The US Department of Energy plans to select representatives of venture
capital firms to help national laboratories commercialize energy technologies
with the potential to reduce emissions and reliance on foreign oil, according
to a DOE notice issue Tuesday.

Under its new Entrepreneur in Residence (EIR) Program, DOE will assign
the specialists to the National Renewable Energy Laboratory in Colorado, Oak
Ridge National Laboratory in New Mexico and Sandia National Laboratories in
New Mexico, and eventually to other national labs, the department said.

"This program will bring entrepreneurs into the national labs to help
identify technologies that can be moved into the private sector, and help the
labs develop plans for licensing the technologies," DOE spokesman Kevin
Brosnahan said. "It's a pretty innovative approach, and helps bridge some gaps
between inventions at the national labs and successful venture capital
support."

DOE said it will provide up to $300,000 to support the program. In its
notice, the department sought applications from individuals at venture capital
firms by December 21. To be eligible, the applicants' firms must have at least
$10 million in funds available for energy efficiency and renewable energy
investments, and an overall fund of at least $100 million.

"EIRs would be expected to sign a non-disclosure agreement to facilitate
full access to lab personnel, inventions and data," the DOE notice said.
"After a technology is identified, the EIR would then be granted a 180-day
first right of refusal to license the identified technologies."