The U.S. Department of Energy chose three venture capital firms for its pilot program aimed at delivering new clean technologies to the market faster. The Entrepreneur in Residence pilot program will pair each firm with one of its laboratories. Kleiner, Perkins, Caulfield & Byers of Menlo Park, Calif., will join the National Renewable Energy Laboratory; ARCH Venture Partners of Chicago will with the Sandia National Laboratory; and Foundation Capital, also of Menlo Park, will work with the Oak Ridge National Laboratory.

Each lab will host a firm, and entrepreneurs will assess technologies and market opportunities before choosing one for commercialization and negotiating a license to use the technology. The venture capital firms will form and finance a start-up business based on the technology.