Steven Chu Gives Green tech / IT a $47 million shot in the arm

Steven Chu announced today that the Department of Energy is awarding for 14 projects across the country to support the development of new technologies that can improve energy efficiency in the information technology (IT) and communication technology sectors. The data processing, data storage, and telecommunications industries are a crucial part of the American information economy. The rapid growth of these industries has led to an increase in electricity use, but improvements in the sector's energy efficiency can provide significant energy and cost savings. The energy efficiency projects announced today will reduce energy use and carbon pollution, while helping to develop a strong, competitive domestic industry.

The $47 million in federal funds for these projects will be matched by more than $70 million in private industry funding, for a total project value of more than $115 million.

"These Recovery Act projects will improve the efficiency of a strong and growing sector of the American economy. By reducing energy use and energy costs for the IT and telecommunications industries, this funding will help create jobs and ensure the sector remains competitive," said Secretary Chu. "The expected growth of these industries means that new technologies adopted today will yield benefits for many years to come."
Please read full VIA EERE (DOE)