Published on September 9th, 2013 | by Jo Borras5
US Navy Funds Energy Excelerator Projects in Hawaii
The US Navy recently announced that it would be putting more than $30 million into Hawaii’s Energy Excelerator green energy projects, which help energy startups “navigate” Hawaii and the Asia Pacific region and encourage sharing of know-how, technology, and strategies among clean energy startups. The investment comes as part of a larger US military initiative to reduce operational dependence on foreign oil and petroleum-based products, which many thinkers – including the mega-brained Rand Corporation – believe is the single greatest risk to America’s national security.
The Navy’s Energy Excelerator investment isn’t much, in the grand scheme of things, but sources indicate that it’s already been follow-up with an additional round of investments totaling more than $38 million. Tina Casey, at Gas 2’s sister site, Cleantechnica, has the story, below.
The US Navy has just pumped $30 million into the Energy Excelerator, a funding agency for renewable energy start-ups in Hawaii. That triples the agency’s operating funding over the past three years, and it gives the ol’ Bronx cheer to certain legislators…
Source | Photos: US Navy, via Cleantechnica.