US Department of Energy creates office to manage $20m commercialisation fund aimed at developing university-led energy technologies.
The US Department of Energy (DOE) has established a centre to further capitalise on technologies generated through its collaboration with universities.
The Office of Technologies Transitions will seek to act as a middle man to universities and industry with a view to develop more energy-related technologies, and will also manage a $20m fund to support development.
The Energy Technology Commercialisation Fund, established in 2005, capitalises on opportunities stemming from the $10bn DOE spends on research and development at universities and federal laboratories.
Ernest Moniz, US secretary of energy, said: “Through technology transfer, commercialization, and deployment activities, the Department of Energy has made significant contributions to economic growth in the United States. The Office of Technology Transitions will give the Department the opportunity to increase the American people’s return on investment in federally-funded science and energy research.”
