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New Mexico Advanced Energy Award
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.
Research and Development
Igniting new discoveries, fostering groundbreaking scientific inquiry, and developing novel technologies from concept to early-stage prototypes. This award class supports companies engaged in foundational R&D, proof-of-concept, product development, aiming to translate scientific and technical advancements into tangible, market-ready solutions. Only companies headquartered in New Mexico are eligible for this award class.
Pilot Projects
Bringing promising innovations to life through real-world application, testing, and scaled demonstrations. This award class supports transitioning research into practical, market-ready solutions. Ideal for projects ready to prove their viability, gather critical data, and showcase their impact through pilot demonstrations or initial deployments. Companies headquartered in or outside New Mexico are eligible for this awards class; out-of-state companies must be authorized to do business in New Mexico, establish and maintain an in-state presence, and use awarded funds to support New Mexico activities.
Applications are now closed.
Past Awardees
2025
Carbogenics USA (Santa Fe) $440,000
The company upcycles liability biomass, like fire-devastated forest woodlands, into a novel biochar called CreChar that can be used as a bio-additive to enhance the production volume and quality of biogas, and prevent carbon emissions.
Firescape Inc. (Albuquerque) $500,000
Firescape delivers the most advanced suite of wildfire management tools to assist electric utility companies in confronting increasing wildfire risk.
KiloNewton LLC (Albuquerque) $550,000
They provide full-scope solar design engineering services and engineering consulting services to solar tracker manufacturers worldwide to make renewable energy more competitive.
Spiritus Technologies PBC (White Rock) $925,000
Spiritus offers high-quality direct-air capture (DAC) carbon removal that captures and isolates megaton-scale CO2 from the atmosphere.
VastVision Technologies, Inc. (Albuquerque) $925,000
The company is developing a new class of wireless and passive magnetoelastic sensor systems and integrated software, including MagTag, which enables real-time, interference-immune sensing of hydrogen gas leaks, ground faults, and environmental conditions.
As finalists at the pitch event, Dash2 Labs in Albuquerque and The Trollworks in Silver City, were also awarded $10,000 each to support further growth.