Celebrating Green Businesses – Happy Earth Day

April 22, 2024 | President’s blog

It’s hard to believe with the recent snowfall and storms that Earth Day has arrived. Since 1970, Earth Day has marked a harbinger of change, inspiring first the creation of the Environmental Protection Agency, then the Clean Air Act and, a few years later, the Clean Water Act.

At MTI we have a long track record of supporting businesses with a focus on clean technologies. Our portfolio represents a range of innovative businesses which create

wood fiber from Maine forest

Tanbark uses sustainably harvested Maine timber to replace single use plastics

jobs and spur Maine’s economy while simultaneously mitigating climate change, removing harmful plastics from the environment, and incorporating clean technologies as they scale.  This month, in honor of Earth Day, we’ll highlight a few businesses focused on revolutionizing packaging and removing single use plastics from the environment.

In other news, we are beginning an update of our strategic plan, a process we know will result in a responsive strategy reflective of today’s post-pandemic business environment.  We are also closely watching LD 416, “An Act to Authorize a General Fund Bond Issue for Research and Development and
Commercialization,” which, if passed, will provide funds for MTI to deploy to Maine businesses for research, development and capitalization as prioritized by the state’s innovation action plan. If passed, MTI will administer a competitive process to deploy the funds in the state’s seven targeted technology sectors.

We continue to make our impact felt throughout Maine.  In March, our MERC program alone received 27 requests (nearly one per day), approved 13 applications, and completed 11 projects. Emily Braley, our MERC coordinator has done an outstanding job of deploying these funds, and highlights more about the program in her blog post.

Finally, we are thrilled to welcome Grace Chen as our newest E-resident; and Colin March as a new board member.

Happy Earth Day.