The passing of the Advanced Industries Acceleration Act is a huge win for cleantech and a win for the Colorado economy.
Denver, CO (PRWEB) May 15, 2013
The Colorado Cleantech Industry Association (CCIA) today announced that Gov. John Hickenlooper will sign House Bill 13 – 1001, the Advanced Industries Acceleration Act, in Greeley, Colo. at 1:30 p.m. The bill provides for annual allocations of several million per year for the next decade including over $12 million next year in grants supporting seven advanced industries driving the Colorado economy including energy and natural resources.
Through this act, the Colorado Office of Economic Development will provide grants for clean technology projects based on the existing funding stream within the Clean Technology Discovery Evaluation Grant Program starting in 2014. The goal of the act is to grow the most promising technology sectors in Colorado by providing grant opportunities to energy and natural resources; advanced manufacturing; aerospace; bioscience; electronics; engineering; and information technology.
“Colorado’s future depends on these advanced sectors, and further innovation in cleantech will lead the way in spurring job growth and prosperity throughout the region,” said Chris Shapard, Executive Director of CCIA. “The passing of the Advanced Industries Acceleration Act is a huge win for cleantech and a win for the Colorado economy.”
The Advanced Industries Acceleration Act absorbed an existing clean technology grant program that is set to begin disbursing funds in Spring 2014. Companies that qualify will now be eligible for proof-of-concept grants (capped at $150,000), early stage capital and retention grants (capped at $250,000), and infrastructure grants (capped at $500,000). All three types of grants have a required matching component. Additionally, if a grantee qualifies for a “preference,” there are no caps on grant amounts.
“It takes innovation, capable leaders and financial capital to grow new cleantech companies that drive Colorado’s economic development and provide attractive employment opportunities. Our state is a technology innovation hub with its research universities and national labs. We have taken steps, such as the Cleantech Fellows Institute, to strengthen the leadership talent pool. With the passage of the Advanced Industries Acceleration Act, we are addressing the critical need for funding to create successful, growing cleantech businesses in Colorado,” said Chas Eggert, CEO of OPX Biotechnologies in Boulder and CCIA chair.
CCIA’s government affairs team is dedicated to supporting cleantech companies by testifying on behalf of its members and constituents in supporting or opposing appropriate bills during each State Legislative session. CCIA also writes legislation and actively lobbies lawmakers and the administration to benefit the Colorado cleantech ecosystem.
The Colorado Cleantech Industry Association represents the interests of the state’s advanced energy companies and innovative energy consumers. Its mission is to further establish Colorado as a world leader in advanced energy use and production by providing representation and advocacy, a unified voice, relevant programming, and capacity development. For more information, visit http://www.coloradocleantech.com.