Thursday, October 16, 2008

Three Maine tech companies on receiving end of $600k grant

By Mass High Tech Staff

The Maine Technology Institute reports it has awarded three grants worth almost $600,000 to Pine Tree State technology companies.

The MTI gave $406,000 to HC Bridge Maine LLC of Brunswick. HC Bridge is planning to use the money to commercialize its hybrid-composite bridge system intended to be durable, flexible and low-cost.
 
EDOTS Technology LLC of Portland received a $138,000 grant. The company plans to use its proprietary nanoparticles in a prototype solar cell device and demonstrate an increase in the cell’s efficiency in converting solar energy into electricity in both laboratory and field studies.

Eastern Maine Development Corp. of Bangor received $50,000. The company is planning to determine the economic viability of previously identified secondary wood products, such as pre-drilled lumber and structural panels and fuel pellets, and develop a business plan for each product.

The MTI offers development awards of up to $500,000 three times a year to support early activities for product development, commercialization or business planning and development. Each award requires a 1:1 dollar match consisting of actual cash, salaries, staff time or equipment and in-kind contributions directly attributable to the proposed project, MTI said. The application deadline for the next round of awards is February 2, 2009.

MTI is a publicly financed nonprofit corporation created by the Maine legislature in 1999 to stimulate research and development leading to the technology commercialization.