LANSING – The Michigan Economic Development Corporation could begin receiving applications shortly for Centers of Energy Excellence grants after the Michigan Strategic Fund named it the manager for the program and approved the application process.
The program, $45 million over three years and $18.7 million for the current fiscal year, provides grants to energy technology development companies that are working directly with a state university to develop and commercialize the technology.
Under the measures adopted by the Strategic Fund at its meeting Wednesday, the MEDC will vet any applicants for the program, and successful applicants would go to the MSF for final approval.
Applications must include a business plan for the company, a cover letter explaining how much money is requested and what it is for, and a letter from a university committing to participate with the company in the program.
“This is really taking a new cut in trying to induce growth of new energy,” said MEDC CEO James Epolito. But he said the state still must adopt a renewable portfolio standard to complete the development package.
Money for the grants comes from the 21st Century Jobs Fund, itself generated by securitized tobacco settlement money to run economic development programs.
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