U.S. Rep. Bill Pascrell, Jr. (D-NJ-8) today announced federal funding, including an award from the American Recovery and Reinvestment Act (ARRA), to Exelus, Inc. The small Livingston-based firm has become a major player in the development of alternative energy sources.
"Major corporations aren't investing in R&D as they did in the past. The former Exxon site in nearby Florham Park is now where the New York Jets practice. In many ways, we're back to the days of innovation and discovery being driven by smaller firms, not unlike Thomas Edison and his team who worked only a few miles from Exelus' Livingston, N.J. headquarters," said Pascrell, a House Ways and Means Committee member who voted with the House majority in favor of the federal stimulus in February 2009.
"The company's chemical engineering breakthroughs are putting the nation on a course that will reduce foreign oil imports, reduce greenhouse gas emissions, improve energy efficiency and even reduce our dependence on off-shore oil drilling. I want to congratulate Exelus, their President and Founder Mitrajit Mukherjee, and all of their hardworking employees."
Exelus was recently awarded two grants from the U.S. Department of Energy (DOE).
The company was awarded $1 million from the DOE's recently formed Advanced Research Projects Agency-Energy ("ARPA-E"), which received a total of $400 million under the Recovery Act. This is just one of the Recovery Act's nearly $70 billion in total investments and tax incentives aimed at creating thousands of high-paying, green jobs as our nation's transitions to a Green Energy Economy.
Exelus also received $1.2 million from the DOE's Biomass program, which provides grants to research and develop technologies to produce biofuels, bioenergy and high-value biobased products from materials that are as common as yard waste and sawdust.
Projects like these are aimed at increasing the availability of alternative fuels and biobased products that are produced from a diverse group of renewable sources of biomass.