The Office of Naval Research (ONR) has announced it will increase its support for Energy Excelerator, a Hawaii-based program that funds development of new and innovative energy ideas. The program, part of ONR’s Asia-Pacific Technology and Education Program (APTEP), is an effort to discover groundbreaking energy technologies, and supports startup companies in bringing those technologies to the market.
ONR is investing an additional $30 million into the project that today, has 17 companies in its portfolio. Companies participating in the program have raised $38 million in additional funding over the past three years.
“In the modern era, technological breakthroughs offer unprecedented opportunities to move toward diversified energy sources,” said Dr. Richard Carlin, director of ONR’s Sea Warfare and Weapons Department. “It’s vital for our Sailors and Marines, and the nation, to discover and develop new sustainable sources of energy-as well as dramatically improve the way we manage energy.”
Hawaii is uniquely positioned for such research, experts say, with unparalleled wind, solar, bioenergy, wave and geothermal resources. Its population is also keenly aware of the need for alternatives to fossil fuels because the state is dependent on imported oil for its power and energy use, and residents face the highest electricity costs in the nation.Read More











