New York State Energy Research and Development Authority (NYSERDA)
Investments
59Portfolio Exits
5Funds
1Partners & Customers
10About New York State Energy Research and Development Authority (NYSERDA)
New York State Energy Research and Development Authority (NYSERDA) is a public benefit corporation created in 1975 under Article 8, Title 9 of the State Public Authorities Law through the reconstitution of the New York State Atomic and Space Development Authority. NYSERDA''s aim is to help New York meet its energy goals: reducing energy consumption, promoting the use of renewable energy sources, and protecting the environment. NYSERDA strives to facilitate change through the widespread development and use of innovative technologies to improve the State's energy, economic, and environmental well-being. NYSERDA is governed by a board consisting of 13 members which include various state departments and agencies. NYSERDA provides grants and investment through its Economic Development Unit, as part of the Marketing & Economic Development Department. This group particularly focuses on improving the State's business climate through strategic partnerships and investments in in emerging technologies, energy efficiency, and environmental protection for the purpose of increasing the efficient use of energy, reducing operating costs, and increasing overall profitability. NYSERDA will provide financial and technical assistance to companies concerned with energy efficiency and environmental-stewardship; innovative product development; product commercialization plans; and other business assistance for the purpose of business retention, growth, and relocation to New York State. NYSERDA's Economic Development Unit works to identify quality projects that fit within the scope of the organization's mission, and encourages support and participation in NYSERDA program offerings. NYSERDA is particularly focused on three strategic goals for its initiatives. These include: (1) To promote the value of NYSERDAs programs as an economic development tool working with state and regional organizations and associations to promote business growth, attraction and retention. (2) Work with the regional and state economic development partners to encourage growth of the renewable and green energy industry in New York State. (3) Coordinate and manage the activities of the Energy $mart Communities Program to promote widespread marketing, outreach and education efforts to promote NYSERDA program areas.

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CB Insights Intelligence Analysts have mentioned New York State Energy Research and Development Authority (NYSERDA) in 1 CB Insights research brief, most recently on Dec 9, 2022.
Latest New York State Energy Research and Development Authority (NYSERDA) News
Jan 10, 2023
Gov. Kathy Hochul spelled out a sweeping climate agenda on Tuesday as part of her State of the State address, unveiling new programs and mandates to finance New York’s transition to a green economy and move the state closer to meeting its ambitious emissions-cutting mandates. A key proposal is a cap-and-invest program recommended by the state’s Climate Action Council last month. Hochul is calling on the Department of Environmental Conservation and the New York State Energy Research and Development Authority to design a program that would set increasingly strict caps on greenhouse gas emissions. It would require fossil-fuel emitters to purchase allowances, with the proceeds invested back into emissions reduction programs. “We're taking these steps now because climate change remains the greatest threat to our planet and also to our children and our grandchildren,” Hochul said during her speech. Related The cap-and-invest program seeks to create a mechanism for New York to comply with a 2019 state climate law requiring New York to reduce emissions 40% by 2030 and 85% below 1990 levels by 2050. To lessen the financial strain of that transition on New Yorkers, Hochul called on the state Legislature to authorize $1 billion of the funds raised by the program to be annually distributed to households as “universal climate action rebates.” DEC Commissioner Basil Seggos said the state would launch “ a robust and transparent stakeholder process ” to develop the program in the coming months. Similarly, Hochul announced what she described as a “series of policies to insulate our most vulnerable households from exorbitant energy bills,” with $200 million to help more than 800,000 electric utility customers. The aid would go to those who earn less than $75,000 a year and have not been eligible for the state’s current utility discount program. Hochul also plans to launch a program called Empower Plus, designed to help 20,000 low-income families retrofit their homes with new insulation, energy-efficient appliances and electric alternatives to fossil fuel heating. Households that qualify would also be eligible for the “energy affordability guarantee” once they are fully electrified. The pilot seeks to ensure that those participating wouldn’t pay more than 6% of their income on electricity. To accelerate New York’s path away from fossil fuels, Hochul backed a proposal for new construction to be fossil fuel-free by 2025 for smaller buildings and by 2028 for larger buildings. The governor wants to prohibit the sale of any new fossil fuel heating equipment as of 2030 for smaller buildings and by 2035 for larger buildings. Both measures set the stage for a legislative fight. Hochul supported a stricter timeline to phase out fossil fuels from buildings last year but failed to get the Assembly on board. Other climate highlights from the State of the State include: The creation of the Office of Just Transition to equitably plan the state’s workforce transition to the green economy. Hochul plans to introduce the Waste Reduction and Recycling Infrastructure Act to “transfer the onus of recycling to the producer—not the taxpayers.” The bill seeks to incentivize producers to create products that reuse materials and that can be recycled instead of thrown away. Hochul vowed to commit an additional $500 million toward clean water infrastructure in her upcoming budget. The Department of Public Service will initiate a process to identify and remove the barriers to building charging infrastructure needed to electrify New York’s medium and heavy duty vehicles. A new program will offer financial assistance to municipalities to investigate sources of toxic contamination and remediate those sites in the next five years.
New York State Energy Research and Development Authority (NYSERDA) Investments
59 Investments
New York State Energy Research and Development Authority (NYSERDA) has made 59 investments. Their latest investment was in ConnectDER as part of their Grant - IV on December 12, 2021.

