Binghamton University's New Energy New York project is one step closer to securing $160 million in the National Science Foundation's Regional Innovation Engines competition.

Senator Chuck Schumer made the announcement this morning that the project has advanced to the final round of consideration for the competition. It is one of 34 semifinalist projects.

BU's project consists of establishing a battery hub to improve all components of the battery technology supply chain, primarily launching new initiatives to strengthen the supply chain, transfer technologies from lab to market, mobilize resources around research and development to aid manufacturing initiatives, and grow partnerships.

BU could receive up to $160 million over 10 years if it wins. It has already been awarded over $113 million in Build Back Better funds and money from the state.