On April 27, 2009, the Department of Energy announced the availability of up to $150 million of funding for research and development on transformational energy related technologies. The funding is being made available through the Advanced Research Projects Agency – Energy (ARPA-E), a newly-launched organization within the Department of Energy (DOE), and is intended to be distributed in individual awards of $500,000 to $10 million. The ARPA-E awards are specifically targeted at development-stage companies, and are intended to help these companies cross the proverbial “valley of death” between identifying a promising technology and developing it to the point where key risks are abated and commercial adoption is possible.
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