$120 Million for New Energy Innovation Research Hub

TriplePundit.com
By Tina Casey
June 3rd, 2012

The Obama Administration has just launched a $120 million research program for new energy materials called the Critical Materials Hub, which is designed to ensure that U.S. companies get a steady supply of rare earths and other resources needed for manufacturing solar cells, advanced batteries and other alternative energy technologies.

The program also bears with it the potential to leverage economic development beyond its immediate sphere of research. Like the other innovation hubs started by the Obama Administration, the Critical Materials Hub establishes a centralized cluster that could be used as a valuable green branding and promotional opportunity for private companies and local governments.

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