A new $8.5 million state fund aims to help New Yorkers who work in climate technologies scale up their businesses.
The Climate Tech Growth Platform will provide companies with resources, including capital and fundraising planning, project development, market intelligence and more.
According to a release from Gov. Kathy Hochul's office, nearly $6 million will go toward direct services and up to $2 million for future grants. The funding comes from New York's 10-year $6 billion Clean Energy Fund.
"My administration will continue to support companies that are at the forefront of developing new technologies to lower greenhouse gas emissions, make our electric grid more energy efficient and reduce pollution from transportation," Hochul said in the release. "By supporting these innovative developments, we can further our state's leadership on climate, create jobs and grow our economy as we build a greener, more resilient future for all New Yorkers."
The program's goal is to support 100 companies through the end of 2025. A webinar with more information will be on Oct. 19. Applications open on Nov. 15 for businesses interested in enrolling in the program.
