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U.S. Department of Energy (DOE) has announced over $24 million in funding, which will be awarded to 77 projects supported by the Office of Technology Transitions (OTT) Technology Commercialization Fund (TCF).

The department received over 160 applications for 2019 TCF funding, with project teams engaging more than 90 different partners across multiple diverse disciplines. Teams must receive a 50 percent match of non-federal funds from private partners to receive a TCF award.

With matching funds from the private sector, these projects will advance the commercialization of promising energy technologies and strengthen partnerships between DOE’s National Laboratories and private sector companies to deploy these technologies to the marketplace.

“Technology transfer is an essential component of our mission at DOE, helping ensure we deliver the maximum return on the investment of the American taxpayer, said U.S. Secretary of Energy Rick Perry.

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“Through the Technology Commercialization Fund, we are connecting entrepreneurs in the private sector with researchers at our National Labs to help deliver the innovations and technologies that will keep our nation secure, competitive, and energy abundant.”

“Working alongside the private sector through initiatives like the Technology Commercialization Fund ensures our innovators in the National Labs are plugged into the engine of our economy, American business,” said Chief Commercialization Officer and OTT Director Conner Prochaska. “The TCF creates an effective pathway to putting these lab-derived technologies to work and helps to maximize the impact of our research investment for the benefit of the entire nation.”