Durbin Announces $250,000 Investment In Chicago Clean Energy Sector To Spur Innovation And Development

[WASHINGTON, D.C.] – U.S. Senator Dick Durbin (D-IL) today announced that the U.S. Department of Commerce’s (DOC) Economic Development Administration (EDA) has awarded a $250,000 grant to the Clean Energy Trust (CET) in Chicago, Illinois to help spur entrepreneurship and boost economic development. In 2014, Durbin wrote a letter to the EDA urging the agency to consider CET’s application for the DOC’s Regional Innovation Grant program. A copy of that letter is available here.  

“Today’s funding will help Chicago’s clean energy and environment companies implement a plan for continued growth – one that leverages new investment to help build a foundation for innovation and success,” said Durbin. 

The CET is a non-profit clean energy accelerator that serves nine Midwestern states, including Illinois. CET sources breakthrough technologies that can be turned into high-growth startup companies. Today’s funding will be used to support CET’s Clean Energy Prize Fund, which aims to foster innovation and promote economic growth by providing early-stage capital to startup companies.

EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States.  Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.