NYSERDA Grant Continues to Generate Profit 15 Years Later
Watervliet, NY – In 1998, Utility Systems Technologies (UST) was awarded a product development grant from the New York State Energy Research and Development Authority (NYSERDA). As the grant’s fifteen year anniversary approaches, both UST and NYSERDA continue to profit from the collaboration. The contract negotiated between the state authority and UST stipulated that UST was to pay royalties on any sag mitigation units up to 1,000 KVA for up to fifteen years from the start of the contract. This arrangement has led to returns of upwards of $45,000 worth of royalties for NYSERDA.