Congressman Barney Frank today announced that the Department of Energy will award a grant for $999,776 to Coincident, a start-up green technology company located in Lakeville, MA. The grant will support development of a low-cost energy management system which makes it possible for individuals and small businesses to make effective use of evolving "smart grid" technology.
Congressman Frank had championed the company's application in a letter to the DOE for a grant under the Small Business Innovation (SBIR) research grant program. The SBIR directs funds made available by the American Recovery and Reinvestment Act, also known as the stimulus bill.
"This grant is an investment in our future," said Congressman Barney Frank. "It will not only help develop technology that can make homes and businesses more energy efficient, but it will enable a small company to create jobs and become an engine of economic growth. This is an excellent example of what the stimulus was intended to do."
The technology developed by Coincident would help home and business owners use electricity more effectively and provide mechanisms for connecting a wide variety of "smart" appliances and devices. It would enable consumers to save money by utilizing rebate and time-of-use programs offered by electric utilities and energy service providers.