Argonne National Laboratory is accelerating more than protons these days. Through its Chain Reaction Innovations (CRI) entrepreneurship program, Argonne is accelerating the development of new businesses that are tackling the challenges of producing and conserving energy with new, cost effective and environmentally-sustainable technologies. Argonne is located in Lemont, Illinois, west of Chicago. It is owned by the U.S. Department of Energy’s (DOE) and operated by the University of Chicago. It is one of the largest and most scientifically diverse research centers in the world. The CRI program is supported by the Advanced Manufacturing Office within DOE’s Office of Energy Efficiency and Renewable Energy.
This summer, with the first four startups graduating from the program, CRI innovators have raised about $12.4 million in funding as of Aug. 1, 2019. Out of that total, more than $5 million has come from private equity sources, and the rest has some from various organizations – including DOE – that offer open funding opportunities.