What would happen if VSU applied for such a research grant?

According to its own PR of 19 June 2014,

Binghamton University receives $12.8 million for innovative energy research,

The NorthEast Center for Chemical Energy Storage (NECCES) at
Binghamton University has been awarded a $12.8 million, four-year
grant, announced Wednesday by U.S. Energy Secretary Ernest Moniz.
One of 32 grants awarded for a total of $100 million to fund Energy
Frontier Research Centers (EFRCs), it will help accelerate the
scientific breakthroughs needed to build a new 21st-century energy
economy.

One of 32 grants?
Some EFRC

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