in News Departments > New & Noteworthy
print the content item

Energy Foundry, a $22.5 million venture fund established under the Illinois Energy Infrastructure Modernization Act (EIMA), has announced its formation. The fund says it expects to begin making investments in Illinois-based energy-tech start-ups within the next 30 days.

As part of the EIMA, Illinois electric utilities ComEd and Ameren provided $22.5 million in initial funding for the creation of the Energy Foundry. Anne Pramaggiore, president and CEO of ComEd, commends state regulators for furthering grid-modernization efforts.

"The creation of this grid-tech investment fund is yet another example of Illinois policymakers thinking in non-traditional ways to create smart and innovative policy solutions to propel our state forward," says Pramaggiore. "We share Energy Foundry’s vision for Illinois to become a hub of grid-tech activity. The smart grid law was an important step in that direction, and this fund is a good illustration of what sound public policy can accomplish."



Hybrid Energy Innovations

Hybrid Energy Innovations 2015
Latest Top Stories

Two Years After Superstorm Sandy, Utilities Highlight Grid Efforts

As the U.S. reflects on the monster hurricane that struck in October 2012, utilities note what they have done to help protect against future severe weather.


USDA Invests $1.4 Billion To Boost Rural Grids Around The Country

The U.S. Department of Agriculture (USDA) has announced more loan guarantees for rural power companies and renewable energy firms in 21 states.


SPP Raises Concerns About EPA's Proposed Clean Power Plan

Stakeholders around the U.S. are mulling over the Environmental Protection Agency's blueprint to cut emissions from existing power plants. The Southwest Power Pool has released its assessment of the plan.


Comverge, Constellation To Merge Demand Response Businesses

The two companies have announced a deal to combine their DR operations serving commercial and industrial customers and establish a new, standalone entity.


Grid-Scale Energy Storage Continues Making Inroads

A new report from Navigant Research highlights the biggest markets and most popular technologies for grid-scale energy storage.

S&C Electric_id176
edf_id180