(From Mainebiz) Ocean Renewable Power Company (ORPC) develops renewable power systems that convert a river's kinetic energy into electricity. ORPC has a number of goals for 2023, including introducing new products to the market and deploying a Modular RivGen® Power System in Millinocket. MTI has been a consistent funder and supporter of the Portland-based company since its inception. Read more »
(From The Lincoln County News) Singing Pastures was recently awarded $215,000 through the federal Value-Added Producer Grant Program which helps rural businesses expand processing, marketing, and sales for value-added products. In addition, the US Small Business Administration named the Newcastle farm “Maine Micro-Enterprise of the Year.” MTI provided Singing Pastures with funding for important market research. Read more »
(From Mainebiz) MedRhythms is a digital health startup that uses sensors, software and music to help restore nervous system function and walking ability. The company recently completed a study which revealed music could enhance the quality of life for Parkinson’s patients. MTI played a significant role in the growth and development of the Portland-based company. Read more »
(From PR Newswire) Running Tide Technologies and Microsoft recently signed a 2-year agreement to remove the equivalent of 12,000 tons of carbon dioxide (C02e) using breakthrough technology. Running Tide's operations and carbon-negative industrial hubs offer cascading benefits for coastal communities and ecosystems, supply chains, and global ocean health. MTI provided the Portland-based company with early-stage funding and SBIR support. Read more »
(From Mainebiz) Good To-Go makes gourmet dehydrated meals for outdoor enthusiasts. The company recently closed on a Series A round of $1M which enabled it to scale its facility and support ongoing growth. The Kittery-based business is currently doing market research and expects to hire additional employees in the coming months. MTI is an investor in the innovative company. Read more »
(From Mainebiz) Maine Cap N’ Stem grows substrates and other supplies for mushroom farms nationwide. The Gardiner-based business has plans to expand to a 75,000-square-foot space in Lewiston. MTI provided funding and support to the company for the development of innovative technologies designed to grow the business and bolster the agriculture sector as a whole. Read more »
(From WMTW) Marin Skincare recently announced their Soothing Hydration Cream is now available to customers at L.L. Bean. Since launching, the company has seen 400% growth year over year, hitting seven figures in sales. MTI provided the startup with initial funding and support. Read more »
(From Mainebiz) Alakazam developed technology which creates virtual worlds, avatars, spatial audio and event environments. MTI's President, Brian Whitney, remarked that the company has potential to "be a marvelous success story for our state." MTI is an investor in the Portland-based startup. Read more »
(From Bangor Daily News) MTI portfolio company, Nyle Systems will receive $6M from an environmental investment firm to open a new factory in Bangor, producing heat pump water heaters. The expansion is expected to bring approximately 200 new jobs to the region. Read more »
(From Composites World) Compotech Inc. has been recognized as one of the top 12 Composites shops in the world based on benchmark production and operations metrics. President of the Brewer-based business, Paul Melrose stated, “We could not have accomplished this impressive achievement without the strong support we received from the MTI team.” Congratulations! Read more »