TRENTON, N.J. (October 14, 2020) – The New Jersey Economic Development Authority (NJEDA) today approved entering into a Memorandum of Understanding (MOU) with the Commission on Science, Innovation and Technology (CSIT) to develop and implement two programs designed to further research and development (R&D) within the state’s clean technology startup community. CSIT approved entrance into this MOU at its Board meeting this past Friday.

The NJEDA previously entered into an MOU with the New Jersey Board of Public Utilities (NJBPU) for the NJBPU to provide $1.25 million in funding for the creation of a Cleantech Seed Grant Program and a Clean Technology R&D Asset Voucher Program. Under the MOU approved today, NJEDA and CSIT will collaborate to develop these programs, both of which are important steps toward achieving Governor Phil Murphy’s goal of attaining 100 percent clean energy for New Jersey by 2050.

The Cleantech Seed Grant Program will provide grants for R&D activities to very early-stage, New Jersey-based clean technology companies. These grants will help businesses to continue their work into the proof of concept and prototyping stages, at which point they can more readily attract outside investors and, in some cases, begin to generate revenue.

The Clean Technology R&D Asset Voucher Program will help facilitate greater access to testing equipment and specialized fabrication equipment by subsidizing the cost of a startup’s access to these assets. The program will help stimulate the asset-sharing marketplace and encourage more standardized approaches to pricing, certifications/training and usage agreements. The goal of this program is to increase awareness, access, and utilization of the State’s physical clean technology innovation-related assets.

NJEDA and CSIT anticipate launching the applications for each of these programs in early 2021.

"By tapping into the NJEDA’s experience in developing and implementing programs and CSIT’s close relationships with New Jersey’s clean technology community, the Cleantech Seed Grant Program and the Clean Technology R&D Asset Voucher Program could be game-changers for the future of New Jersey’s clean technology landscape," said CSIT Chairman Gunjan Doshi.

Earlier this year, Governor Murphy unveiled the state’s Energy Master Plan, which outlines key strategies to reach the Administration’s goal of 100 percent clean energy by 2050. In May 2018, Governor Murphy’s Executive Order No. 28 directed the New Jersey Board of Public Utilities, in partnership with other state agencies, to develop this statewide clean energy plan and shift away from energy production that contributes to climate change.

"Under Governor Murphy’s leadership, New Jersey has already made tremendous strides in leveraging the knowledge and talent of our robust innovation economy to increase the availability of renewable energy," said NJBPU President Joseph L. Fiordaliso. "The programs announced today will serve to strengthen the startup community’s ability to contribute to this vital process."

The Energy Master Plan laid out ways to fuel the clean technology economy through workforce training, investments in developing clean energy knowledge, and the growth of world-class R&D.

"Governor Murphy’s Energy Master Plan identifies steps necessary to simultaneously strengthen our economy and invest in the sustainability of our environment," NJEDA Chief Executive Officer Tim Sullivan said. "Growing New Jersey’s world-class R&D is a critical piece of that strategy. The close collaboration between the NJEDA and CSIT on these programs will help position the State’s cleantech sector for growth and industry leadership."

About CSIT

In August 2018, Governor Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the CSIT. Comprised of representatives from the public and private sectors, as well as academia, the Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization.

About NJEDA

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about state resources available to New Jersey entrepreneurs and early-stage companies, visit https://www.njeda.gov/tls or follow @NewJerseyEDA on Twitter, Facebook, LinkedIn and Instagram.

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TRENTON, N.J. (September 9, 2020) – The New Jersey Economic Development Authority (NJEDA) and the New Jersey Board of Public Utilities (NJBPU) today approved two Memoranda of Understanding (MOUs) that will make nearly $6 million available to support offshore wind and other clean energy projects in the State. Under the agreements, New Jersey’s Clean Energy Program™ (NJCEP), which is administered by NJBPU, will provide $4.5 million to support NJEDA-led workforce development projects aimed at preparing more New Jersey workers for jobs in offshore wind, and $1.25 million to support early-stage, New Jersey-based cleantech companies.
 
“Ever since Governor Murphy took office, we have been moving at a whirlwind pace on offshore wind, and especially with the twin crises of COVID-19’s economic devastation and climate change, we are not slowing down any time soon. Fueling our clean energy renaissance will be renewables like offshore wind, and since these industries don’t build themselves, we couldn’t be prouder to be developing a homegrown, inclusive, world-class workforce of cleantech and offshore wind technicians right here in the Garden State. New Jersey has the wind, and the time to get in on our new innovation economy – located in the strong winds right off our 130-mile coastline – is now,” said NJBPU President Joseph L. Fiordaliso.
 
 “Clean energy is the future and positioning New Jersey to lead the way in offshore wind and other clean energy initiatives is crucial not only to growing our state’s economy, but also to creating good jobs and business opportunities for workers and business owners in New Jersey,” said NJEDA Chief Executive Officer Tim Sullivan. “The NJEDA’s partnership with the NJBPU will prepare New Jersey students and workers for clean energy jobs coming to our state and help innovative New Jersey companies lead in the clean energy and cleantech space. These are important steps that will support workers and companies impacted by the COVID-19 pandemic and pave the way for a strong, sustainable recovery.”  
 
Both Governor Phil Murphy’s ambitious New Jersey Energy Master Plan released earlier this year and his visionary Stronger and Fairer Economic Plan identify offshore wind and clean energy as target sectors that have strong potential to drive long-term, sustainable economic growth in New Jersey. In line with these plans, New Jersey has committed to producing 7,500 megawatts of offshore wind energy by 2035 and a wave of offshore wind projects is slated for development along the East Coast, with the first project – Ørsted’s Ocean Wind –  coming online in 2024.
 
