U.S., India establish $100 million green-tech fund
Public and privately matched funding offered for joint green-tech research, development projects.
The U.S.-India Joint Clean Energy Research and Development Center is ready to offer $100 million in public and private-sector funding for green-tech research, the organization announced last week.
Specifically, the center's intent is to fund joint projects between U.S. and Indian research groups involving biofuels, solar energy, or building efficiency.
India and the U.S. are together contributing $50 million to the center, with the other $50 million expected to be privately matched.
The center was launched during President Obama's November 2010 trip to India and is a joint venture signed by both the president and Indian Prime Minister Manmohan Singh.
The application process is open until August 16,2011. Applicants from the U.S. will be processed via the Department of Energy while applicants from India will be processed via the Indo-U.S. Science and Technology Forum.
"The overall aim of the center is to facilitate joint research and development on clean energy by teams of scientists, technologists, and engineers from India and the United States, as well as related joint activities needed to deploy clean-energy technologies rapidly with the greatest impact. To achieve this objective, the center will support multi-institutional network project costs using a public-private partnership model of funding support," according to a statement from the center, which also goes by the name of the JCERDC.