M-Corps plan to bring climate technology to New York State – troyrecord

New York – Governor. Kathy Hochul recently announced over $3.7 million to bring innovative climate technologies or climate technology manufacturing and products to New York State.

The M-Corps program connects startups with local supply chain partners, manufacturers and suppliers to reduce greenhouse gas emissions or reduce energy consumption, while prioritizing connections to underserved communities. The announcement supports the state’s nationally leading Climate Leadership and Community Protection Act goal of reducing carbon emissions 85 percent from 1990 levels by 2050.

“As a climate leader, New York is actively partnering with companies that can bring new technologies to the table as we work to reduce greenhouse gas emissions and achieve our ambitious climate goals,” said Hochul. Companies join our growing green economy and connect them to manufacturing facilities across the state, including those located in underserved areas, to support economic opportunity and local supply chains as we continue our efforts to take responsibility for climate change. superior.”

The New York State Energy Research and Development Authority (NYSERDA) will competitively select a program administrator to work with NYSERDA to guide start-ups through key decisions related to the manufacturing development process. Administrators will facilitate supply chain relationships and partnerships, provide operational and programming support to climate technology startups, and connect them with local resources. Program administrators will receive up to $3.7 million in funding to assist in successfully bringing new products to market.

“Connecting global innovators with New York State resources provides game-changing support for entrepreneurs to improve Climate resilience and clean energy. Helping companies overcome manufacturing market barriers paves the way for success and can increase the number of sustainable products available to consumers, reducing harmful emissions.”

“Governor Hochul’s commitment to protecting and improving our environment has remained steadfast. As we look ahead to the rigorous goals set by the CLCPA, programs such as the M-Corps will play a critical role in developing a clean energy workforce in New York State,” said the New York State Public Service Commission Commissioner Rory M. Christian said.

“NYSERDA’s M-Corps program will help New York State achieve its ambitious climate goals through innovation and equity. By bringing together climate tech startups, local partners, and prioritizing underserved communities, these efforts benefit both environment, and building our green economy,” added Empire State Development President, CEO and Commissioner Hope Knight.

NYSERDA will accept applications from eligible organizations through January 1. April 2023. Applicants must demonstrate expertise in climate technology hardware and entrepreneurial commercialization, and must have local knowledge of New York State and relationships with New York manufacturers and suppliers.

For more information, register for the webinar on November 12th. 30th 2022 at 1pm

“As co-chair of the Climate Action Council, I am proud to continue working with Governor Hochul on a groundbreaking initiative to attract companies to our state’s leading green economy. This funding will help spur economic growth across New York State, And bring high-paying, green jobs to New Yorkers while protecting our planet,” said New York State Labor Commissioner Roberta Reardon.

This program supersedes the previous version of the M-Corps program supported by NYSERDA.

Since 2017, the NYSERDA Technology Marketplace Program has invested $107 million, supported nearly 500 clients, created more than 2,200 jobs, $1.6 billion in private and public investment, $600 million in startup revenue, and 300 products commercialize. In addition, the M-Corps Technology Program works closely with more than 50 peer companies that have raised over $400 million in funding and generated over $30 million in revenue over the four-year period.

Funding for the program comes from New York State’s 10-year, $5.3 billion Clean Energy Fund. For more information on this funding, visit NYSERDA’s website.

Source link