Seven startups in New Mexico recently landed state grants through a new pilot program aimed at furthering New Mexico's advanced energy industry.
The New Mexico Economic Development Department announced the seven award winners under its Advanced Energy Award Pilot Program on Monday. The seven companies received $3.4 million total.
The awards came through the Economic Development Department's Office of Strategy, Science and Technology, which underwent a name change and expansion in September 2023. Nora Meyers Sackett, the director of that state office, said funding for the pilot program comes via a $50 million special appropriation to the Economic Development Department (EDD) passed during the 2023 legislative session, to promote infrastructure and advanced energy development in the state, among other focuses.
The pilot program got around $7 million under the larger EDD appropriation for two years, Sackett said. The seven awardees this year are the first round of awardees, with another group expected to be announced next year.
The seven startups that landed state dollars are:
- Flow Aluminum, a 2024 Startup to Watch based in Albuquerque working on a novel aluminum-based battery design, received $400,000.
- GridFlow, based in Albuquerque and a recent participant in a federal technology transfer program with its battery storage technology, received $300,000.
- Hydrosonics, a portfolio company under Roadrunner Venture Studios based in Albuquerque developing an advanced electrolyzer technology, received $350,000.
- Pajarito Powder LLC, a producer of electrolysis-based hydrogen technology with a new Albuquerque headquarters facility, received $766,000.
- Sigma Advanced Technologies, an Albuquerque-based developer of water purification technology spun out of Sandia National Laboratories, received $300,500.
- TS-Nano Technology, based in Albuquerque and scaling a technology to seal leaky oil and gas wells, received $713,000.
- UbiQD Inc., based in Los Alamos and a recent SXSW Innovation Award recipient for a new greenhouse glass technology, received $617,500.
It's a "diverse" group of awardees, Sackett said. That was intentional, she added — selecting companies at various stages of development and with different technology focuses.
Sackett said 25 companies applied for funding through the Advanced Energy Award Pilot Program. The New Mexico Technology Research Collaborative Board, composed of statutory and appointed representatives from science and technology institutions in the state and the private sector, evaluated applications.
Awardees also participated in a pitch event at UNM Rainforest Innovations on May 3. UbiQD was awarded an additional $50,000 through that pitch competition.
The broader goal of the pilot program, Sackett said, is growing the state's economy, specifically related to advanced energy. Renewable and advanced energy development is one of the New Mexico Economic Development Department's target industries.
"New Mexico's advanced energy economy is thriving," Acting EDD Cabinet Secretary Mark Roper said in a statement. "Not only are solar and hydrogen industry leaders choosing new Mexico to grow their companies, but by supporting homegrown technologies, we are furthering the development of advanced energy at every level and making a positive impact for the future of New Mexicans."
The Office of Strategy, Science and Technology plans to work "very closely" with awarded startups, Sackett said. The awards come with milestones companies are expected to meet, she added.
Working closely with the startups, which includes more information on how the grant dollars impact their operations, what obstacles they face and what other state programs the companies could participate in, will help inform the full establishment of the advanced energy award program, past the two-year pilot stage. Sackett said the office hopes to secure funding in future legislative sessions for that full iteration of the program.