Earlier this year, the Governor’s WIND Council released a report outlining recommendations for the creation of the WIND Institute to coordinate workforce and innovation efforts to position New Jersey as a leader in offshore wind and to ensure equitable access to opportunities in this new and expanding industry for minorities and women. With the MOUs approved today, the NJEDA and NJBPU will jumpstart progress toward implementing these recommendations with a total of $5.75 million in funding.
 
The first MOU provides $4.5 million to support offshore wind workforce development projects. Examples of these programs include: a competition to develop the first Global Wind Organization (GWO) safety training program in the Mid-Atlantic region; best-in-class wind turbine technician training programs; a plan to establish pathways for New Jersey students and workers to enter the offshore wind industry; and seminars about offshore wind job creation for labor unions, high schools, vocational technical schools, colleges, and universities so that students, energy workers, and job seekers can train to work in the industry.
 
In the second MOU, NJBPU will provide $1.25 million to fund programs supporting innovative, early-stage cleantech companies in New Jersey. The NJEDA plans to use this funding in partnership with the New Jersey Commission on Science Innovation and Technology (NJCSIT) to develop a seed grant program that will aid local cleantech businesses during critical proof of concept and prototyping stages. The NJEDA also intends to execute a research and development asset mapping and voucher initiative to increase equitable access to and utilization of the State’s existing cleantech innovation programs and initiatives.
 
The funding will be utilized immediately, with the aim of establishing operational programs by mid-2021.
  
 
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness. To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, LinkedIn and Instagram.
 
 
About the New Jersey Board of Public Utilities (NJBPU)
 
NJBPU is a state agency and regulatory authority mandated to ensure safe, adequate and proper utility services at reasonable rates for New Jersey customers. Critical services regulated by NJBPU include natural gas, electricity, water, wastewater, telecommunications and cable television. The Board has general oversight and responsibility for monitoring utility service, responding to consumer complaints, and investigating utility accidents. To find out more about NJBPU, visit our website at www.nj.gov/bpu, and follow NJBPU on Facebook, Twitter, LinkedIn, YouTube, and Instagram.
 
About New Jersey’s Clean Energy Program (NJCEP)
 
NJCEP, established on January 22, 2003, in accordance with the Electric Discount and Energy Competition Act (EDECA), provides financial and other incentives to the State's residential customers, businesses and schools that install high-efficiency or renewable energy technologies, thereby reducing energy usage, lowering customers' energy bills and reducing environmental impacts. The program is authorized and overseen by the New Jersey Board of Public Utilities (NJBPU), and its website is www.NJCleanEnergy.com. You can follow NJCEP on Facebook and Twitter.
 
 

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TRENTON, N.J. (July 10, 2020) – As part of its efforts to establish New Jersey as a zero emission transportation hub, the New Jersey Economic Development Authority (NJEDA) today issued a Request for Information (RFI) seeking perspectives on electric medium and heavy-duty vehicles (MDHVs). Input from industry and communities will help to inform the use of proceeds from the Regional Greenhouse Gas Initiative (RGGI), which are earmarked for climate change reduction, environmental justice and clean energy. Responses to the RFI are due no later than 5:00 PM EST on August 14th, 2020. The RFI is available at /wp-content/uploads/pdfs/rfps/RFI098/2020-RFI-OET-TL-098_Commercial-ZE-MHDV_200709.pdf
.
 
“With its strategic location along the North East corridor and extensive transportation assets, including the nation’s second busiest port and second densest road and rail network, New Jersey depends more than any other state on its ability to move people and goods safely, efficiently, and cleanly. Transportation electrification will help protect New Jersey residents from harmful emissions and pollutants that disproportionately impact environmental justice communities, and will create new opportunities for businesses and workers,” said NJEDA Chief Executive Officer Tim Sullivan. “The RFI released today will allow us to hear directly from commercial vehicle owner-operators, manufacturers, related supply chain businesses, and community representatives about their plans and needs so we can craft the right programs to accelerate electrification and localize investment. This is particularly pressing now, as we work to address the health and economic impacts of COVID-19.”
 
On January 29, 2018, Governor Murphy signed Executive Order 7 (EO 7), instructing state government agencies to return New Jersey to full participation in the Regional Greenhouse Gas Initiative (RGGI).  RGGI is a multi-state, market-based program that establishes a regional cap on carbon dioxide (CO2) emissions from the electric power generation sector allowing for auctioning of emissions rights. New Jersey’s participation in RGGI will provide the State with quarterly auction proceeds that are divided among the NJEDA, New Jersey Department of Environmental Protection (NJDEP), and New Jersey Board of Public Utilities (NJBPU).  The State’s inaugural RGGI strategic funding plan, released in April 2020, includes plans to invest an estimated $80 million each year in programs that reduce greenhouse gas emissions, drive forward projects that boost clean energy and create jobs, protect the health of residents in environmental justice communities, and increase the resiliency of coastal communities.
 
“Helping New Jersey become a zero emission vehicle state is necessary to avoid the worst impacts of climate change.  It is also important to improve air quality, especially in communities already overburdened by pollution,” said NJDEP Commissioner Catherine R. McCabe. “Currently, transportation accounts for the largest share, more than 40 percent, of greenhouse gas emissions in New Jersey. The RFI released by the NJEDA today is a critical step toward crafting new programs that will build on the Murphy Administration’s efforts to reduce these emissions, to protect our communities and economy from the harmful effects of climate change.”
 
