The State of Colorado Office of Economic Development and International Trade Awards Grants for Proof-of-Concept and Early Stage Capital and Retention
DENVER — December 20, 2013 — The Colorado Cleantech Industries Association (CCIA) announced today that the Colorado Office of Economic Development and International Trade has named the grant recipients for House Bill 13-1001, the Advanced Industries Acceleration Act, which was signed on May 15 by Governor John Hickenlooper. A total of $2,908,883 was awarded for both Proof-of-Concept and Early Stage Capital and Retention Grants to support key industries.
"The growth in advanced industries in Colorado is adding jobs and having statewide impact on our economy," said Governor John Hickenlooper. "Today's grant announcement demonstrates the state's continued support of innovation and growth in these sectors."
Colorado cleantech companies that have been selected to receive grants are Lightning Hybrids, Prieto Battery, Solid Power, Steelhead Composites and Sundolier. These companies were chosen for grants within the category of Early Stage Capital and Retention. Early-Stage Capital and Retention grants are capped at $250,000 and projects that focus on technologies that cut across multiple advanced industries qualified for additional funding.
"We are thrilled with the announcement that five cleantech companies will be awarded grants in this first round of the Advanced Industries program," said Chris Shapard, Executive Director of CCIA. "This was an extremely competitive process undertaken by seven different advanced industries sectors. To see our cleantech companies rewarded with these grants speaks volumes about the innovative nature of the industry and the economic development opportunities cleantech provides for the state."
This is the first round of grants for the bill, which will provide annual allocations of several million dollars per year for the next decade. The Advanced Industries financing supports seven industries driving the Colorado economy, including: energy and natural resources; advanced manufacturing; aerospace; bioscience; electronics; engineering; and information technology.
The second round of applications are now being accepted and are due on Jan. 2, 2014.
About Colorado Cleantech Industries Association
Founded in 2008, CCIA is a statewide, industry-led, industry-focused organization dedicated to promoting Colorado's cleantech industry. CCIA impacts Colorado's policies, people, products and programs that drive expansion of a cleaner, cheaper, more efficient and secure energy economy. Through advocacy, public policy leadership, development and education, CCIA works to ensure that Colorado is a global cleantech leader. For more information, visit http://www.coloradocleantech.com.