Last week, a NY company, ATK GASL, received a $1 million grant from ARPA-E, the Advanced Research Projects Agency Energy.
The grant was given to help the company figure out ways to minimize the amount of greenhouse gases emitted from burning coal.
If successful, the company will supply their findings to the government, and commercialize it to generate significant profits.
ARPA-E is a U.S. Energy Department spinoff of the Department of Defense's Advanced Research Projects Agency, which studies new military technology.
The Department of Defense is one of 25 federal grant-making agencies that fund new and existing businesses via grants. Other agencies include the Department of Agriculture, Department of Commerce, and the Department of Education among others.
To learn more about grant funding and how to get it for your business, download Growthink's Step-by-Step Guide to Raising Capital for Your Business from Grants here.