Electrifying New Jersey’s commercial transportation sectors will play a central role in achieving Governor Murphy’s goal of reducing GHG emissions 80 percent by 2050, which is a major component of the New Jersey Energy Master Plan. In addition to the environmental benefits, cleaning New Jersey’s transportation fleets will also create new jobs and attract investments in the Garden State. Some reporting has assessed that the electric vehicle supply chain market is worth more than $160 billion globally and is growing at a compound rate of close to 25 per cent each year. Tapping into this market will provide significant economic benefits for businesses and workers in New Jersey.
 
“Increasing the use of zero emission medium and heavy-duty vehicles in New Jersey will improve public health by cutting down on dangerous emissions, reduce electricity costs for all by using the grid more efficiently, and protect consumers from unpredictable fuel costs,” said NJBPU President Joseph L. Fiordaliso. “The information gathered through this RFI will move us closer to achieving Governor Murphy’s goal of 100 percent clean energy and will ensure the State provides the right support industry and businesses need to quickly adopt zero emission MHDVs.”
 
The RFI released today solicits input from owners, operators, manufacturers and other supply chain businesses, environmental justice advocates, impacted communities, researchers, and other stakeholders to help inform future programming based on RGGI auction proceeds.
 
Responses to the RFI must be submitted via e-mail to: RFI-MHDVelectrification@njeda.com no later than 5:00 PM EST on August 14th, 2020 with the subject line “RFI Response-2020-RFI-OET-TL-098.”
 
All questions concerning the RFI must be submitted via e-mail to: RFI-MHDVelectrification@njeda.com no later than 5:00PM EST, on July 22nd, 2020 with the subject line “Questions-2020-RFI-OET-TL-098.” Answers will be publicly posted on the Authority’s website on or about July 24th, 2020 at: https://www.njeda.gov/Bidding-Opportunities-General/Economic-Transformation-RFIs.
 
Related Work and Procurements
 
In parallel to the RFI, the NJEDA recently issued a Request for Qualifications/Proposals (RFQ/P) for zero-emission MHDV market study and programmatic consulting services. The complete RFQ/P is available at https://www.njeda.gov/IPMBidding#104.
 
 About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
 
 
To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
 
 

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Encourages Research Collaboration Between New Jersey and Israel

Newark, N.J. (May 14, 2020) – The New Jersey Commission on Science, Innovation and Technology (CSIT), the New Jersey Economic Development Authority (NJEDA), and the New Jersey – Israel Commission today encouraged businesses and researchers within the Garden State’s clean energy sector to submit proposals for “BIRD Energy” grant funding of up to $1 million. Entities partnering with an Israeli company or university on a clean-energy project can get more details about the competitive funding opportunities at https://www.birdf.com/bird-energy-call-proposals/. Executive summaries for the proposals are being accepted through June 30, 2020. 

BIRD Energy is a collaborative effort between the U.S. Department of Energy (DOE), the Israel Ministry of Energy, the Israel Innovation Authority and the Israel – U.S. Binational Industrial Research and Development (BIRD) Foundation.

“Governor Phil Murphy unveiled an ambitious Energy Master Plan earlier this year that sets New Jersey on a course to 100 percent clean energy by 2050,” said Brian Sabina, NJEDA Senior Vice President, Office of Economic Transformation “BIRD Energy funding can help small businesses and researchers in New Jersey’s innovation ecosystem play a major role in attaining that ambition.”

To be considered, a project proposal should include:

  • Research & development (R&D) cooperation between two companies or cooperation between a company and a university/research institution (one from the U.S. and one from Israel)
  • Innovation in all areas of renewable energy and energy efficiency, such as solar and wind power, advanced vehicle technologies and alternative fuels, smart grid, storage, water-energy nexus, advanced manufacturing, artificial intelligence for energy management, etc.
  • Innovation in natural gas and other associated technologies
  • Significant commercial potential; the project outcome should lead to commercialization

The maximum conditional grant is $1 million per project, and no more than 50 percent of the joint R&D budget.

“New Jersey has a significant number of businesses in the clean energy sector that are working tirelessly to move the Garden State toward energy independence,” said CSIT Executive Director Judith Sheft. “Connecting these businesses and researchers with the funding they need to conduct groundbreaking work is essential to keeping New Jersey at the forefront of innovation.”

The BIRD Foundation works to encourage and facilitate cooperation between U.S. and Israeli companies in a wide range of technology sectors and offers funding to selected projects.

“New Jersey companies can greatly benefit from the BIRD program to increase their competitiveness in an increasingly global marketplace,” said Andrea Yonah, BIRD’s U.S. Director of Business Development for the East Coast and Midwest. “In addition to the funding, these collaborations can lead to increased revenue, follow-on investment and validation of their technology.”

Yonah noted that, in 2018 and 2019, four New Jersey companies were approved for projects with their partners in Israel. Two out of the four projects are energy-related. The BIRD Foundation believes that there are many more companies in New Jersey that qualify and encourages them to apply. Companies with questions about their proposals – or those seeking an Israeli collaborator – can reach out directly to Yonah at andrea@birdf.com.

Andrew Gross, Executive Director of the New Jersey – Israel Commission, sees BIRD Energy as critical to furthering the already solid relationship among New Jersey and Israeli companies and researchers in the clean energy sector.
“Many thanks to the BIRD Foundation for raising this opportunity with New Jersey,” Gross said. “This Commission continues to cultivate and support the synergy that exists between the Garden State and the Startup Nation so we can strengthen our economy and innovate for the future.”
 
