The Department of Energy is launching an Office of Technology Transitions (OTT) in an effort to expand the commercial impact of DOE research, DOE Secretary Ernest Moniz said Wednesday.
OTT will be a functional unit set to work closely with DOE national laboratories while engaging with industry to commercialize technology and strengthen the global competitiveness of U.S. industries.
“Through technology transfer, commercialization and deployment activities, the Department of Energy has made significant contributions to economic growth in the United States,” Moniz said. “The Office of Technology Transitions will give the department the opportunity to increase the American people’s return on investment in federally funded science and energy research.”
OTT will be responsible for the coordination of the commercial development and transfer activities carried out at all 17 DOE national laboratories, research and production facilities. OTT also will manage the Energy Technology Commercialization Fund (TCF), an approximately $20 million fund that will leverage the R&D funding in applied energy programs set to pursue high impact commercialization activities and provide matching funds with private partners to promote promising energy technologies for commercial purposes.
OTT’s activities are to fully support the White House’s Lab-to-Market initiative, a directive focused on accelerating the transfer of federally funded research from the laboratory to the commercial marketplace.
The DOE is a Cabinet-level department concerned with the United States' policies regarding energy and safety in handling nuclear material.
Alerts Sign-up