The New Jersey Economic Development Authority (NJEDA) has announced a partnership with venture capital firm SOSV and the U.S. Department of Energy’s Princeton Plasma Physics Laboratory (PPPL) to establish a new Strategic Innovation Center in the Princeton area. The NJ HAX Plasma Forge aims to transform plasma physics research into startups, jobs, and novel technologies by leveraging PPPL's research and SOSV’s investment experience.
Governor Phil Murphy highlighted New Jersey's commitment to leading innovative industries, stating that "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."
NJEDA Chief Executive Officer Tim Sullivan emphasized the role of partnerships in strengthening New Jersey's position as an innovation leader. "With the support of the NJEDA’s Strategic Innovation Center initiative, entrepreneurs will be able to harness transformative advances in plasma research," he said.
The HAX Plasma Forge will feature up to 10,000 square feet of lab and co-working space near PPPL’s facility. It will focus on low-temperature plasma research critical for semiconductor manufacturing and fusion supply chain development. SOSV plans to provide up to $24.5 million in seed funding for startups at the center, pending NJEDA Board approval.
SOSV General Partner Duncan Turner expressed enthusiasm for the collaboration with PPPL: “Plasma is a powerful tool in the deep tech arsenal... At SOSV, we’ve already backed a handful of startups harnessing plasma technology.”
PPPL Director Steve Cowley noted that "partnering with SOSV and NJEDA will expand our scientific footprint," allowing their expertise to drive economic development.
Strategic Innovation Centers like this one offer mentorship, networking opportunities, hands-on training, business support services, and educational opportunities. The NJEDA has invested in 11 such centers across various industries including artificial intelligence and life sciences.
For more information about NJEDA's Strategic Innovation Center initiative, visit their website.
