The New Mexico Advanced Energy Award (NMAEA) is a competitive state-funded grant that awards non-dilutive funds to small businesses engaged in research and development or pilot demonstrations with a focus on advanced energy innovation and commercialization. TIO defines advanced energy as technology and innovation that makes energy use cleaner, safer, more secure, and more reliable. The funds seek to assist early-stage companies developing a unique product with strong growth potential.
Through this award, the New Mexico Economic Development Department (EDD) ultimately seeks to support the retention, expansion, or relocation of economic-base businesses, the creation of jobs in economic-base businesses, the development of the tax base, and business development.
Applicants may request any amount up to $1,000,000 but should only request what is needed to successfully complete the proposed work. Awards will be made dependent on application evaluation scoring and funding availability. The NMAEA may not be first money in. Companies will be required to provide documentation of previously secured funding from additional sources.
The NMAEA is split into two award classes: Research and Development (R&D) and Pilot Projects.
Applicants can only apply for one of the two award classes below, not both.
Previous awardees of the NMAEA from FY24 and FY25 are eligible to apply for the above award classes with the goal of further scaling, refining, or expanding upon the scope of their previous award.
TIO is accepting applications for the New Mexico Advanced Energy Award now through March 17, 2026 at 5PM MST.
An informational webinar will be held on February 24, 2026 at 1PM MST. Register to attend here.