About CSIT
In August 2018, Governor Phil Murphy signed legislation re-establishing the former New Jersey Commission on Science and Technology as the New Jersey Commission on Science, Innovation and Technology. The Commission is tasked with leading the way in promoting the state as a home for academic and technological research, development, and commercialization. The Commission is comprised of 17 members including the State’s Chief Innovation Officer, the Secretary of Higher Education; the Commissioner of Education; and the Chief Executive Officer of the NJEDA.

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TRENTON –The Department of Environmental Protection (DEP), Board of Public Utilities (BPU) and Economic Development Authority (EDA) today released a strategic funding plan for investing the state’s auction proceeds from the Regional Greenhouse Gas Initiative (RGGI), the cap-and-trade pact among northeastern states dedicated to reducing greenhouse gas emissions from the electricity generating sector. New Jersey plans to invest an estimated $80 million each year in programs that reduce greenhouse gas emissions, drive forward projects that boost clean energy and create jobs, protect the health of residents in environmental justice communities and increase the resiliency of coastal communities. 
 
New Jersey’s renewed participation in RGGI and the investment of proceeds into the clean energy economy and climate change mitigation are key components of the Murphy Administration’s interconnected environmental and economic development goals. In addition, funds from the RGGI auctions will be heavily dedicated to projects that will benefit the state’s environmental justice communities.
 
To help achieve Governor Murphy’s goal of achieving 100 percent clean energy by 2050, as outlined in the Energy Master Plan, the RGGI Strategic Funding Plan emphasizes the goal of electrifying New Jersey’s transportation sector, with a focus on projects that will benefit communities that historically have borne disproportionate burdens of air pollution. Projects developed under the plan will help the state reduce greenhouse gas emissions, leverage funding and stimulate financial opportunities and job creation, improve air quality, and enhance natural resources such as coastal wetlands and forests that sequester carbon emissions.
 
“The RGGI Strategic Funding Plan demonstrates how our state agencies collaborate to help create a brighter future for all New Jerseyans, especially our environmental justice communities,” said Governor Murphy. “As our State responds to COVID-19, we see up close the vital link between public health and economic development, the same relationship that drives our Administration’s efforts to reduce health risks from pollution and climate change through initiatives that also grow our clean energy economy. As we work to ensure that our economy recovers from this pandemic, the investments made under this Plan will promote health, equity, and environmental protection, helping us build a stronger and fairer New Jersey.”
 
Under Governor Murphy’s leadership, New Jersey formally rejoined RGGI this year, after two years of reentry negotiations and rulemaking led by Department of Environmental Protection Commissioner Catherine R. McCabe. In March, the state participated in its first quarterly carbon dioxide (CO2) allowance auction since rejoining, realizing more than $20 million in proceeds. As required by the state’s Global Warming Response Act, the EDA will be responsible for allocating 60 percent of the auction proceeds to qualified projects, and the DEP and BPU will each be responsible for allocating 20 percent.
 
“The RGGI Strategic Funding Plan will help spark transformational changes in New Jersey’s clean energy and transportation systems that will make New Jersey fairer and stronger for generations to come,” DEP Commissioner McCabe said. “This plan gives the state clear direction for investments in programs that reduce greenhouse gas emissions and better protect the health of residents in environmental justice communities. At the same time, the projects spurred by this plan will create opportunities and job growth in green technologies that will help New Jersey emerge stronger from the economic impacts of the current COVID-19 crisis.”
 
“In the same way focusing on fairness makes New Jersey’s economy stronger, protecting our environment can be a path to increased economic growth. Clean energy and sustainability will be particularly important as engines powering New Jersey’s recovery from the unprecedented challenges posed by COVID-19,” said NJEDA Chief Executive Officer Tim Sullivan. “The RGGI Strategic Funding Plan incorporates a variety of strategies to not only preserve our environment for future generations but also spur innovation, job creation, and economic growth.”
 
“Carbon emissions are not confined by state borders, and that’s why this regional collaboration is so critical. While climate change affects us universally, some communities feel those impacts harder than others. I’m especially proud that this strategic plan places special focus on environmental justice communities,” said NJBPU President Joseph L. Fiordaliso. “This plan will put significant resources toward electrifying transportation, especially for low- to moderate-income residents, an area where we can make the broadest, fastest progress on cutting air pollutants and greenhouse gas emissions. With the RGGI Strategic Funding Plan, we will continue to take measurable steps to remediate past environmental inequities and ensure all New Jersey residents can participate in and benefit from New Jersey’s transition to a clean energy future.”
 
Fossil fuel power plants are a significant contributor of carbon dioxide, the primary cause of climate change. RGGI is a cooperative, market-based cap-and-trade program consisting of states in the Northeast that provides incentives to generators of electricity to reduce emissions of carbon dioxide through investments in clean technologies. RGGI holds quarterly auctions of emission credits, proceeds of which states then use to fund projects that advance climate change mitigation goals.
 
Other RGGI states are Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New York, Rhode Island and Vermont.
 
The RGGI Strategic Funding Plan released today guides how the proceeds from this and future auctions over the next three years will be spent, under four broad initiative areas:
 

  • Catalyzing Clean, Equitable Transportation: All three agencies will work on projects that spur clean and equitable transportation by accelerating the transition to electric transportation throughout the state, with a heavy focus on projects that help environmental justice communities.

 

  • Promoting Blue Carbon in Coastal Areas: New Jersey’s coastal ecosystems are particularly vulnerable to the impacts of climate change, including sea level rise. The DEP is responsible for funding initiatives that will protect and enhance ecosystems such as salt marshes, tidal wetlands and seagrass beds, which are particularly important in the fight against climate change. Blue carbon is the carbon stored by the soils and plants in these marine systems. These ecosystems also create resilience by creating buffers that help protect communities from storms and flooding.

