This past October, the U.S. Department of Energy's ARPA-E (Advanced Research Projects Agency-Energy) program gave $151 million to so-called "moonshot" green tech companies that are working on projects that might not otherwise have a prayer in today's investing climate. Now ARPA-E is back again with another $100 million in funding for companies working on fuel, carbon capture, and long-range electric vehicle battery technology.
The first round of funding offered up cash for companies devoted to everything from algae harvesting to liquid metal batteries. But this second round is much more specific—applicants are required to be working in one of three areas: advanced carbon capture technology for coal-fired power plants, long-range batteries for lightweight electric vehicles, and liquid transportation fuels derived from CO2 and sunlight.
Not working in one of these areas but still think your company deserves a chance from ARPA-E? Not to worry. The agency has a total of $400 million to give out in the next two years. But for anyone hoping to apply for the second round, applications are due by January 15.