California Wave Power Technologies, LLC Awarded Competitive Grant from the National Science Foundation
Small Business Innovation Research Program Provides Seed Funding for R&D
Berkeley, CA, December 2, 2016 – California Wave Power Technologies, LLC has been awarded a National Science Foundation (NSF) Small Business Technology Transfer (STTR) to conduct research and development (R&D) work on a component advancement of a Power Conversion Chain for Wave Energy Converter technologies.
Wave energy is produced by converting the energy from waves into electricity. Since 50% of the U.S. population lives within 50 miles of coastlines, energy captured from ocean waves provides a vast potential for clean, renewable electricity to communities and cities. It is estimated that the technically recoverable wave energy resource is approximately 1,170 terawatt hours (TWh) per year, distributed across Alaska, the West Coast, the East Coast, the Gulf of Mexico, Hawaii, and Puerto Rico. Developing just a small fraction of the available wave energy resource could allow for millions of American homes to be powered with this clean, reliable form of energy.
“The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Barry Johnson, Director of the NSF’s Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.”
“It is an honor for our team to be supported by the National Science Foundation and to further our close and fruitful collaboration with our research partner, the Theoretical and Applied Fluid Dynamics Laboratory and the Department of Structural Engineering, Mechanics and Materials (SEMM), Civil and Environmental Engineering at the University of California, Berkeley.” – Marcus Lehmann, PI
Once a small business is awarded a Phase I SBIR/STTR grant (up to $225,000), it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.
NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
To learn more about the NSF SBIR/STTR program, visit: www.nsf.gov/SBIR.
About the National Science Foundation’s Small Business Programs: The National Science Foundation (NSF) awards nearly $190 million annually to startups and small businesses through the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program, transforming scientific discovery into products and services with commercial and societal impact. The non-dilutive grants support research and development (R&D) across almost all areas of science and technology helping companies de-risk technology for commercial success. The NSF is an independent federal agency with a budget of about $7 billion that supports fundamental research and education across all fields of science and engineering.