SANTA FE, New Mexico — New Mexico has offered state grants of up to $1 million to small businesses developing clean energy technologies under a program aimed at accelerating innovation and commercialization in the advanced energy sector.
In a press release, the New Mexico Economic Development Department (EDD) announced the opening of the third round of its Advanced Energy Award. It offers funding to companies conducting R&D or early-stage pilot projects.
The department launched the program in 2024, funding 12 New Mexico companies with a total of $6.7 million.
Small businesses have until 5 pm Mountain Standard Time on March 17, 2026 to apply for the grants.
Two funding tracks
The New Mexico Advanced Energy Award (NMAEA) is a competitive, state-funded grant program providing non-dilutive funding to small businesses engaged in research and development.
According to the Technology and Innovation Office (TIO), the program backs innovation aimed at commercialization, supporting technologies designed to make energy use cleaner, safer, more secure, and more reliable.
NMAEA has two categories: Research and Development, and Pilot Projects.
Under the Research and Development category, the program supports companies conducting foundational research, proof-of-concept efforts, and product development. The aim is to translate scientific and technical advances into market-ready solutions.
To qualify for this category, a company must have its headquarters in New Mexico.
Pilot Projects category, on the other hand, focuses on demonstrating the viability of new technologies through pilot deployments or early-stage implementation. This is for projects ready to collect performance data and validate commercial potential.
Companies outside New Mexico may apply under the Pilot Projects category. But they must be authorized to do business in the state, establish and maintain a local presence, and use the funds to support in-state activities.
Webinar set
EDD will hold a webinar on February 24, 2026, at 1 pm MST to guide prospective applicants through the program requirements, eligibility criteria, and application process.
More details, including webinar registration and application guidelines, are available on the department’s website.