Binghamton Tech Hub receives $500,000: What the latest funding means

While the Binghamton area was left out of the most recent round of Tech Hub funding, another financial boost was earmarked for its lithium ion battery manufacturing this week.

A $500,000 funding award has been given to the Binghamton University-led New Energy New York (NENY) program .

During a visit to Washington D.C., Binghamton leaders met with federal agencies, philanthropic organizations and investors. As part of the visit, Senate Majority Leader Chuck Schumer announced the funding, a Consortium Accelerator Award, designed to "further bolster the region’s efforts to addition capital investment and attract new companies."

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"Together, we are strengthening the battery supply chain while creating jobs and attracting new companies to the region," Schumer said. "I’m looking forward to making more progress as we continue to establish Binghamton as a hub for battery research and manufacturing.”

Binghamton University President Harvey Stenger said the funding will help the tech hub's mission and the visit was instrumental in highlighting the region as a valuable player in the battery manufacturing field.

“I am so proud of Binghamton and all of our consortium partners for these successful efforts in the battery and energy storage field," said Stenger. “We are excited to be on the receiving end of additional federal funds to support our progress."

This article originally appeared on Binghamton Press & Sun-Bulletin: Binghamton Tech Hub receives $500,000: What the latest funding means