By Boston Business Journal

Two Bay State companies and the Massachusetts Institute of Technology will receive a total of $7.4 million for energy research projects, the U.S. Department of Energy announced Monday.

The funding, provided through the DOEâ¿¿s Advanced Research Projects Agency-Energy (ARPA-E), comes from the American Recovery and Reinvestment Act.

Tyngsborough, Mass.-based Beacon Power Corp. (Nasdaq: BCON) will receive $2.2 million for a flywheel energy storage project, while Newton, Mass.-based General Compression Inc. is slated to get $750,000 to investigate an energy storage process that uses compressed air and requires no fossil fuels.

Meanwhile, a project led by MIT will receive $4.4 million in the funding round. The project aims to improve the size, integration and performance of power electronics for high-efficiency solid-state lighting. The funding, which totaled $92 million nationwide, represents the third and final round of ARPA-E grants from Recovery Act funding.

In April, Massachusetts universities and companies received $22.1 million in the second round of energy research funding from ARPA-E.

Copyright 2010 American City Business Journals
Copyright 2010