Two Santa Fe startups receive matching grants from state
Mar. 4—Two Santa Fe startups — one that specializes in measuring greenhouse gas emissions, the other focused on providing materials for advanced nuclear power — recently received matching grants from the state, the New Mexico Economic Development Department announced last month.
Santa Fe-based Molten Salt Solutions, which is developing technology for large quantities of isotopically enriched material used for advanced fission and fusion nuclear power, received a $100,000 matching grant, the department said.
Southwest Sciences, also based in Santa Fe, received $50,000 to speed up technology commercialization for the measuring of greenhouse gas emissions used in "a wide variety of agricultural, industrial and natural sources," the department added. Overall, seven companies across the state received Small Business Innovation Research and Small Business Technology Transfer grants for the 2024 fiscal year, the department said.
The department's Office of Strategy, Science and Technology administers the grants. Nora Meyers Sackett, the office's director, said in a statement the grants focus on companies in the biosciences, sustainable energy, climate technology and aerospace — all areas considered target industries by Gov. Michelle Lujan Grisham. The money aims to help New Mexico businesses reach market entry and aid in customer acquisition, business expansion, job creation and increase the tax base, the department said.
"By investing in our technology startups, the Economic Development Department is nurturing the next generation of innovation — these companies are diversifying the economy and helping to build the highly paid, skilled economy of tomorrow," said acting Cabinet Secretary Mark Roper.
