RICHLAND, WA – InnovaTek received word this week from the Department of Energy that it was one of 67 small businesses nationwide selected to receive an energy innovation grant. As part of National Small Business Week and to highlight President Obama's focus on small businesses as leaders in an economy built to last, U.S. Deputy Secretary of Energy Daniel Poneman today announced $11 million in innovative research and technology grants of up to $150,000. InnovaTek is one of 38 recipients whose work will focus on advancing energy efficiency and renewable energy technologies. The small businesses selected will be eligible to compete for a second phase of the program for awards up to $1 million over two years.
“The technology to be developed using this funding will help make it economically feasible to replace fossil fuels with renewable fuels for transportation by reducing capital and operating costs of the production facility” said Dr. Patricia Irving, InnovaTek’s Founder and CEO. “This is needed so that the cost of ‘green’ gasoline is competitive with petroleum fuels. Reduced usage of fossil fuels will improve environmental conditions, especially in large population areas as well as enhance energy security and sustainability by eliminating our dependence on foreign sources. Achieving independence from foreign oil, and thereby making the country less vulnerable to political instability in the oil producing regions of the Middle East, is perhaps our foremost energy issue.”
America’s transportation sector relies almost exclusively (94%) on refined petroleum products, accounting for over 70% of the oil used. Nearly 9 million barrels of oil are required every day to fuel the 247 million vehicles that constitute the U.S. light-duty transportation fleet. Biomass from agricultural residuals or non-food sources is a near-term alternative to oil that can be used for sustainable production of “green” liquid fuels. The goal of InnovaTek’s work is to improve the economics of biofuel production by developing catalysts, enzymatic extraction, and micro-structured processing technology. Wheat straw, a predominant agricultural waste in the Pacific Northwest, will be used as the biomass feedstock in the project.
"Small businesses are the backbone of our economy, employing half of all workers in America and creating two out of every three new jobs in the U.S.," said Deputy Secretary Poneman. "The grants and contracts announced today are just the latest step in the Energy Department's efforts to support the critical role that small businesses are playing in creating jobs for American workers and expanding our country's clean energy economy. These businesses are helping to reduce our dependence on imported oil and protect our air and water, while ensuring that the United States leads in the global clean energy race."
The 67 businesses that were selected were the winners out of 764 grant proposals that were submitted to DOE in response to this competitive funding opportunity. In addition to conducting its own proprietary research, InnovaTek will fund researchers in the Bioproducts, Sciences and Engineering Laboratory (BSEL) at Washington State University, Tri-Cities, to collaborate on the project.
About InnovaTek, Inc.
InnovaTek, Inc. provides engineering solutions and creates products for sustainable power. The Company is a leader in fuel processing technology and advanced catalysts for hydrogen production from petroleum and renewable fuels. InnovaTek’s vision is to use innovative non-combustion catalytic technologies to move the world away from wasteful fossil fuel combustion and toward clean, efficient electrical energy generation from renewable, sustainable biofuels, providing a path for a better quality of life for future generations. The Company is developing biofuel production technology and integrated fuel cell products for electric vehicles, auxiliary power systems and distributed energy applications. Learn more about InnovaTek at www.innovatek.com .