 

  • Enhancing Forests and Urban Forests: The DEP also will focus on projects that restore and improve the health of forests, including urban and community forests. Forests play a critical role in the carbon cycle, serving as a stock of sequestered carbon and continually removing and storing additional carbon from the atmosphere. Additionally, urban and community forests provide shade and reduce the need for energy produced for air conditioning.

 

  • Establishing a New Jersey Green Bank: The EDA will establish a Green Bank to leverage funding and stimulate financial opportunities in New Jersey’s clean energy innovation economy.  Consistent with the Plan’s overall environmental justice objectives, a substantial focus of a New Jersey Green Bank will be improving capital access for those who have traditionally had more difficulty in accessing the benefits of participation in the green economy. In addition to driving new investments and creating new jobs, Green Bank financing mechanisms will accelerate the deployment of clean energy and drive the evolution of the grid and energy infrastructure to be more flexible, resilient, and cost-effective. For example, a Green Bank could support projects such as rooftop solar in low-income areas or energy efficiency retrofits for smaller main street businesses. A Green Bank will also give priority to those projects that provide training and create high-quality jobs for New Jerseyans seeking to benefit from the state’s clean energy transition. 

 
These initiative areas reflect the mandates of the Global Warming Solutions Act, extensive public feedback collected during the 2018 RGGI rulemaking as well as feedback from a public scoping process. The state received valuable input from diverse stakeholders including municipalities, unions, environmental groups, environmental justice advocates, transportation planners, the energy sector and resource conservation groups.
 
Addressing climate change and making New Jersey more resilient to its impacts is a core priority area for Governor Murphy.
 
As one of his first actions upon taking office, Governor Murphy signed Executive Order No. 7, directing New Jersey to re-enter RGGI and take actions to address climate change, with an emphasis on projects benefiting environmental justice communities. The administration has since taken numerous strong actions to address carbon pollution and to make the state more resilient to climate change, including the development of a Statewide Climate Change Resilience Strategy to be publicly released later this year.
 
Governor Murphy has taken other significant steps that inform and guide the funding allocation priorities established by the RGGI Strategic Funding Plan, including:
 

  • Forming the New Jersey Partnership to Plug-In, a first-of-its-kind, statewide partnership to build out the necessary infrastructure to support electric vehicle ownership to improve air quality and reduce greenhouse gas emissions. The partnership creates a strategic and streamlined framework to support New Jersey’s electric vehicle ecosystem, with the goal of registering 330,000 Zero Emission Vehicles (ZEVs) by 2025.

 

  • Signing landmark legislation to boost electric vehicle use in New Jersey by setting aggressive goals for New Jersey electric vehicle sales and public charging stations, requiring the establishment of rebates for electric vehicle purchases, and directing the state to electrify its fleet. 

 

  • Releasing a comprehensive Energy Master Plan that includes rigorous goals and spans multiple sectors and governmental agencies to achieve the Governor’s goal of 100 percent clean energy by 2050. The Energy Master Plan defines clean energy as 100 percent carbon-neutral electricity generation and anticipates that the vast majority of electricity will come from carbon-free resources by 2050.

 

  • Issuing an order directing DEP to develop “NJ Protecting Against Climate Threats,” or NJ PACT, a targeted regulatory reform effort that will modernize environmental laws and regulations to help government, businesses and residents effectively respond to current climate threats and reduce future climate damages.

 
 
To learn more about RGGI, visit www.rggi.org/.
 
For information about RGGI in New Jersey, visit https://nj.gov/rggi/.
 
For information on NJPACT, visit www.nj.gov/dep/njpact/.
 
Follow the DEP on Twitter @NewJerseyDEP.
 
Follow the BPU on Twitter @NJBPU.
 
Follow the EDA on Twitter @NewJerseyEDA.
 
 

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TRENTON, N.J. (April 15, 2020) – In response to the ongoing COVID-19 pandemic, the New Jersey Economic Development Authority (NJEDA) has extended the deadline to submit responses to its request for information (RFI) seeking input on the need for a “Green Fund” to support investments in clean energy technology. Responses will now be accepted through May 29, 2020. The RFI is available online at https://www.njeda.gov/Bidding-Opportunities-General/Economic-Transformation-RFIs.

The RFI, released on March 10, seeks input from all individuals and organizations that have an interest in how a Green Fund may be established and operate in the State, including commercial banks, specialty lenders, businesses developing clean energy initiatives in New Jersey, current and potential suppliers within the clean energy supply chain, and organizations with specialized knowledge and expertise related to the creation and operation of green banks, green funds, and similar financing mechanisms. The questions focus on standing up the proposed Green Fund as well as how to best manage it over the long term to ensure the greatest benefit for New Jersey.

“Increasing private investment in the deployment of clean energy is vital to achieving Governor Murphy’s goal of
setting New Jersey on a path to 100% clean energy by 2050,” said NJEDA Chief Executive Officer Tim Sullivan. “We want to be sure that anyone who wants to provide insight in response to this RFI is not hindered in doing so due to the COVID-19 outbreak.”

Governor Murphy’s New Jersey Energy Master Plan sets forth a robust, actionable set of seven strategies and recommendations to enable the State to achieve its ambitious commitments to expanding clean energy and reducing greenhouse gas emissions between now and 2050. The plan recognizes that meeting these commitments will require a significant amount of private capital investment—and that New Jersey’s government can and should play a critical role in mobilizing this capital by expanding opportunities for innovative and low-cost financing and leveraging public dollars to grow private sector investment

All RFI responses must be submitted in writing no later than 11:59pm ET, on May 29, 2020 via e-mail to: RFI-PotentialGreenFund@njeda.com . The subject line of the e-mail should state: “RFI Response-2020-RFI-OET-CE- 102-Potential Green Fund.” 

