American Recovery and Reinvestment Act: Imminent Funding Opportunities for Clean Tech Companies But Funding Comes with Conditions

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The American Recovery and Reinvestment Act of 2009 represents the largest government stimulus package in U.S. history. As has been widely reported, President Obama has made the development and adoption of clean technologies a core goal of his policy initiatives. The Act allocates over $40 billion of federal funds to the Department of Energy (“DOE”) for various energy initiatives, including government grants specifically targeted to stimulate the development and adoption of clean technologies. Importantly, the Administration has also mandated that these funds be put to work quickly, with Secretary of Energy Chu stating that the DOE’s disbursement of recovery funds is intended to happen “in a matter of months, not years.”

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