ARPA-E Awards Booz Allen $550M Contract to Support Energy Technology Innovation

Core Insights - Booz Allen Hamilton has been awarded a ten-year contract worth $550 million by the U.S. Department of Energy's ARPA-E to advance innovative energy technologies aimed at reducing emissions and enhancing energy efficiency [1][2][3] - The company has a long-standing partnership with ARPA-E, having played a crucial role since its inception in 2009, and will provide technical and operational support to help de-risk emerging technologies [1][2][3] - Booz Allen's multidisciplinary team, including over 50 Ph.D.s, will support the entire lifecycle of early-stage technologies, focusing on identifying climate and energy challenges and fostering an innovation ecosystem [2][3] Company Overview - Booz Allen Hamilton employs approximately 33,800 people globally and reported revenue of$9.3 billion for the 12 months ending March 31, 2023 [6] - The company has a history of supporting various ARPA programs, including ARPA-H, IARPA, and DARPA, and has been involved in significant ARPA-E projects that have attracted over $12.1 billion in private-sector funding [1][3] - Recent successes include advancements in hybrid-electric flight, direct air capture technology, and the development of thermophotovoltaic cells [3] Strategic Goals - The contract aims to identify and support innovative technologies that are too nascent for private sector investment, ultimately leading to long-term funding and deployment [1][2] - Booz Allen seeks to drive disruptive solutions that enhance U.S. economic prosperity, national security, and environmental wellbeing through its partnership with ARPA-E [3] - The company is focused on creating a robust innovation ecosystem, including competitions to stimulate technological advancements [2][3]