To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
 
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
 

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TRENTON, N.J. (March 10, 2020) – The New Jersey Economic Development Authority (NJEDA) today released a request for information (RFI) seeking input from stakeholders on the need for a “Green Fund” to support investments in clean energy technology. This is an important step toward increasing private investment in the deployment of clean energy technologies such as energy efficiency and renewable energy.
 
“Investing in New Jersey companies that are deploying solutions to pressing clean energy challenges is not only critical for protecting our environment, but is also an opportunity to bolster our economy and create good jobs for New Jersey residents,” said NJEDA Chief Executive Officer Tim Sullivan. “This RFI is an important first step that will pave the way for us to create a green financing mechanism, such as a Green Bank or a Green Fund, that effectively channels public and private funding to achieve our bold clean energy goals.”
 
Governor Murphy’s New Jersey Energy Master Plan sets forth a robust, actionable set of seven strategies and recommendations to enable the State to achieve its ambitious commitments to expanding clean energy and reducing greenhouse gas emissions between now and 2050. The plan recognizes that meeting these commitments will require a significant amount of private capital investment—and that New Jersey’s government can and should play a critical role in mobilizing this capital by expanding opportunities for innovative and low-cost financing and leveraging public dollars to grow private sector investment.

“Achieving the goals outlined in the Energy Master Plan is critical to protecting New Jersey’s environment and long-term economic success. In issuing this RFI, we’re doing the work today to ensure we’ll have the capital investments we’ll need tomorrow to deploy cleantech solutions on a large scale. This includes establishing a green financing mechanism that works for New Jersey’s business, investors, and workers,” said New Jersey Board of Public Utilities President Joseph L. Fiordaliso.

To date, financing mechanisms similar to the fund the NJEDA is considering have been established in nine states and a number of municipalities and counties across the United States. Green financing mechanisms are also under development in several other states. The NJEDA is considering a wide range of approaches to establishing and operating a Green Fund that will achieve the State’s goal of stimulating private sector investment in clean energy; rapidly reducing New Jersey’s carbon footprint and the emission of harmful pollutants into the State’s air and water; and providing direct economic benefits to New Jersey residents such as good jobs and lower energy costs.
 
The RFI released today seeks input from all  individuals and organizations that have an interest in how a Green Fund may be established and operate in the State, including commercial banks, specialty lenders, businesses developing clean energy initiatives in New Jersey, current and potential suppliers within the clean energy supply chain, and organizations with specialized knowledge and expertise related to the creation and operation of green banks, green funds, and similar financing mechanisms. The questions focus on standing up the proposed Green Fund as well as how to best manage it over the long term to ensure the greatest benefit for New Jersey.
 
The RFI is available here: https://www.njeda.gov/Bidding-Opportunities-General/Economic-Transformation-RFIs

All questions concerning this RFI must be submitted in writing no later than 11:59pm ET, on March 27, 2020 via e-mail to: RFI-PotentialGreenFund@njeda.com. The subject line of the e-mail should state:  QUESTIONS-2020 RFI-OET-CE-102—POTENTIAL GREEN FUND.” Answers to questions submitted will be publicly posted on the Authority’s website on or about April 2, 2020.
 
All RFI responses must be submitted in writing no later than 11:59pm ET, on April 17, 2020 via e-mail to:  RFI-PotentialGreenFund@njeda.com . The subject line of the e-mail should state: “RFI Response-2020-RFI-OET-CE- 102-Potential Green Fund.”
 
To read Governor Murphy's full economic plan, please visit: https://nj.gov/economicplan
 
About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
 
To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
 

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TRENTON, N.J. (February 11, 2020) – The New Jersey Economic Development Authority (NJEDA) today announced that it approved 161 applications for investments into 32 emerging technology life sciences companies through the state’s Angel Investor Tax Credit Program in 2019. This represents the injection of $33.1 million in private capital into the State’s innovation ecosystem. More than 120 of the applications, totaling nearly $22 million in investments, were approved in the fourth quarter of the year alone.

Since the program’s inception, the NJEDA has approved 1,322 applications for the injection of $549 million into 94 New Jersey-based technology and life sciences businesses.

New Jersey’s Angel Investor Tax Credit Program offers investors refundable tax credits against qualified investments for New Jersey businesses. The program supports technology businesses with a physical presence in New Jersey that conduct research, manufacturing, or technology commercialization in the state. Seen as a means to not only invest in emerging companies but also attract capital into the New Jersey, the Angel Investor Tax Credit Program is open to investors throughout the world, not just those located in the Garden State.

Investors participating in the program in 2020 will benefit from an expansion of the program signed into legislation by Governor Phil Murphy in July 2019.  

Changes to the program, which are in effect for investments made after January 1, 2020, include doubling the tax credit that investors can receive – from 10 to 20 percent of a qualified investment. An additional five percent bonus has been added to the program for investments in a business located in a qualified opportunity zone, low-income community, or a business that is certified as minority- or women-owned by the State.
 
“Attracting investments into early-stage New Jersey companies is pivotal to Governor Murphy’s vision of creating the most diverse and inclusive innovation ecosystem, one centered around the Garden State’s talented workforce,” said NJEDA Chief Executive Officer Tim Sullivan. “We anticipate increased interest in the Angel Investor Tax Credit Program in 2020, as investors realize the benefits these impactful program enhancements have on their investments into emerging New Jersey companies.”

