ITN Energy Systems Awarded $4.9 Million ARPA-E Grant From U.S. Department of Energy

LITTLETON, Colo.--(BUSINESS WIRE)--ITN Energy Systems (ITNES) a clean energy and technology incubator announced today that it has been awarded $4.9 million as part of the Department of Energy ARPA-E grant program. The primary goal for this project is to develop solid-state electrochromic film on plastic substrates by using ITN’s proprietary roll-to-roll production process to substantially reduce the cost of electrically controlled smart windows for net-zero energy buildings. These windows when installed and in use will reduce heating and cooling loads and minimize overhead lighting use. ITNES will serve as the prime contractor on the award and is supported by MAG Industrial Automation Systems, EPRI, Southern California Edison, and the Colorado School of Mines.

“After President Obama announced this effort in April; we received a stunning level of interest – nearly 3,700 submissions. We invited about 300 of those to put together full proposals. Today we are funding 37 projects – 1 percent of the submissions.”

On October 26, 2009 U.S. Department of Energy officially announced the awards. In the official DOE press release issued, Steven Chu, United States Secretary of Energy stated, “After President Obama announced this effort in April; we received a stunning level of interest – nearly 3,700 submissions. We invited about 300 of those to put together full proposals. Today we are funding 37 projects – 1 percent of the submissions.”

Dr. Mohan Misra Founder & Chief Executive Officer of ITN Energy Systems stated, “We commend Secretary Chu and the Department of Energy for their foresight in creating ARPA-E and swiftly creating grant opportunities to continually foster innovation for clean technologies. This grant reflects our 15 year old heritage of success at ITNES in leading the development of clean technologies in the areas of energy generation, energy storage and energy efficiency.”

About ITN Energy Systems:

After working for more than 20 years in aerospace industry, Dr. Mohan Misra founded ITN Energy Systems, Inc. (ITNES) in 1994 to bring aerospace know-how to the commercial marketplace. ITNES primary mission is to identify, develop and commercialize emerging technologies for defense and commercial markets by establishing successful spin-offs, joint ventures or licensing arrangements. ITNES focuses on developing advanced products and technologies that address the needs of today’s competitive business environment, which is driven by the technology revolution. ITNES has built a diverse and growing technology portfolio for CleanTech including energy generation and storage, energy efficiency, and environment applications, which has provided ITNES with an unprecedented growth opportunity in the past as well as in the future. Since 1996 ITNES has successfully spun-off four companies, they are Global Solar Energy (www.globalsolar.com), Infinite Power Solutions (www.infinitepowersolutions.com), Microsat Systems (www.microsatsystems.com) and Ascent Solar Technologies (www.ascentsolar.com). For more information on ITNES please visit www.itnes.com.