Under the fund, financing is being made available for green companies seeking to match investments from New York State Energy Research & Development Authority (NYSERDA)-qualified investors.
Eligible firms must be based in New York, or if outside the state, “must show a demonstrated benefit to the state”.
NYSERDA has already qualified 18 investors so far, including Clean Energy Ventures, Greenbacker Labs, Marubeni America Corporation and Urban Us.
Other investors interested in becoming qualified for the Co-Investment Fund can apply to do so.
Alicia Barton, President and CEO, NYSERDA, said: “Emerging cleantech companies are the foundation of New York’s clean energy future, making it critical that we continue providing the support and tools they need to succeed.
“Investing in new technologies will play an increasingly vital role in our success as Governor Cuomo continues to lead the nation with his ambitious clean energy goals and agenda and NYSERDA is proud to continue its work making investments and matching investors with New York’s cleantech companies of the future.”