New York State Energy Research and Development Authority (NYSERDA) Investments Activity

Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
12/7/2021 | Grant - IV | ConnectDER | $1.5M | Yes | 2 | |
10/19/2020 | Grant | Combplex | $0.5M | Yes | 2 | |
10/19/2020 | Grant | COI Energy | $0.5M | Yes | 5 | |
10/19/2020 | Grant | |||||
10/19/2020 | Grant - II |
Date | 12/7/2021 | 10/19/2020 | 10/19/2020 | 10/19/2020 | 10/19/2020 |
---|---|---|---|---|---|
Round | Grant - IV | Grant | Grant | Grant | Grant - II |
Company | ConnectDER | Combplex | COI Energy | ||
Amount | $1.5M | $0.5M | $0.5M | ||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 2 | 2 | 5 |
New York State Energy Research and Development Authority (NYSERDA) Portfolio Exits
5 Portfolio Exits
New York State Energy Research and Development Authority (NYSERDA) has 5 portfolio exits. Their latest portfolio exit was Novomer on July 28, 2021.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
7/28/2021 | Acquired | 5 | |||
Date | 7/28/2021 | ||||
---|---|---|---|---|---|
Exit | Acquired | ||||
Companies | |||||
Valuation | |||||
Acquirer | |||||
Sources | 5 |
New York State Energy Research and Development Authority (NYSERDA) Fund History
1 Fund History
New York State Energy Research and Development Authority (NYSERDA) has 1 fund, including NYSERDA Co-Investment Fund.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
1/29/2020 | NYSERDA Co-Investment Fund | $6M | 1 |
Closing Date | 1/29/2020 |
---|---|
Fund | NYSERDA Co-Investment Fund |
Fund Type | |
Status | |
Amount | $6M |
Sources | 1 |
New York State Energy Research and Development Authority (NYSERDA) Partners & Customers
10 Partners and customers
New York State Energy Research and Development Authority (NYSERDA) has 10 strategic partners and customers. New York State Energy Research and Development Authority (NYSERDA) recently partnered with CS Energy on April 4, 2021.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
4/29/2021 | Vendor | Australia | Upstate New York’s first utility-scale solar projects set to come online this year This week developer CS Energy said it is working in partnership with the Goldman Sachs Renewable Power Group and the New York State Energy Research and Development Authority , to develop and begin construction on a 216-MWdc portfolio of new utility-scale solar projects across New York . | 1 | |
2/5/2021 | Vendor | United States | 1 | ||
1/15/2021 | Vendor | Norway | Equinor : selected for largest-ever US offshore wind award We are looking forward to developing Empire Wind and Beacon Wind together with local authorities , communities and our incoming partner bp in growing this new industry , ' says Siri Espedal Kindem , President of Equinor Wind U.S. | 3 | |
11/5/2020 | Partner | ||||
7/9/2020 | Partner |
Date | 4/29/2021 | 2/5/2021 | 1/15/2021 | 11/5/2020 | 7/9/2020 |
---|---|---|---|---|---|
Type | Vendor | Vendor | Vendor | Partner | Partner |
Business Partner | |||||
Country | Australia | United States | Norway | ||
News Snippet | Upstate New York’s first utility-scale solar projects set to come online this year This week developer CS Energy said it is working in partnership with the Goldman Sachs Renewable Power Group and the New York State Energy Research and Development Authority , to develop and begin construction on a 216-MWdc portfolio of new utility-scale solar projects across New York . | Equinor : selected for largest-ever US offshore wind award We are looking forward to developing Empire Wind and Beacon Wind together with local authorities , communities and our incoming partner bp in growing this new industry , ' says Siri Espedal Kindem , President of Equinor Wind U.S. | |||
Sources | 1 | 1 | 3 |
New York State Energy Research and Development Authority (NYSERDA) Team
1 Team Member
New York State Energy Research and Development Authority (NYSERDA) has 1 team member, including former Chief Executive Officer, President, Alicia Barton.
Name | Work History | Title | Status |
---|---|---|---|
Alicia Barton | Foley Hoag, SunEdison, and Massachusetts Clean Energy Center | Chief Executive Officer, President | Former |
Name | Alicia Barton |
---|---|
Work History | Foley Hoag, SunEdison, and Massachusetts Clean Energy Center |
Title | Chief Executive Officer, President |
Status | Former |
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