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Funding Resources
Funding Resources
| MA Business Expansion Initiative (BEI) | |
|---|---|
| Type of Incentive | Loan |
| Eligible States | MA |
| Eligible Technology | Backpressure Turbine, Boiler, Combustion Turbine, Condensing Turbine, Extracting Turbine, Fuel Cell, Microturbine, Other, Reciprocating Engine, Heat Recovery Generator, Stirling Engine |
| Eligible Fuel | Biogas, Biomass, Hydrogen, Other |
| Eligible Project Size | All (MW) |
| Number of Awards | |
| Size of Award | The 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 Date | 5/31/2007 |
| End Date |
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| Minimum Efficiency(%) |
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| Additional Information | BEI can fund up to 50 percent of capital expenses and related spending over a 24 month period. At the very most, 75 percent 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 percent, and output capacity by at least 10 percent. 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 Site |
Http://www.masstech.org/renewableenergy/BEI/index.html  |
| Additional Web Site |
http://www.dsireusa.org/library/includes/ incentive2.cfm?Incentive_Code=MA70F&state=MA&CurrentPageID=1&RE=1&EE=1 |
| Primary Contact |
Ian Springsteel 75 North Drive Innovation Center Westborough, MA 01581 U.S.A. Ian Springsteel (bei@masstech.org) (508) 870-0312 x 255 (508) 898-9226 |