TRENTON, N.J. (June 16, 2009) –A new funding resource  in support of Gov. Jon S. Corzine’s commitment to promote economic development and a more secure environmentally responsible energy future for New Jersey was unveiled today. Known as the Clean Energy Solutions Capital Investment (CESCI) Loan/Grant, the new program was developed to encourage and promote energy efficiency measures within the commercial and industrial sectors and encourage the use of renewable energy while supporting the goals of the Governor Corzine’s Energy Master Plan.


 


“Our new financing product will expand the State’s national leadership role in establishing a green economy by ensuring companies have the ‘green’ resources they need to sustain, grow and prosper in New Jersey,” said Caren S. Franzini, chief executive officer of the New Jersey Economic Development Authority (EDA), noting that more new resources will be unveiled over the next several months as part of the state’s Clean Energy Solutions portfolio, which includes partnerships with the Board of Public Utilities (BPU) and the Department of Environmental Protection (DEP).


 


Governor Corzine’s Energy Master Plan is one of the most aggressive in the nation, and is aimed at reducing energy consumption by 20 percent and generating at least 30 percent of the State’s energy from renewable sources by the year 2020.


 


The CESCI Loan/Grant program will support commercial, institutional or industrial entities advancing energy-efficient end-use projects, combined heat and power (CHP or cogen) production facilities, or construction of state-of-the-art, efficient electric generation facilities, including Class I and Class II renewable energy. CESCI will provide zero-interest loans and grants up to $5 million to eligible commercial, industrial or institutional customers, with up to 10-year loan term to fund purchase of fixed-assets (including real estate or equipment).


 


The loans and grants offered through CESCI are capitalized through the Regional Greenhouse Gas Initiative’s Global Warming Solutions Fund, in partnership with the DEP.           


 


“Using global warming funds to promote energy sustainable projects  presents the DEP and the EDA with a unique opportunity to strengthen New Jersey’s economy while creating a cleaner and greener environment,” DEP Acting Commissioner Mark N. Mauriello said.


 


“The coordination among various State agencies to support energy efficient and renewable energy in New Jersey has helped to establish the state as a national leader,” said Jeanne M. Fox, President of the New Jersey BPU. “Our coordination is a direct result of the clear vision and goals established under Governor Corzine’s Energy Master Plan, and additional EDA/BPU partnerships to support clean energy projects in New Jersey that will be unveiled throughout the Summer.”


 


This latest product complements the State’s existing clean energy programs to promote economic development, including the Clean Energy Manufacturing Fund. Businesses interested in Clean Energy Solutions opportunities should visit www.njeda.gov in the coming weeks for more information on upcoming products, including a new performance-based grant program to assist combined heat and power facilities to complement the CESCI program, which will be offered in partnership with the Board of Public Utilities.

 

New Program Supports Manufacturing of Innovative Clean Energy Technologies

 

TRENTON, N.J. (May 29, 2009) – The second solicitation for financing by the State of New Jersey under the Clean Energy Manufacturing Fund will begin June 1. The recently launched program was specifically designed to support companies looking to site or materially expand a Class I renewable energy or energy-efficient product manufacturing facility in New Jersey, and will enable the state to take a leadership role in the clean technology industry by promoting new green jobs and growth while addressing the goals of Governor Jon S. Corzine’s Energy Master Plan.

 

The program is funded by the New Jersey Board of Public Utilities (BPU) and administered through the New Jersey Economic Development Authority. The solicitation period opens June 1, and is scheduled to close on July 15.

 

“The Clean Energy Manufacturing Fund will contribute greatly to the cost-competitiveness of renewable energy and energy efficiency in New Jersey while also supporting the creation of green collar jobs in the Garden State,” said Caren S. Franzini, chief executive officer of the EDA.

 

“Our continued partnership with the EDA will create jobs, ensure energy security and help achieve Governor Corzine’s mandate to reduce greenhouse gas emissions and combat global warming,” added BPU Board President Jeanne M. Fox.

 

Through the Clean Energy Manufacturing Fund, New Jersey clean technology manufacturers can receive funding under two separate components: project assessment and design, and project construction and operation. In total, a qualified manufacturer of Class I renewable energy or energy efficiency systems, products or technologies may be eligible to receive up to $3.3 million in grants and interest-free loans.

