Austin Energy may fund Clean Energy Incubator

Oct 22, 2013
Austin Business Journal

Austin Energy may continue its collaboration with the University of Texas at Austin's Clean Energy Incubator with a two-year, $530,000 extension, if the agreement is approved by City Council at an Oct. 24 meeting


The money would be used to help the CEI hire personnel from the energy industry and to make the city more attractive to energy companies looking to relocate, according to city documents. If passed by council, this would be the fifth agreement between the city and the CEI – dating back to 2008


The CEI assists Austin Energy and the city of Austin to develop local companies and identify candidates for testing and pilot programs


Between 2009 and 2012, the CEI has created 235 jobs, and graduated 17 companies with a local impact of $65 million. The incubator has also relocated seven companies to Austin and helped raise $176 million in funding for energy companies, the city reported


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