SBA and DOE partner to advance small business innovation.
The Department of Energy (DOE) and the Small Business Administration (SBA) launched the Small Business Investment Company-Energy (SBIC-E) Initiative last month. This new program will leverage the SBA’s Small Business Investment Company (SBIC) Program and integrate the DOE’s resources.
The SBA’s Office of Investment will guide the initiative, overseeing investment fund collection and growth, while the Energy Department will advise on technological priorities and provide technical and commercial expertise. The program will support the collection and manufacturing of critical minerals and modern materials, advance artificial intelligence, quantum information science, semiconductors, future computing, advanced communications, biotechnology, and other critical and emerging technologies.
SBA Administrator Kelly Loeffler said the partnership is “strengthening access to capital in the private sector to ensure America’s fossil fuels, nuclear, and electric power technology and infrastructure are the most advanced and plentiful in the world.”
“America’s small businesses drive American innovation and affordable, reliable energy access,” said Energy Secretary Chris Wright. “By partnering with the Small Business Administration, the Energy Department is committing to invest its resources in American small businesses that will create jobs, strengthen our domestic manufacturing base, and unleash American energy production.”
As the Lord Leads, Pray with Us…
- For Secretary Wright as he coordinates efforts between his department and the SBA to support small business innovation.
- For Administrator Loeffler to be discerning as she oversees the SBIC-E investment collaboration.
Sources: Department of Energy
