Our Investments
HREDV co-invests in promising businesses based on 1) the innovation and commercial potential of the clean energy technology, 2) the strength and experience of their management – for example, the demonstrated ability to comply with federal accounting standards and to bring technologies to market, and 3) verifiable cost share. As articulated in the HREDV Roadmap, HREDV seeks technologies that in the process of commercialization, which means that they are at Technology Readiness Level 5-7. Companies that do not fall into this part of the development cycle should seek other funding sources.
In order to be eligible for HREDV funding, companies must also commit their own (non-federal) funds as cost-share. Cost share requirements are as follows:
- Early state innovation, testing and evaluation requires 20% cost share
- Support for sustainable implementation, e.g. pre-commercial demonstration, requires 50% cost share
For the first round of co-investment activities, HREDV issued an RFP in Fall 2009, which is now closed. The total funding available in this round is $2.4 million; HREDV expects to select 3-7 projects for commercialization funding in this round.
In addition to providing funds, HREDV provides ongoing training and support to businesses in its investment portfolio – for example, helping companies make their business plans even stronger, training staff to develop competitive proposals, and facilitating strategic partnerships among small and large businesses.
Our goal is to help entrepreneurs establish sustainable, successful clean energy businesses in Hawaii.
See How to Apply for more details.
