(From centralmaine.com) MTI portfolio company, Atlantic Sea Farms hopes to raise $3.5 million for production upgrades one year after opening a new processing facility in Biddeford. The seaweed company is also backed by American celebrity chef, Tom Colicchio. Read more »
(From Maine Startups Insider) Cybersecurity software startup, Defendify, recently closed a $3.35 million funding round to help accelerate go-to-market strategies, product development, and team expansion. MTI is an investor in the Portland-based company. Read more »
(From 101.9therock.com) Governor Janet Mills recently announced $14M in grant funding for Maine forestry companies from the second round of the Forest Recovery Initiative (FRI-2) of the Maine Jobs & Recovery Plan. MTI will administer the program which will provide grants ranging from $250,000 to $2,000,000 to help bolster the state's forestry industry. Read more »
(From Mainebiz) Brunswick-based, buShift Aerospace is entering a phase of rapid engine testing to optimize the performance, thrust and efficiency of MAREVL, its carbon-neutral, biofuel powered rocket engine. The company has also opened a new equity crowdfunding campaign. bluShift plans to create over 50 aerospace jobs in the next 5 years and bring revenue into Maine. MTI has provided ongoing support to the company. Read more »
(From Mainebiz) MTI portfolio company, Twin Rivers Paper Co. recently procured $100M to refinance debt and provide working capital. The integrated paper company produces paper for packaging, publishing, technical specialties, and more. It also produces dimensional lumber. Over 1,400 people in two countries and seven communities are employed by the business. Read more »
(From Portland Press Herald) The Gulf of Maine Research Institute has been awarded nearly $1.3M in federal funding for two initiatives aimed at climate-resiliency and innovation in the seafood industry and other ocean-related enterprises. MTI has been a direct supporter of the Portland-based company. Read more »
(From Mainebiz) RockStep Solutions recently closed a $5.3M Series A equity financing round to further its growth. The Portland-based software developer has an international reach, and currently employs 23 people with plans to add 20 more positions in the coming months. MTI was an early investor in the company. Read more »
(From Bangor Daily News) Eight years after she first started growing eels in her basement, Sara Rademaker is about to open the country’s first eel aquaculture production facility. American Unagi has received national attention and adds value to Maine’s $20M annual baby eel fishery. The company's growth and success has been made possible in part by MTI. Read more »
(From Portland Press Herald) Vertical Harvest Maine is under construction in Westbrook. This four-story urban hydroponic farm is designed to employ dozens of workers with intellectual disabilities and produce millions of pounds of microgreens for the area. MTI is an ongoing supporter of the project. Read more »
(From Bangor Daily News) MTI portfolio company, Bookclubs, has raised more than $1 million to add features to its website. The Camden-based business helps readers find other people with similar interests and guides them on how to form and sustain a club either virtually or in person. Read more »