Foundation for Energy Security and Innovation

Stored: Foundation for Energy Security and Innovation

Foundation for Energy Security and Innovation Type: Non-profit Parent organization: Department of Energy Top organization: Department of Energy Employees: Executive: Executive Director Budget: $3.5 million initial appropriation (Fiscal Year 2024) Address: 1000 Independence Ave SW, Washington, DC 20585, USA Website: https://www.energy.gov/fesi Creation Legislation: CHIPS and Science Act of 2022 Wikipedia: Foundation for Energy Security and Innovation

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Mission Foundation for Energy Security and Innovation speeds up energy tech development via partnerships, boosting DOE’s security mission.

Services Technology commercialization support; public-private partnership facilitation; funding for energy innovation

Regulations

Foundation for Energy Security and Innovation (FESI) is an independent nonprofit established to advance the U.S. Department of Energy’s mission by accelerating the commercialization of clean energy technologies through partnerships with private and philanthropic sectors. Authorized by the CHIPS and Science Act of 2022 and launched in May 2024, FESI bridges gaps in the energy innovation ecosystem, supporting projects like critical infrastructure protection and regional energy innovation, while enhancing national security and economic growth.

Official Site

Mission

FESI’s mission is to complement DOE efforts by raising private funds to support the creation, testing, and deployment of innovative energy technologies that address national energy challenges, including climate goals and equitable access for underserved communities. It aims to leverage DOE’s research prowess, channeling resources into initiatives like the Energy Program for Innovation Clusters (EPIC) and critical infrastructure security, ensuring technologies transition from labs to market efficiently.

Parent organization

FESI is an agency-related foundation under the Department of Energy, which provides oversight and collaboration through the Office of Technology Transitions (OTT). The Department of Energy is its top organization, aligning FESI’s activities with national energy and security priorities.

Legislation

FESI was authorized by the CHIPS and Science Act of 2022, signed into law on August 9, 2022, under Section 10661, establishing it as DOE’s first nonprofit foundation to foster innovation.

Partners

FESI collaborates with:

• Department of Energy (primary partner)
• Private sector companies for technology investment
• Philanthropic organizations for funding support

Number of employees

FESI’s employee count is not publicly specified as it’s a new entity relying initially on DOE staff support and a small core team, with plans to expand via hires overseen by its board.

Organization structure

FESI operates under a board of directors, with no formal sub-organizations yet, focusing on:

• Technology Acceleration supports commercialization efforts.
• Partnership Development builds public-private consortia.
• Community Engagement targets underserved regions.

Leader

FESI will be led by an Executive Director, a position to be appointed by its board, with strategic direction currently guided by the inaugural board appointed in May 2024.

Divisions

Efforts include:

• Investment Programs for funding energy tech startups.
• Collaboration Initiatives with national labs and industry.
• Outreach Projects for regional innovation ecosystems.

List of programs

FESI’s initial programs include:

• Energy Program for Innovation Clusters (EPIC) support
• Critical Infrastructure Defense funding
• Regional Energy Innovation Support

Last total enacted budget

FESI received an initial $3.5 million appropriation in FY 2024 from DOE to establish operations, with plans to raise additional private funds.

Staff

Staffing details are limited; FESI currently relies on DOE personnel and a small foundational team, with board members like Rita Baranwal and Vicky Bailey shaping its early staff structure.

Funding

FESI’s funding began with a $3.5 million FY 2024 federal appropriation, supplemented by private and philanthropic contributions, aiming to multiply DOE’s impact through external investments.

Services provided

FESI facilitates technology commercialization, supports startups via programs like EPIC, and funds infrastructure security projects, enhancing DOE’s ability to deploy energy innovations nationwide.

Regulations overseen

FESI does not oversee regulations but operates under DOE’s policy framework, complementing rather than duplicating federal efforts.

Headquarters address

1000 Independence Ave SW, Washington, DC 20585, USA (DOE headquarters, as FESI’s base)

History

FESI’s roots trace to a 2021 NAPA report advocating a DOE foundation, leading to its authorization in the CHIPS and Science Act of 2022. Launched in May 2024 with its first board, it announced initial investments in December 2024, marking a rapid start to supporting energy innovation.

External links

• Official Website
• wikipedia:Foundation_for_Energy_Security_and_Innovation
• PR Newswire Announcement
• Friends of FESI