Eight New York companies working on energy storage technologies will share in $2 million in new funding from the New York State Energy Research and Development Authority (NYSERDA).
The companies, located in Albany, Ithaca, New York City, Oneonta, Schenectady, Troy, and Williamsville, will each receive $250,000. The firms will use the money to develop technologies with proven feasibility into working prototypes, according to NYSERDA.
One of the firms, Primet Precision Materials, Inc. of Ithaca, is working on technology to lower the cost of key raw materials for lithium ion batteries, according to NYSERDA. That could allow for more integration of lower cost energy storage into the electric grid.
(Sponsored)

Inflation and Insurance Rates: How to Offset the Impact
Many industries have been hit by inflation where it hurts the most, our pockets. Inflation is raising the price of goods and services including food, housing, transportation, and medical care.
The Importance of Relationship Banking for Small Business Success
Small business owners wear many hats. Each day can bring on new challenges requiring valuable time and focus – especially in the competitive economic environment we live in today. The
A complete list of the companies receiving funding is available here.
“Energy innovation plays an important role in driving economic growth and helps advanced manufacturers remain competitive,” NYSERDA President and CEO Francis Murray said in a news release. “These eight recipients will leverage additional private investment for energy storage solutions developed in New York state. The state’s investment, under Gov. Cuomo, in these companies and research centers will reap rewards for New Yorkers not only today but for the next generation to come.”
Each of the eight companies must match NYSERDA’s funding.
Contact Tampone at ktampone@cnybj.com