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Funding Resources

Funding Resources
MA Business Expansion Initiative (BEI)
Type of IncentiveLoan
Eligible StatesMA
Eligible TechnologyBackpressure Turbine, Boiler, Combustion Turbine, Condensing Turbine, Extracting Turbine, Fuel Cell, Microturbine, Other, Reciprocating Engine, Heat Recovery Generator, Stirling Engine
Eligible FuelBiogas, Biomass, Hydrogen, Other
Eligible Project SizeAll (MW)
Number of Awards

 

Size of AwardThe Massachusetts Technology Collaborative (MTC) is offering loans to help renewable energy companies enter or expand the manufacture of renewable energy technologies under the Business Expansion Initiative (BEI). Applicants must currently, or plan to, manufacture renewable technology products in Massachusetts. Companies will be eligible to receive loans from $500,000 up to $3 million.
Start Date5/31/2007
End Date

 

Minimum Efficiency(%)

 

Additional InformationBEI can fund up to 50% of capital expenses and related spending over a 24 month period. At the very most, 75% of funding can come from public sources, including equity, debt or grant. The terms of the loan allow for up to 10 year amortization, with a period of 7 years or less preferred. Additionally, to qualify, the company must be increasing its workforce by at least 10%, and output capacity by at least 10%.

The following types of renewables/technologies are eligible for funding: solar thermal electric, photovoltaics, wind, biomass, hydro, power inverters, power controls, tidal energy, wave energy, ocean thermal, and fuel cells using renewable fuels.

Pre-applications will be accepted on an ongoing basis. There is currently no program expiration date.
Web Sitehttp://www.masstech.org/renewableenergy/BEI/index.html Exit EPA
Primary ContactIan Springsteel
75 North Drive
Innovation Center
Westborough, MA 1581
U.S.A.
Ian Springsteel (BEI@masstech.org)
(508) 870-0312 x 255
(508) 898-9226

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