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The basics:

• NJEDA, SOSV, PPPL launch HAX Plasma Forge near Princeton
• $49M total investment to back plasma startups and lab operations
• New center to support low-temp plasma research, commercialization
• Part of NJ’s growing Strategic Innovation Center network

The state announced its 11th Strategic Innovation Center June 17.

The New Jersey Economic Development Authority will partner with SOSV and Princeton Plasma Physics Laboratory to launch HAX Plasma Forge. The new SIC in the Princeton area will focus on commercializing plasma research.

The collaboration aims to leverage PPPL’s world-class research and SOSV’s robust investment experience to

• Boost plasma-focused startup creation and acceleration;
• Promote industry collaboration; and
• Commercialize groundbreaking technologies in this emerging sector.

As NJBIZ has reported, PPPL (a Department of Energy national laboratory managed by Princeton University) is the nation’s premier physics lab and a global leader in this space. Plasma is already powering major innovations, from the pursuit of nuclear fusion to cutting-edge chip manufacturing.

A $49 million investment

This partnership also marks the latest SIC between NJEDA and SOSV. The parties also joined together to establish the HAX U.S. headquarters. That Newark SIC provides support for emerging hard tech companies.

“Through targeted investments and expanded resources for our state’s entrepreneurs, New Jersey is poised to lead in innovative industries like plasma and artificial intelligence,” said Gov. Phil Murphy. “The NJ HAX Plasma Forge, along with other Strategic Innovation Centers across New Jersey, will support startup creation, generate high-paying jobs, and strengthen the state’s long-term economic competitiveness.”

Pending board approval, the NJEDA plans to invest $24.5 million to support the operations of the new SIC as well as investment into participating companies.

“Under Gov. Murphy’s leadership, New Jersey is partnering with inventive entrepreneurs, world-class academic institutions, and private sector experts to strengthen the state’s position as a leader in innovation,” said NJEDA Chief Executive Officer Tim Sullivan. “With the support of the NJEDA’s Strategic Innovation Center initiative, entrepreneurs will be able to harness transformative advances in plasma research to create businesses that drive this exciting industry forward and further the state’s ambitious clean energy and energy resiliency goals.”

Princeton-based SOSV will operate the SIC in collaboration with PPPL. It will provide up to $24.5 million in seed funding to startup companies. Additionally it will also engage with established industry leaders to work alongside entrepreneurs and researchers.

Together with NJEDA, that makes $49 million combined investment into the new SIC.

Preparing the ‘plasma valley’

“Plasma is a powerful tool in the deep tech arsenal — a technology that unlocks nuclear fusion, powers advanced spacecraft, and manufactures futuristic AI chips,” said SOSV General Partner and HAX Managing Director Duncan Turner. “PPPL is a world-renowned leader in this field, and we’re thrilled to partner with them to unlock new possibilities. This new lab, made possible by the NJEDA, will allow us to expand and deepen our work supporting startups building in plasma.”

Key things to know:

• Includes up to 10,000 square feet of lab space and coworking space. Also features equipment, staff and infrastructure suitable for low-temperature plasma research
• Located near PPPL’s Princeton-area facility
• Seeks to help New Jersey establish a “plasma valley” that supports economic growth while contributing to clean energy as well as technological competitiveness

PPPL Laboratory Director Steve Cowley said the center will help bridge the gap between breakthrough science and real-world impact.

“PPPL brings world-class talent and capabilities and is uniquely positioned to drive innovation in the state and the nation,” said Cowley. “Partnering with SOSV and NJEDA will expand our scientific footprint, enabling our expertise to drive economic development and advance new technologies.

“This is an exciting new chapter.”