U.S. Senate Majority Leader Charles E. Schumer announces another federal award for Binghamton-led battery project

New Energy New York reps showcase growing project in Washington

July 24, 2024 – Binghamton University and its New Energy New York program partners are once again receiving federal dollars to create a battery and energy storage ecosystem in Upstate New York. U.S. Senate Majority Leader Charles E. Schumer announced Wednesday that the NENY project will receive a $500,000 Consortium Accelerator Award through the federal Tech Hubs program he helped secure for Binghamton and its coalition of partners, and created in his CHIPS & Science Law, to further bolster the region’s ongoing efforts to pursue additional capital opportunities and attract new companies and investment.

The announcement came during a visit to Washington, D.C. this week, where New Energy New York representatives had an opportunity to share why Upstate New York is fertile ground for battery and energy storage investments. Schumer welcomed representatives of the Binghamton University-led Upstate New York battery hub to the U.S. Capitol to tout the region’s growing R&D and innovation growth to federal agencies, philanthropic organizations and private sector investors.

“Today, we showed the country that American batteries can and should be manufactured in Binghamton, not Beijing,” said Schumer.

“I am proud to bring representatives of Binghamton University and its partners to the Capitol to show philanthropic and private investors how Binghamton and Upstate NY are leading the charge in bringing battery innovation back to America. For years I worked to craft and lead to the passage of new programs to spur economic development, bring manufacturing back to America, create good-paying jobs and spark scientific innovation, specifically with places like Binghamton and Upstate NY in mind – and with hundreds of millions in federal funding that I have secured, that vision is becoming a reality. Together, we are strengthening the battery supply chain while creating jobs and attracting new companies to the region. I’m looking forward to making more progress as we continue to establish Binghamton as a hub for battery research and manufacturing.”

“I am so proud of Binghamton and all of our consortium partners for these successful efforts in the battery and energy storage field,” said Binghamton University President Harvey Stenger. “We are excited to be on the receiving end of additional federal funds to support our progress. I am grateful for our biggest advocate and ardent supporter, Senator Schumer, who has not only brought more federal dollars to the region but is once again shining a national spotlight on the Southern Tier and Upstate New York, which is extraordinarily helpful in connecting our region with industry prospects and potential investors. That kind of support is invaluable.”

Schumer said the Consortium Accelerator Award will enable the Binghamton-led battery hub to continue its momentum and capitalize on the growing list of the benefits of the Tech Hubs designation, which provides multiple additional ways federal agencies and community partners can accelerate Tech Hub growth. Schumer’s D.C. convening was part of a multi-day opportunity for designated Tech Hubs, including the two from New York, to pitch their regions to philanthropic leaders, including from prominent foundations like the Rockefeller Foundation, and private investors like venture capital funds to showcase investment opportunities in their regions, attracting further private capital to the efforts to build those areas into innovation leaders.

The Innovative Capital event allowed representatives from the Tech Hub and NSF Engine ecosystems from across the country to engage with individuals and investment groups focused on: Advanced Manufacturing, Advanced Computer & Semiconductors, Energy Innovation or Biotechnology & Health. Regional innovation officers from the nationwide Tech Hubs and chief executive officers from all of the Engines presented information about what their individual ecosystems have to offer. They also identified unique opportunities on the ground.

Participants also had a chance to hear directly from policymakers, including U.S. Deputy Secretary of Commerce Don Graves and White House officials on the government’s approach to place-based innovation. One of the main areas of focus was a discussion on how all of these ecosystems can work towards bridging the public-private gap and strengthening partnerships through dialogue with top USG investors. Participants also had an opportunity to hear directly from their NSF and Commerce Department leaders, NSF Director Sethuraman Panchanathan and U.S. Secretary of Commerce Gina Raimondo.

“Thank you to the National Science Foundation and the Department of Commerce for organizing a fantastic event that brought together the NSF Regional Innovation Engines, EDA Tech Hubs, capital providers and philanthropists,” said Meera Sampath, CEO of the Upstate New York Energy Storage Engine. “The event provided an excellent opportunity to share our vision and goals and to connect and exchange ideas. We expect many fruitful new collaborations to arise from this day. Special thanks to Senator Schumer for his continued support of our efforts.”

“Being among the vetted communities in the room chosen because we’re driving innovation, global competitiveness, and national security was so powerful,” said Marnie LaVigne, president & CEO of Launch NY and governance board member for the Upstate NY New Energy Storage Engine. “We are so grateful to Senator Schumer for his leadership in bringing us together with capital providers who will help us achieve our Engine goals.”

“The Innovative Capital Summit allowed NENY to showcase the amazing achievements we have had under EDA’s Build Back Regional Challenge and that has translated into the subsequent opportunities provided by the prestigious Tech Hub designation and the NSF Engine funding, “said Regional Economic Competitiveness Officer and Interim Regional Innovation Officer Per Stromhaug. “By connecting with capital providers at the event we were able to build new relationships and explore how programs and companies can attract funding to further the mission and impact of NENY”

“I am thrilled by Senator Schumer’s recognition of Binghamton University’s pivotal role in securing a Tech Hub designation for batteries and energy storage,” said Regional Innovation Officer for the NENY Tech Hubs Stacey Johnson. “These achievements highlight the robust ecosystem we’ve cultivated in Upstate New York, where collaborations and initiatives like EDA’s Build Back Regional Challenge and NSF Engine funding are propelling innovation and workforce development forward. The connections forged at events like the Innovative Capital Summit are crucial in leveraging capital to further empower our programs and companies, driving our mission to foster impactful economic growth in the region.”

The New Energy New York regional capacity for growth and leadership was also underscored by the accomplishments to date (since 2022, 100+ companies engaged across the supply chain, 5 training programs launched at various levels, 1000+ individuals trained, 3 major philanthropic grants secured, 30+ startups supported, 6 companies undertaking first-of-a-kind pilot storage demos in NYS, and portfolio companies raising $40M+ in follow-on funding).