Portfolio Company Industrial Microbes Receives $100,000 from the U.S. Environmental Protection Agency (EPA)
September 2, 2015
We are very pleased to share that the U.S. Environmental Protection Agency (EPA) has awared $100,000 to our portfolio company Industrial Microbes to develop a green fermentation platform to replace carbon-emitting petrochemicals with new methods that build chemicals out of carbon dioxide and methane. Below is the official press release.
U.S. EPA Awards $100,000 to Emeryville, Calif., Small Business to Develop Sustainable Green Technologies
$1.9 million awarded nationwide to support green economy
SAN FRANCISCO– Today, the U.S. Environmental Protection Agency (EPA) announced $100,000 to Industrial Microbes located in Emeryville, Calif., to develop sustainable technologies that address environmental issues. A total of $1.9 million was awarded to 19 small businesses nationwide.
Industrial Microbes Inc. received the funding to develop a green fermentation platform to replace carbon-emitting petrochemicals with new methods that build chemicals out of carbon dioxide and methane. This new process will produce valuable chemicals for half the current production cost, helping reduce carbon pollution in chemical manufacturing.
“Thanks to this new green initiative, the Bay Area will be cleaner and safer for generations to come,” said Jared Blumenfeld, EPA’s Regional Administrator for the Pacific Southwest. “This small business is singlehandedly working on new technologies to help find solutions to environmental issues while strengthening the economy.”
Each of the 19 companies awarded nationwide will receive an SBIR Phase I contract for up to $100,000 to develop their green technology. Once the project is commercially viable, the companies are eligible to apply for a Phase II contract of up to $300,000 to further develop and commercialize their environmentally-friendly technology for the marketplace.
EPA’s Small Business Innovation Research (SBIR) program funds small businesses developing green technologies that protect the environment. This year’s recipients are focusing on air and climate, manufacturing, toxic chemicals, water, building materials, and homeland security research.
The solicitation for the next round of SBIR Phase I awards will open later in Sept. 2015.