1. Short title This Act may be cited as the Increasing and Mobilizing Partnerships to Achieve Commercialization of Technologies for Energy Act or the IMPACT for Energy Act . 2. Definitions In this Act: (1) Board The term Board means the Board of Directors for the Foundation described in section 3(c). (2) Chair The term Chair means the Chair of the Board described in section 3(c)(2). (3) Executive Director The term Executive Director means the Executive Director of the Board described in section 3(f)(2). (4) Foundation The term Foundation means the IMPACT for Energy Foundation established under section 3(a). (5) Secretary The term Secretary means the Secretary of Energy. 3. Establishment of IMPACT for Energy Foundation (a) Establishment (1) In general Not later than February 1, 2019, the Secretary shall establish a nonprofit corporation to be known as the IMPACT for Energy Foundation . (2) Limitation The Foundation shall not be an agency or instrumentality of the Federal Government. (b) Purpose and activities of foundation (1) Purpose The purpose of the Foundation is to provide a mechanism to channel private sector investments that support efforts to create, develop, and commercialize innovative technologies that address energy challenges, by methods that include— (A) fostering collaboration and partnerships with energy researchers from the Federal Government, State governments, institutions of higher education, federally funded research and development centers, industry, and nonprofit organizations for the research, development, or commercialization of transformative energy technologies; (B) leveraging technologies to support new product development that supports regional economic development