Binghamton University, who oversees the Koffman Incubator and its programming, was one of 60 finalists chosen from a pool of 529 applicants and will receive $500,000 to further develop their proposal to compete in Phase 2 of the Challenge, which will award 20-30 regional coalitions up to $100 million.

“This award will make the New Energy NY project eligible for up to $100 million in federal funding to transform the Greater Binghamton area and broader upstate New York region, create thousands of jobs, fuel the innovation necessary to combat climate change, and importantly, strengthen a critical area of the U.S. domestic manufacturing supply chain,” U.S. Sen. Majority Leader Charles Schumer says. “I am proud to have fought for the New Energy NY project to be selected for Phase 1 and I will continue to fight tooth and nail to secure the final award and supercharge this growing area of the Upstate New York economy.”

“Binghamton University is honored and excited to lead a coalition of premier organizations from across New York State to help the U.S. meet the critical and growing demand for domestic battery products,” says Per Stromhaug, associate vice president of the Office of Entrepreneurship and Innovation Partnerships and regional economic competitive officer for the project.