WESTBOROUGH, MA (September 14, 2004) – Massachusetts Technology Collaborative (MTC) Executive Director Mitchell Adams today announced $1.6 million in funding from the state’s Renewable Energy Trust to support eight high-tech companies across the state. The infusion of capital will help companies commercialize new clean energy technologies and products including solar, fuel cells and wind.
“This funding comes at just the right time in the evolution of these young companies as they take the critical next step in new product development,” said Adams. “We are planting seeds in businesses with tremendous potential for innovation in the growing clean technology cluster in Massachusetts.”
Through a highly competitive process, the Trust made awards that provide flexible financing to the following renewable energy companies:
Lilliputian Systems, Woburn, MA -- Fuel Cell;
Fideris, Expanding into MA -- Fuel Cell;
Nanoptek, Maynard, MA -- Solar/ Hydrogen
Second Wind, Somerville, MA -- Wind;
Solectria, Woburn, MA -- Solar/ Power Electronics;
Agrivida, Cambridge, MA -- Biomass;
Seahorse Power, Winchester, MA -- Solar PV;
SolarOne Solutions, Wellesley, MA -- Solar PV.
“It is tremendously exciting to support such a broad array of businesses and entrepreneurs, which are developing path breaking products and technologies that will advance renewable energy solutions,” said Rob Pratt, Director of the Renewable Energy Trust. “This funding is leveraging significant private investment while delivering new jobs and business operations to the Commonwealth.”
MTC administers the Renewable Energy Trust, which was established to generate the maximum economic and environmental benefits from clean energy resources for the Commonwealth. The Trust is an essential part of the state’s strategy to reduce dependence on foreign energy sources by encouraging the use of renewable resources such as wind, solar, biomass, fuel cells and landfill gas. Please visit the agency’s website www.masstech.org for more information.
