The US will invest more than $290 million in public-private funding for two new Manufacturing Innovation Hub Competitions, one in smart manufacturing at the Department of Energy and one in flexible hybrid electronics at the Department of Defense, President Obama announced late last week.
Each institute will receive $70 million or more of federal investment to be matched by at least $70 million from the private sector.
The White House says new smart manufacturing technologies — including advanced sensors and sophisticated process controls — can improve energy efficiency in manufacturing and save manufacturers costs. For energy intensive industries — like chemical production, solar cell manufacturing, and steelmaking — these technologies can shave 10 percent to 20 percent off the cost of production.
In October, the DOE announced five projects will receive up to $13.4 million in DOE funding to develop advanced biofuels and bioproducts.