U.S. Sen. Cory Gardner (R-CO) on May 2 cosponsored the bicameral, bipartisan Energy Technology Maturation Act of 2019 to bolster the commercialization of new energy technology across the United States.
“This bipartisan bill will create jobs and grow the economy and continue to ensure the United States remains a global leader in technological innovation,” Sen. Gardner said last week.
If enacted, S. 1286 would support coordination between national laboratories and the private sector on such commercial endeavors, said Sen. Gardner, who introduced the measure with bill sponsor U.S. Sen. Martin Heinrich (D-NM). The companion bill, H.R. 2495, also was introduced on May 2 in the U.S. House of Representatives.
The bill specifically would authorize an Energy Technology Maturation Program at the U.S. Department of Energy (DOE) to facilitate successful commercial deals for laboratory-developed energy technologies and to boost regional, technology-driven economic impact, according to Sen. Gardner.
“The National Renewable Energy Lab headquartered in Golden, Colorado, along with other Department of Energy labs around the country, develop cutting-edge technologies that the public and private sector benefit from,” the senator said.
Sen. Gardner pointed out that for every $1 of taxpayer funds invested through the National Renewable Energy Lab, there is $5 of private investment that could ramp up the lab’s more than $1.1 billion nationwide annual nationwide economic impact.
Under the Energy Technology Maturation Program, federal funds would help increase the maturity of technologies developed at DOE facilities with the goal of attracting a private partner to support the technology’s next steps to commercialization, said Sen. Gardner’s office.
Also under the proposed program, funding would support development of a new technology in cases where a commercial partner already is involved and priority would be given to private-sector partnerships with small businesses, according to the text of the bill.