The United States Government awards South Carolina $45 Million to Advance Cyber-Secure Grid Resilience Technologies

In an effort to strengthen the nation’s economic competitiveness and national security, the United States government has granted a generous sum of $45 million to South Carolina’s SC NEXUS. The funds have been released under the aegis of the Economic Development Administration’s (EDA) Tech Hubs program, an initiative of the U.S. Department of Commerce that aims to scale up the production of crucial technologies, foster innovation-driven job creation, and fortify the strategic economic fortitude of the country.

SC NEXUS: A Federally Designated Tech Hub

In Fall 2023, the EDA had recognized SC NEXUS as one of the 31 federally acknowledged tech hubs across the United States, thereby qualifying it for a slice of the approximately $500 million grant funding pie. Today, SC NEXUS is among just 12 of these tech hubs to have been awarded the funding. The $45 million investment is expected to strengthen SC NEXUS’s positioning as a tech hub by capitalizing on their strong manufacturing base, extraordinary research capabilities, and track record of effective public-private collaborations. The funds are aimed at promoting the commercialization of innovative energy storage materials and manufacturing techniques.

Committed to a Brighter Energy Future and Economic Resilience

The Governor of South Carolina, Henry McMaster, hailed the occasion as a transformative one for both the state and SC NEXUS. He underscored the agency’s relentless efforts to bolster the state’s energy prospects and economic competitiveness. “Once again, our ability to collaborate and utilize our greatest resource – our people – has been recognized through the awarding of this funding,” remarked the Governor.

Funding for Four Projects

Out of the six projects proposed by SC NEXUS, the EDA has approved funding for four. These include the Grid Enabled Cyber Operations Range project, Economic Development Through Grid Emulation (EDGE) project, Carolina Institute for Battery Innovation (CIBI) project, and the Education and Workforce Center project. However, the Entrepreneurship and Innovation Exchange (EiX) project and the H2 Testbed project failed to secure federal funding. Despite this setback, both these projects remain high on SC NEXUS’s priority list, and further development efforts continue to be underway.

A Thriving Consortium

SC NEXUS is a consortium comprising more than 50 public and private entities. As a federally designated tech hub, it is now entitled to priority in future EDA funding opportunities. For more information about SC NEXUS or about joining the tech hub, please refer to scnexus.org.

Other News: Independent Forensic Accounting Review of State Funds

In other news, Governor Henry McMaster announced the commencement of an independent forensic accounting review of state funds. This was followed up by substantial groundwork by a working group constituted earlier to probe into questions surrounding a reported $1.8 billion in state funds. In tandem with Proviso 93.19 of the 2024-2025 state budget, the Department of Administration is preparing to invite proposals from independent accounting firms for an in-depth review of cash and investments held in the State Treasury, as well as those recorded in the state’s annual comprehensive financial reports (ACFR).

Author: HERE Myrtle Beach