WASHINGTON – Rick Stockburger, former head of Brite Energy Innovators in Warren, has been named the inaugural CEO of The Foundation for Energy Security and Innovation, the organization announced today.
As CEO, Stockburger will lead FESI and support the mission of the U.S. Department of Energy to ensure the security and prosperity of the United States by addressing energy and environmental challenges through science and technology.
“Rick’s appointment signals not just the start of his leadership, but the momentum of FESI as a credible, catalytic force in energy innovation,” said Miranda Ballentine, chair of the FESI Board of Directors. “His ability to unite stakeholders, attract investment and deliver results makes him the right leader to bring our mission to life.”
FESI was authorized by Congress in 2022 as a 501(c)(3) through the CHIPS and Science Act and was incorporated in 2024. It is the 13th organization authorized by Congress to support a federal agency.
Stockburger served as president and CEO of Brite for nearly eight years and helped grow the organization’s budget and programming. Under his leadership, Brite supported more than 200 entrepreneurs, helped generate more than $250 million in economic impact across the Midwest and expanded philanthropic funding from $400,000 to more than $5 million.
“We need a commercialization system that works for every community and every technology,” Stockburger said in a statement. “FESI is here to help close the gap between great energy ideas and lasting impact. I’m honored to serve as its first CEO and ready to get to work.”
A U.S. Army veteran and native of the Mahoning Valley, Stockburger has a proven ability to create and implement strategies with diverse stakeholders, inspiring philanthropists, startups and public-sector leaders alike to fund and act on a shared vision, FESI said in a statement.
FESI is able to help DOE accelerate the development and commercialization of critical energy technologies, foster public-private partnerships and provide additional resources to partners and communities across the country supporting solutions-driven research and innovation that strengthens America’s energy and national security goals.
“Today’s announcement marks a new chapter in how the department will deliver breakthrough technologies to market,” said U.S. Secretary of Energy Chris Wright. “Rick’s proven leadership and background will help advance the department’s efforts to move emerging technologies into real world energy deployment – strengthening American science, innovation and energy leadership. With him in place, FESI will be a valuable partner in expanding private-sector collaboration and delivering on President [Donald] Trump’s agenda to unleash American energy and innovation.”
Since launching operations earlier this year, FESI co-hosted the Spring 2025 EPIC Pitch Competition, bridging a critical gap and enabling direct collaboration between the public and private sectors. FESI will also invest in each of the top three prize-winning companies to support their continued growth and help transition critical technologies to the market.
The organization also announced a commitment to invest in DOE’s Rural and Municipal Utility Advanced Cybersecurity program, which safeguards the electric grid by providing rural and municipal utilities with tools, training and funding to counter evolving cyberthreats. FESI’s investment will provide technical assistance to resource-constrained community-based utilities – crucial to powering rural America’s homes, farms and businesses – enabling access to critical funding needed to protect the nation’s energy security.
Since its formation, FESI has generated significant fundraising momentum. Last year, the organization raised more than $5.5 million, with an additional $6 million in commitments and invited proposals – more than doubling the initial investment appropriated by Congress in 2024. FESI has also secured a $5 million grant from Builders Vision, along with a commitment that Builders Vision will provide matching funds up to $5 million as FESI continues its fundraising momentum.
Pictured at top: Rick Stockburger, FESI CEO, and Anthony Pugliese, U.S. Department of Energy chief commercialization officer and director of the Office of Technology Commercialization, at the FESI Board of Directors meeting in Chicago, Ill., on July 23.