High temp GT tools to benefit from new DOE funding

In Washington, DC, Energy Secretary Steven Chu announced $30 million in funding from the Recovery Act and FY 2010 budget appropriations that will be made available to qualified small businesses to support the commercialization of promising new technologies. The funding announcement marks the first time the DOE has made Phase III awards under small business programs. On the geothermal side, the loans are targeting developments in High Temperature Tools and Sensors, including High Temperature Downhole Tools, High-Temperature-High-Volume Lifting, and High Temperature Downhole MWD Tools for Directional Drilling. Applications are currently being accepted.