Companies like Tesla and Facebook are seeing rapid growth in the field of stem cell technologies, according to a new report from The Hill.
The Hill’s technology policy analysis group says that companies like Tesla, which already make a lot of money from their cell-powered cars, are on the verge of a $2 billion annual growth in annual revenue.
“Tesla’s earnings are already in the millions of dollars a year, and it’s expected that they’ll grow even faster in the coming years,” said Alex Blaszczynski, the report’s lead author.
“With the rise of new cell-based technologies like the ‘Crowd’ and ‘CellBoost’ startups, companies will be able to leverage this new revenue stream to invest in further research, innovation, and product development.”
The report says the companies with the highest growth potential are companies that are growing in the area of stem cells, the process of creating cells from cells.
The study found that the companies have more than doubled the number of stem-cell research centers over the past decade.
“Companies like the Cellboost and Tesla are also investing in advanced technologies like high-performance computing to make their stem cell products faster and more efficient,” Blaszzczynski said.
The companies have also invested in stem- cell research in the United States, which is a boon to the country.
In 2012, the Department of Energy invested $25 million in stem cell research, with more than $20 million going to companies in the U.S. and Canada.
The federal government’s National Institute of Health has also contributed $20.5 million in funding to stem cell studies over the same time period.