 The following companies were among nine technology and life sciences businesses that were new to the program in the fourth quarter of 2019:

Radius8, Inc., located in Princeton, is a local engagement platform that delivers hyper-local digital experiences to create new commerce opportunities for any enterprise with physical locations and digital channels. The company sees these experiences as necessary to meet today’s industry standards and consumer expectations and allow clients to improve profitability by increasing consumer engagement. Customers who have adopted Radius8’s technology include adidas, John Varvatos, Lucky Brand Jeans, Orvis, and many more. Radius8 also participated in the NJEDA’s Net Operating Loss Program.

Deliveright Logistics, Inc. in Bayonne has developed patented technology called Grasshopper, which bridges the gap between e-commerce retailers of heavy goods (i.e. furniture) and final mile companies that specialize in delivering these products. Grasshopper, a cloud-based proprietary platform, provides increased efficiency for operations, pricing, route optimization, tracking, and visibility for customers throughout the logistics chain.

Fusion Recruiting Labs headquartered in Red Bank, offers human resource departments and staffing agencies software tools to simplify and humanize the hiring process. The company created three products that are software-as-a-service-based recruitment and job distribution platforms; FATj.com, FindaNursingJob.com, and Talenize. These platforms are designed to empower recruitment teams by allowing them to source, connect, and engage quality candidates in the high-demand industries of transportation and healthcare recruitment.

About the New Jersey Economic Development Authority
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.
 
To learn more about NJEDA resources for technology and life sciences businesses, call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.gov/tls and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
 

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Dominic Villecco, President of V-COMM and Vice President of the NJ Wireless Association, discusses expanding 5G wireless technologies in Paterson and Passaic.

TRENTON, N.J. (August 26, 2019) – Project teams from nine New Jersey municipalities and counties convened today in Trenton to present their plans for building or augmenting their local innovation ecosystems. New Jersey Economic Development Authority (NJEDA) solicited these plans through a Request for Proposals (“RFP”) under the Innovation Challenge, a new initiative announced by Governor Phil Murphy in July 2018, as part of his vision for restoring New Jersey’s preeminence in innovation. These nine municipalities and counties were awarded contracts for $100,000 each in November 2018.

Governor Murphy created the Innovation Challenge as a call for municipalities and counties to partner with higher-education institutions and other strategic partners to consider groundbreaking approaches to building public-private and community partnerships, nurturing entrepreneurship, and upgrading infrastructure. The nine communities selected under the RFP were: Atlantic City, Atlantic County, Bridgeton, Camden County, Monmouth County, New Brunswick, Passaic County, Trenton, and Union Township.

"We launched the Innovation Challenge to encourage local communities to advance their own plans to further Governor Murphy’s vision to make New Jersey the State of Innovation, and it was exciting to see so much energy and enthusiasm for recapturing our historic leadership position,” said NJEDA Chief Executive Officer Tim Sullivan.

Participating project teams presented their progress today to an audience of state economic development leaders, including representatives of the Murphy Administration, and community leaders from relevant areas.
The plans focused on a wide variety of ideas designed to cultivate innovation and drive economic activity in New Jersey communities. They included:

  • The City of Atlantic City, Stockton University, and other partners’ plan for the Coastal Resiliency Institute, an educational, research, and incubator facility focused on the sustainable use of ocean and coastal resources for economic growth, improved livelihoods, and jobs; 
  • Atlantic County, the Atlantic County Economic Alliance, Atlantic Cape Community College, and Embry Riddle Aeronautical University’s marketing feasibility assessment for an Aviation Maintenance and Technical Academy;
  • The City of Bridgeton, Cumberland County Improvement Authority, Rutgers Food Innovation Center, and the Cumberland Workforce Development Board’s plan to create a Smart Food Manufacturing Center within the expanded Food Specialization Center in Bridgeton, which has already received offers of in-kind assistance, consulting, and equipment from a leader in advanced manufacturing technology; 
  • Camden County, Coopers Ferry Partnership, and Rowan University’s assessment around Smart City infrastructure needs for downtown Camden focused on integrating adaptive traffic signal technology and development of a central Transportation System Management and Operations Center; 
  • Monmouth County, Fort Monmouth Economic Redevelopment Authority, and New Jersey Institute of Technology’s vision for a 50-acre technology campus at Ft Monmouth that will attract high- growth private and public organizations and build an entrepreneurial environment in Monmouth County; 
  • A joint venture between the City of New Brunswick, Rutgers University, and New Brunswick Development Corporation (DEVCO) to create an integrated system for autonomous vehicle testing in a real-world urban cityscape;
  • The County of Passaic and Cities of Passaic and Paterson’s partnership with the William Paterson University-Small Business Development Center, Passaic County Community College, PSE&G, and St. Joseph's Hospital to document options available for expanding 5G wireless technologies in Paterson and Passaic; 
  • The City of Trenton and Greater Trenton’s engagement with five Mercer County higher education institutions and Trenton Public Schools to plan for a collaborative innovation and entrepreneurial center.  This includes an analysis that studies the entrepreneurial ecosystem and development needs for Trenton-area entrepreneurs, businesses, universities and residents. Resulting in recommended programs and sites for the Innovation Center within Trenton.
  • Union Township and Institute for Life Science Entrepreneurship (ILSE) at Kean University’s work with Union County and the Union County Economic Development Corporation to address a variety of issues associated with financing, expanding, and operating an innovation center that will catalyze the establishment and growth of life science start-up companies, creating a density of early-stage companies to promote entrepreneurial dynamism and economic activity.   

