The U.S. Department of Energy (DOE) has announced the creation of the Foundation for Energy Security and Innovation (FESI), the first agency-related foundation of its kind. FESI will help DOE achieve its mission of ensuring America’s continued security and prosperity through science and technology solutions. It will also support the commercialization of new and existing energy technologies through investments and engagements with the private sector and philanthropic communities.
Benefits of FESI for DOE
DOE has established twelve independent 501 (c) (3) agency-related nonprofit organizations since 1959. These organizations generated an average return of $67 for every dollar of federal contribution. Once established, FESI will bring greater flexibility and efficiency to the way DOE supports a broad portfolio of energy research, commercialization, and coordination. It will foster public-private partnerships, invest in companies commercializing critical energy technologies, support underrepresented groups and regions responding to DOE funding opportunities, and address a wide range of systemic and distributed federal, state, and local deployment challenges.
The Request for Information (RFI) soliciting comments
FESI is subject to the Request for Information (RFI) to solicit public and stakeholder input on how DOE can engage with the foundation and the communities it will serve. The RFI is requesting information from potential stakeholder groups, including philanthropic and nonprofit organizations, community stakeholders, DOE National Laboratory foundations, potential investors in companies developing technologies aligned with DOE’s mission, industry stakeholders, particularly those representing diverse regions, sectors, and communities, and other potential stakeholders or collaborators.
Reactions from political figures
Several political figures have expressed their support for the creation of the FESI. U.S. Senator Lindsey Graham (R-SC) said FESI is an opportunity for the Department of Energy to partner with the private sector, creating a unique opportunity for innovation. U.S. Senator Chris Coons (D-DE) also welcomed the creation of FESI, saying it will boost U.S. competitiveness and channel private sector investment into critical partnerships between the Department of Energy, its world-class national laboratories, the private sector and the philanthropic community.
