Craft Partners with DOE for Enhanced Risk Management Solutions

Craft's Innovative Partnership with the U.S. Department of Energy

Craft, a pioneer in supply chain resilience, has been selected by the U.S. Department of Energy (DoE) to enhance risk management practices as part of its ongoing efforts to safeguard critical federal investments. The decision comes as a strategic measure to ensure the security of U.S. energy infrastructure amid rising foreign influence.

Implementing Advanced Risk Assessments

The innovative risk management platform developed by Craft aims to provide thorough risk assessments for businesses seeking awards and loans through initiatives such as the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs. This collaboration signifies a major evolution in how the DoE conducts due diligence on award applicants, moving from manual vetting processes to a technology-driven approach.

Protection of U.S. Interests

Brian Mackerer, the group director for Craft's Government and Defense Sector, emphasized the importance of this technological advancement. The increased scrutiny of foreign ownership and associations through Craft’s platform ensures that federal investments are aligned with national interests. The underlying goal is to fortify U.S. energy interests against potential threats.

Broader Use Across Federal Agencies

Currently, over 500 employees from 61 different federal organizations are utilizing Craft's platform to enhance their investigative capabilities related to the SBIR program. This proactive measure allows these agencies to implement faster, more efficient risk assessments while ensuring compliance with the U.S. SBIR and STTR Extension Act of 2022.

Streamlining Due Diligence

With Craft's platform, the DoE can analyze numerous data points including patents, board memberships, politically exposed individuals, and various ownership details to validate applicants comprehensively. This newfound efficiency not only hastens the evaluation process but also safeguards the integrity of federal funds being awarded to innovative energy solutions.

The Future of Craft in Government Contracts

Craft's alliance with the DoE is part of an ongoing series of initiatives involving various branches of the U.S. government. Earlier in the year, Craft secured a significant $28 million agreement with the Secretary of the Air Force, highlighting its critical role in enhancing due diligence within the Department of Defense.

Partnerships for Enhanced Data Insights

Furthermore, Craft has established a partnership with Strider Technologies to refine the data that identifies foreign influence in supply chains. This collaboration aims to uplift the methods by which federal agencies ensure their contracts remain free from external threats.

Dedicated to Building Resilience

The vision for Craft is clear: to be the foremost risk management partner for the U.S. government. As Brian Mackerer reiterated, every initiative and partnership aligns with this commitment to enhance supply chain resilience. The company is determined to protect the integrity of U.S. investments while nurturing innovation and technological advancements.

Contact and Further Information

To learn more about Craft and its transformative impact on supply chains, interested parties can visit the company’s website or direct inquiries via their dedicated communications line. Craft remains a trusted ally for both the commercial and governmental sectors, helping ensure robust and secure supply chains.

Frequently Asked Questions

What is Craft's role in the partnership with the DoE?

Craft provides a risk management platform that conducts risk assessments for applicants in federal award programs.

How many federal organizations are using Craft's platform?

Over 500 employees from 61 different federal organizations are currently utilizing Craft's platform.

What types of data does Craft analyze for risk assessments?

Craft analyzes data points such as patents, board memberships, politically exposed individuals, and ownership details to vet applicants.

What is the purpose of the SBIR and STTR programs?

The SBIR and STTR programs aim to support innovation and technological advancement in small businesses.

How does Craft contribute to national security?

By preventing foreign influence in federal contracts, Craft plays a crucial role in securing U.S. investments and interests.

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