfer Programs. This is a phase three payout and so all of the companies that received funding with today’s awards are previous recipients of DOE funds.

The awards were granted to projects in several key clean technology areas including biomass, fuel cells, green building, solar, and vehicle technologies. In the biomass realm, Renewable Algal Energy in Kingsport, TN is receiving $2 million in funding for an algal biofuel harvesting/dewatering technology project.

Four different fuel cell projects received a total of $6.6 million in funding. These four projects will work on both advanced fuel cell materials as well as bio-fueled solid oxide technologies.

Awards in the vehicle technologies category will help the nation expand its electric and alternative fuel vehicle manufacturing capabilities. Three projects received a total of $7 million in funding for projects that will expand research into high performance permanent magnets for motors, advanced lightweight materials, and compact high temperature DC bus capacitors for use in electric vehicles.

To learn more about the projects listed here or to find a complete list of award winners, download the Project Selections for DOE Phase III XLERATOR Small Business Program (PDF) fact sheet.

DOE awards $57 million to small businesses
The U.S. Department of Energy awards $57 million to 33 small business projects.