The Energy Department said it was extending financing to 19 projects under development with its Advanced Research Projects Agency-Energy.
Some of the projects will focus on research into batteries for electric vehicles. Other developments in the initiative focus on energy security for the military and efficiency in the electricity grid.
About half of the projects under the energy department's plans will focus on improvements in existing battery chemistry. Others would focus on advanced cell design and electrolyte materials in battery designs.
U.S. Energy Secretary Steven Chu said the ARPA-E project would be revolutionary in terms of the benefits to energy security at home and at remote military bases.
"These cutting-edge projects could transform our energy infrastructure, dramatically reduce our reliance on imported oil and increase American energy security," he said in a statement.