The New Mexico Economic Development Department is accepting applications for an Advanced Energy Award Pilot Program (NM AEAPP) grant award of up to $1 million to accelerate the development and commercialization of technologies in the Advanced Energy Sector.

The competitive, state-funded grant program awards non-dilutive funds to proposals in advanced energy innovation and commercialization from New Mexico small businesses engaged in research and development. According to the New Mexico EDD, the grant seeks to assist early-stage companies with strong growth potential that are developing a unique product. Grants range in size from $250,000 to $1 million.

Funding will be awarded on a cost-reimbursement basis. Awards may not be the first capital. Evaluation criteria will include the proportion of previously-secured funding from additional sources.

The award application requires the submission of a detailed executive summary, a slide deck/presentation, a budget for award funds, and a capitalization table. Applicants are required to provide projections of what they expect the company to look like in the next five years, including staff, revenue, and growth projections.

Applications will be accepted until 5:00 pm Mountain Standard Time on Thursday, February 6, 2025.

Learn more about the grant program. Register for the informational webinar scheduled for 1:00 pm on January 15.