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The Fraunhofer Center for Sustainable Energy Systems confirmed details today of the facility it will be establishing in South Boston that was first reported by Mass High Tech one month ago. Among the details is the cost – the new center will be a $19.5 million Clean Energy Center.
The news broke last month when the Massachusetts Development Finance Agency approved a $3 million loan to an LLC entity that planned to rehabilitate 5 Channel Center in South Boston and have Fraunhofer USA lease it. The facility will house Fraunhofer CSE’s technical R&D labs and a startup accelerator called TechBridge, according to the official release.
TechBridge is a joint clean technology commercialization program with the New England Clean Energy Council, Massachusetts Clean Energy Center and the Association of Cleantech Incubators of New England. The U.S. Department of Energy awarded Fraunhofer CSE a $1 million grant in September to help finance the accelerator program called U-Launch, which is managed by the TechBridge group within Fraunhofer CSE.
The Fraunhofer Clean Energy Center will also serve as a sustainable energy technology demonstration showcase, officials said.
Initially launched in 2008 as a joint project between the MIT Energy Initiative, the Massachusetts Technology Collaborative and the German R&D organization Fraunhofer Institute, the Fraunhofer Center for Sustainable Energy Systems is a nonprofit R&D lab based in Cambridge. Fraunhofer CSE is financed by the Massachusetts Clean Energy Center, National Grid and anonymous private donors in the U.S., as well as the German Federal Government’s Ministry for Education and Research and the Fraunhofer Institute for Solar Energy Systems.
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