The Department of Energy’s Princeton Plasma Physics Laboratory, or PPPL, has formed a partnership with venture capital firm SOSV and the New Jersey Economic Development Authority, or NJEDA, to advance plasma technology.
PPPL said Wednesday the collaborative effort aims to establish a strategic innovation center to facilitate advanced plasma research and accelerate the commercialization of plasma technologies. The center also aims to foster an ecosystem for startups focused on plasma technology.
NJ HAX Plasma Forge
The Strategic Innovation Center, NJ HAX Plasma Forge, will leverage PPPL’s research capabilities with SOSV’s investment expertise to launch and expand new businesses and accelerate the deployment of new plasma technologies. Its focus on low-temperature plasma research will also be instrumental in strengthening the semiconductor supply chain.
The new center will have around 10,000 square feet of space for laboratories and co-working areas. It will be built near the PPPL in New Jersey. The location was selected mainly because of its proximity to Princeton University and Columbia University, which have fusion research programs. New Jersey is also home to companies focused on fusion technology.
“Under Governor Murphy’s leadership, New Jersey is partnering with inventive entrepreneurs, world-class academic institutions and private sector experts to strengthen the state’s position as a leader in innovation,” said Tim Sullivan, CEO of NJEDA. “With the support of the NJEDA’s Strategic Innovation Center initiative, entrepreneurs will be able to harness transformative advances in plasma research to create businesses that drive this exciting industry forward and further the state’s ambitious clean energy and energy resiliency goals.”
