As the Advanced Research Projects Agency–Energy celebrates its fifth birthday next month, it boasts a portfolio of 362 clean-energy projects. Backed by more than $900 million in grants, those projects span 18 technology areas that range from developing innovative renewable energy sources to exploring alternatives to rare-earth metals and microorganisms for the reduction of vehicle emissions. Twenty-two of the awardees, who were recipients of ARPA–E grants totaling $95 million, have attracted a total of $625 million in private financing. In addition, at least two dozen project teams sponsored by ARPA–E have spawned new companies to commercialize their technologies.
Although those numbers may seem impressive, ARPA–E’s future, let alone growth, isn’t altogether assured given the austere budget climate. The House of Representatives had passed a bill last year that would have slashed ARPA–E’s fiscal year 2014 budget to $50 million, an 81% reduction from the $265 million provided in FY 2013....
