California Energy Commission

The California Energy Commission (CEC) is not a traditional venture capital firm but rather the Golden State's primary energy policy and planning agency, established by the Legislature in 1974. Its role extends beyond policy to actively fostering innovation and deployment of clean energy technologies through various funding mechanisms, primarily grants, loans, and incentives. The CEC's "investments" are strategic allocations of public funds aimed at achieving California's ambitious climate and energy goals, including decarbonization, grid reliability, and energy equity.

The CEC manages several key programs designed to accelerate the transition to a clean energy economy. A prominent example is the Electric Program Investment Charge (EPIC) program, which funds applied research, development, and demonstration projects for clean energy technologies and approaches. Another significant initiative is the Clean Transportation Program, which has invested over $1 billion since its inception in 2008 to support the development and deployment of advanced transportation technologies and infrastructure, including electric vehicle charging and hydrogen fueling stations. These programs target areas such as renewable energy generation, energy efficiency, energy storage, smart grid technologies, and low-carbon fuels.

Funding opportunities from the CEC are typically structured as competitive solicitations, with awards varying significantly based on the program's objectives and the project's scope. While smaller grants for feasibility studies or pilot projects might begin around $100,000, larger awards for significant demonstration or deployment projects can frequently reach into the multi-million dollar range. For instance, the CEC has provided individual grants exceeding $15 million for substantial clean energy infrastructure or technology scale-up initiatives. These funds are instrumental in de-risking nascent technologies and bringing them to market, thereby contributing to California's leadership in clean energy innovation.