An initiative to promote "green" technology in the state got a $2.7 million boost in the form of a grant program, the Arkansas Energy Office announced Tuesday.
The funds are provided through the American Recovery and Reinvestment Act and administered by the Arkansas Energy Office.
The Green Technology Grant Program targets companies that make or sell products that contribute to renewable energy production or storage, energy efficiency, or programs that result in an overall reduction in energy use. A single company may receive no more than 25 percent of the funds.
“Arkansas is quickly developing a reputation as a great location for green and sustainable companies,” said Maria Haley, executive director of the Arkansas Economic Development Commission. “This grant program will be a strong tool in the development and growth of these companies as the ‘green’ sector continues to grow in our state.”
Arkansas Green Technology Grant Program funds are distributed on a competitive basis. The Arkansas Energy Office will have a 45-day time period to receive proposals beginning July 27. At the end of the 45 days, an advisory group will review all proposals and make awards based on the validity of the proposal and availability of funds.
To be eligible for funds, projects must meet pre-determined criteria in the area they wish to apply including technical assistance, facilities and equipment improvements, renewable energy products, process improvements, technology improvements, workforce development, and retrofits.
More information can be found at www.arkansasenergy.org.