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

NEW YORK – Governor Kathy Hochhol recently announced more than $3.7 million to bring innovative climate technologies or manufacture climate products and technology to New York State.

The M-Corps program will connect startups scaling up goods that reduce greenhouse gases or reduce energy consumption with local supply chain partners, manufacturers and suppliers while prioritizing connections in underserved communities. This announcement supports the state’s leading Climate Leadership and Community Protection Act goal of reducing carbon emissions by 85 percent from 1990 levels by 2050.

“As a climate leader, New York works aggressively with companies that can bring new technologies to the table as we work to reduce greenhouse gas emissions and achieve our ambitious climate goals.” “This initiative will attract companies to join our growing green economy and connect them to manufacturing facilities across the state, including those in underserved areas, to support economic opportunities and local supply chains as we continue our work to tackle climate change,” Hochul said.

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The New York State Energy Research and Development Authority (NYSERDA) will competitively select a Program Officer to work with NYSERDA to guide startups through key decisions related to the manufacturing development process. The official will facilitate relationships and partnerships in the supply chain, provide operational and programmatic support to climate technology startups and connect them with local resources. The program director will be awarded up to $3.7 million in funding to help successfully bring new products to market.

“Connecting global innovators to New York State’s resources provides entrepreneurs with game-changing support that can advance climate resilience and clean energy,” said Doreen M. Harris, president and CEO of New York State Energy Research. “Helping companies overcome market barriers to manufacturing paves the way to success. It can increase the number of sustainable products available to consumers and thus reduce harmful emissions.”

Governor Hoechul’s commitment to protecting and improving our environment has been unwavering. As we look to the rigorous goals set by the CLCPA, programs like M-Corps will play a key role in creating a clean energy workforce in New York State,” New York State Public Service Commission Commissioner Rory M. Christian said.

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New York State’s M-Corps Program will help New York State achieve its ambitious climate goals through innovation and equity. By bringing together climate technology startups, local partners, and prioritizing underserved communities, these efforts will benefit the environment and build our green economy.

NYSERDA will accept applications from eligible organizations through January 4, 2023. Applicants must demonstrate experience in climate technology devices and startup marketing and must have local knowledge of New York State and relationships with manufacturers and suppliers in New York.

For more information, register for the webinar that will be held on November 30, 2022, at 1 PM

“As co-chair of the Climate Action Council, I am proud to continue working with Governor Hochhol to implement ground-breaking initiatives that will draw businesses into our leading green economy nationwide. This funding will help spur economic growth across New York State, providing high-paying green jobs to New Yorkers while protecting Our Planet,” noted Roberta Reardon, Commissioner of the New York State Department of Labor.

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The software replaces previous NYSERDA supported versions of the M-Corps program.

Since 2017, NYSERDA Technology to Market has invested $107 million and supported nearly 500 clients, creating more than 2,200 jobs, $1.6 billion in private and public investment, $600 million in startup revenue, and 300 marketed product. In addition, M-Corps Technology Software has worked closely with more than 50 collective companies that, during those four years, have raised more than $400 million in capital and generated more than $30 million in revenue.

This initiative is funded by the state’s 10-year, $5.3 billion Clean Energy Fund. More information about this funding is available on the NYSERDA website.

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