The plans presented today will be made available to the public in the coming weeks so that other localities may learn from the experience of the Innovation Challenge project teams. A second round of Innovation Challenge projects was approved in March 2019. Included in this round are: Cape May County, Hoboken, Newark, Paterson, and Plainfield.

About Us
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about EDA resources for businesses call EDA Customer Care at 609-858-6767 or visit https://www.njeda.gov  and follow @NewJerseyEDA on Facebook, Twitter, and LinkedIn.
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Eos Energy Storage Management Team:
From left to right: Vice President Business Development Philippe Bouchard, Founder and Inventor Steve Amendola, Chief Executive Officer Michael Oster, Chairman Steve Hellman, Chief Technology Officer and Chief Operating Officer George Adamson

TRENTON (March 17, 2016) – At a time in which more businesses and individuals are looking for clean energy alternatives, Edison-based Eos Energy Storage has successfully utilized a variety of State resources to position itself as an emerging leader in the global renewable resources marketplace.

Eos Energy Storage has developed and manufactures low-cost DC battery systems for electric utilities, with additional uses in commercial and industrial, telecom and residential markets. Its proprietary zinc hybrid cathode (ZnythTM) battery technology is designed to be a safe, efficient and cost competitive and can be used in variety of applications, including grid-scale storage and integration with renewable energy and as part of community-level microgrids.

Eos Energy Storage has created partnerships with such companies as Toshiba and Siemens, global leaders in system integration and utility infrastructure, NRG Energy, which delivers cleaner and smarter energy choices for customers, and Con Edison, a subsidiary of Consolidated Edison, Inc., one of the nation’s largest investor-owned energy utilities.

“The fact that Eos Energy Storage partners with so many high-profile companies underscores the broad impact New Jersey clean technology companies have on the greater technology industry,” New Jersey Economic Development Authority (EDA) Chief Executive Officer Melissa Orsen said.

As Eos Energy Storage continues to enhance its footprint in New Jersey, it has taken advantage of several State resources throughout its lifecycle. Each resource has been beneficial to the clean technology business at a particular stage of its growth.

Eos Energy Storage raised more than $16 million from investors who took advantage of New Jersey’s Angel Investor Tax Credit Program. Ideal for companies in the development and pre-launch stages, the program offers a 10 percent tax credit against New Jersey corporation business or gross income tax for qualified investments in an eligible emerging technology business with a physical presence in New Jersey. More than $125 million has been already invested in New Jersey-based emerging technology and biotechnology businesses through the Angel Investor Tax Credit Program since its inception in 2013.

In addition, last year marked the first time that Eos Energy Storage participated in the State’s Technology Business Tax Certificate Transfer (NOL) Program. Geared toward growing technology and biotechnology companies, the program enables eligible businesses to sell their research and development tax credits to raise cash to finance their growth and operations. To date, the NOL Program has provided a total of more than $860 million to over 500 companies in New Jersey.

The EDA and the New Jersey Board of Public Utilities (BPU) also recently announced the approval of Eos Energy Storage for a $2 million loan through the EDA’s Edison Innovation Green Growth Fund (EIGGF). As a  program designed for commercialized businesses, EIGGF offers low-interest loans of up to $2 million to eligible technology companies with Class I renewable energy or energy efficiency products or systems.

@NJEDATech asked Eos Energy Storage CEO Michael Oster about the company’s experience in New Jersey and its plans for the future:

Why did you choose to grow Eos Energy Storage in New Jersey?
New Jersey represents a vibrant and growing market for energy technologies and renewable energy development. We decided to headquarter Eos in Edison because we wanted to be part of an ecosystem where utilities, energy technology companies, and state agencies are working together to improve grid resiliency, reduce greenhouse gas emissions, and lower electricity costs for end-users. New Jersey is also home to some of the world’s most prestigious universities and technical colleges, which gives us access to the human resources needed to support our continued growth.

How has the company benefitted from the variety of State programs and resources?  
New Jersey’s robust program portfolio offers financial support to clean energy companies at every stage of development. Not only have we received funding in the form of low-interest loans and tax credits, we have also been able to win projects and drive sales through market-based solicitations, which are available through New Jersey’s Clean Energy ProgramTM. We have also leveraged the EDA’s vast network to establish strategic partnerships and to recruit a very high level of technical and commercial talent.

What’s Eos Energy Storage’s biggest success to date?
There are many answers to that question! I am most impressed by the teamwork required to combine technical and commercial objectives to deliver a novel battery technology that outperforms the existing technology in terms of safety and longevity while reducing cost by 40-50 percent. We have successfully deployed systems with major utilities, including Con Edison and Engie (formerly GDF Suez) among others, and we have worked hard to establish a network of partnerships that will allow Eos to cost-effectively manufacture, install, and maintain our product globally. These are major accomplishments; I’m very proud of our team for their hard work and continued determination.

What’s on the horizon for Eos Energy Storage?
Eos has reached an exciting point in the company’s growth. With the EDA’s support, we are now scaling up operations to produce commercial batteries in volume and to continue developing next generation improvements to our Znyth technology. We are in the process of deploying MW-scale, grid-connected battery systems to major utilities and renewable energy developers in New Jersey, New York, California, and key international markets. We also look forward to launching residential, commercial, and industrial battery systems in collaboration with global strategic partners. Stay tuned, 2016 is looking like an exciting year for Eos!

The EDA offers a multitude of resources to help technology companies grow and thrive. To learn about these resources, visit https://www.njeda.gov/tls and follow @NJEDATech on Twitter and LinkedIn.