 

Up to $300,000 is available as a grant to assist with the manufacturing site identification and procurement, design, and permits. Up to $3 million is available as a zero-interest, ten-year loan to support site improvements, equipment purchases, and facility construction and completion.

 

To take advantage of this program, a company must be a for-profit entity that is planning to manufacture eligible products in New Jersey and be entering or expanding within the manufacturing stage of commercial development. A minimum 50-percent cash match of total project costs from non-state grants, loans, or equity, is required for both program components. Preference will be given to those projects that demonstrate a greater percentage of the project being designed, manufactured, processed, assembled or made ready for commercial sale at the company’s project facility in New Jersey.

 

Eligible technologies for funding include energy efficiency equipment and technology, Class I renewable energy and other technologies or equipment that can demonstrate their integral nature to the development of Class I renewable energy and energy efficiency technologies. Class I renewable energy is defined as electricity derived from solar energy, wind energy, wave or tidal action, geothermal energy, landfill gas, anaerobic digestion, fuel cells using renewable fuels, and, with written permission of the New Jersey Department of Environmental Protection (DEP), certain other forms of sustainable biomass.

 

To learn more about the Clean Energy Manufacturing Fund, call 866-534-7789 or visit www.njeda.gov\CEMFApplication.

 


 

 

New Program Supports Innovative Clean Energy Technologies
 
Trenton, N.J. (February 25, 2009) – Financing is now available from the New Jersey Economic Development Authority (EDA) for the Edison Innovation Clean Energy Manufacturing Fund, a program which will enable New Jersey to take a leadership role in the clean technology industry by promoting new jobs and growth in the state while addressing the goals of New Jersey’s Energy Master Plan.  The program represents an expansion of the state’s Edison Innovation Fund, a key element of Governor Jon S. Corzine’s Economic Growth Strategy, which was created to spur innovation, create new, high-paying jobs and cultivate an entrepreneurial environment for technology and life sciences companies in New Jersey.

The Clean Energy Manufacturing Fund was specifically designed to support companies looking to site a Class I renewable energy or energy efficiency product manufacturing facility in New Jersey. The program is funded by the New Jersey Board of Public Utilities and administered through the EDA.


“Governor Corzine’s Economic Growth Strategy places a high priority on encouraging innovation, and the Clean Energy Manufacturing Fund will ensure New Jersey remains on the cutting-edge of cleantech development,” said Caren S. Franzini, chief executive officer of the EDA.  “In addition to supporting economic growth in the state, businesses receiving support under this Fund will contribute greatly to the cost-competitiveness of renewable energy and energy efficiency in New Jersey.”


“The Board of Public Utilities is excited about our new partnership with the EDA,” added Board President Jeanne M. Fox.  “It will create jobs, ensure energy security and help achieve Governor Corzine’s mandate to reduce greenhouse gas emissions and combat global warming.”


Through the Edison Innovation Clean Energy Manufacturing Fund, New Jersey clean technology manufacturers can receive funding under two separate components: project assessment and design, and project construction and operation.  In total, a qualified manufacturer of Class I renewable energy or energy efficiency systems, products or technologies may be eligible to receive up to $3.3 million in grants and interest-free loans.  Up to $300,000 is available as a grant to assist with the manufacturing site identification and procurement, design, and permits. Up to $3 million is available as a zero-interest ten-year loan to support site improvements, equipment purchases, and facility construction and completion.


To take advantage of this new program, a company must be a for-profit entity that is planning to manufacture eligible products in New Jersey and be entering or expanding within the manufacturing stage of commercial development.  A minimum 50-percent cash match of total project costs from non-state grants, loans, or equity, is required for both program components. Preference will be given to those projects that demonstrate a greater percentage of the project being designed, manufactured, processed, assembled or made ready for commercial sale at the company’s project facility in New Jersey.  Eligible technologies for funding include energy efficiency equipment and technology, Class I renewable energy and other technologies or equipment that can demonstrate their integral nature to the development of Class I renewable energy and energy efficiency technologies. 


To learn more about the Edison Innovation Clean Energy Manufacturing Fund, call 866-534-7789 or visit www.njeda.gov\CEMFApplication.