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W W W. M A I N E B I Z . B I Z 35 BO O K O F L I S T S 2 0 1 9 F I NA N C E Largest Maine Technology Institute investments Ranked by amount received per award, fiscal year 2018 Amount awarded 1 Project title Type of award 2 Sector 1 The Jackson Laboratory Bar Harbor $12,500,000 Next-generation research mouse production facility Maine Technology Asset Fund 2.0 (state bond) Biotechnology 2 Direct Vet Marketing Inc. Portland $9,000,000 Vets First Choice STEM center project Maine Technology Asset Fund 2.0 (state bond) Information technology 3 Pleasant River Lumber Co. Inc. Dover-Foxcroft $4,226,000 Dover-Foxcroft facility expansion Maine Technology Asset Fund 2.0 (state bond) Forestry & agriculture 4 Verso Androscoggin LLC Jay $4,000,000 Androscoggin PM3 relaunch Maine Technology Asset Fund 2.0 (state bond) Forestry & agriculture 5 SmartLam LLC Undisclosed $3,000,000 New cross-laminated timber facility Maine Technology Asset Fund 2.0 (state bond) Composite materials 6 Hussey Seating Co. North Berwick $2,812,500 Hussey innovation project Maine Technology Asset Fund 2.0 (state bond) Information technology 7 C & L Aerospace Holdings LLC Bangor $2,634,500 Hangar and component shop capability increase Maine Technology Asset Fund 2.0 (state bond) Composite materials 8 Ready Seafood Co. Portland $2,250,000 Seafood exports expansion and industry-science collaboration Maine Technology Asset Fund 2.0 (state bond) Aquaculture & marine 9 J. S. McCarthy Co. Inc. Augusta $1,500,000 Innovations in printing press technology Maine Technology Asset Fund 2.0 (state bond) Precision manufacturing 10 Fairchild Semiconductor Corp. South Portland $1,000,000 DSN2 and ONC18EE technology development Maine Technology Asset Fund 2.0 (state bond) Precision manufacturing Sea Bags LLC Portland $1,000,000 Investing to break capacity constraints Maine Technology Asset Fund 2.0 (state bond) Precision manufacturing 12 Bristol Seafood LLC Portland $743,699 Bristol Seafood investment Maine Technology Asset Fund 2.0 (state bond) Aquaculture & marine 13 Tilson Technology Management Inc. Portland $602,738 Process automation 2.0 Maine Technology Asset Fund 2.0 (state bond) Information technology 14 Biddeford Internet Corp. Biddeford $500,000 Deployment of software defined network technology Development Loan Information technology Casco Systems LLC Yarmouth $500,000 Smart grid research & development laboratory expansion Note Information technology Global Secure Shipping Orono $500,000 Matching funds for federal competition Note Composite materials Nikel Precision Group LLC Biddeford $500,000 Scale-up of JETS/FWS Note Precision manufacturing STARC Systems Inc. Brunswick $500,000 Accelerated research & development Note Precision manufacturing 1 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. 2 The Maine Technology Institute invests public funds in Maine entrepreneurs and companies who engage technology to develop innovative products and services within the state's seven targeted technology sectors. Grants, loans and equity investments are issued on a competitive basis and require a minimum of one-to-one private sector match. The goals are high-paying jobs, development of intellectual property and business growth, which in turn provide tax revenue for the state. MTI's Equity Capital program supports its grant and loan recipients as they advance their company to full commercialization and complements meaningful outside investment needed to carry the company to its next stage. The Development Award Program offers loans of up to $500,000 to support research and development of new products, processes or services leading to commercialization. MTI's Cluster Initiative Program (CIP) supports collaborative efforts in Maine's high-potential technology clusters that help spread knowledge and skills, build connections among businesses, connect businesses to research and service partners, and address common opportunities and challenges, leading to more vibrant economic growth and innovation This list was compiled by Stephanie R. Meagher and published in the Sept. 3, 2018 issue of Mainebiz. SOURCE: Maine Technology Institute Largest Maine Technology Institute investments Ranked by amount received per award, fiscal year 2018 1 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. 2 The Maine Technology Institute invests public funds in Maine entrepreneurs and companies who engage technology to develop innovative products and services within the state's seven targeted technology sectors. Grants, loans and equity investments are issued on a competitive basis and require a minimum of one-to-one private sector match. The goals are high-paying jobs, development of intellectual property and business growth, which in turn provide tax revenue for the state. This list was compiled by Stephanie R. Meagher and published in the Sept. 3, 2018 issue of Mainebiz. N O T E : MTI's Equity Capital program supports its grant and loan recipients as they advance their company to full commercialization and complements meaningful outside investment needed to carry the company to its next stage. The Development Award Program offers loans of up to $500,000 to support research and development of new products, processes or services leading to commercialization. MTI's Cluster Initiative Program (CIP) supports collaborative efforts in Maine's high-potential technology clusters that help spread knowledge and skills, build connections among businesses, connect businesses to research and service partners, and address common opportunities and challenges, leading to more vibrant economic growth and innovation S O U R C E : Maine Technology Institute Amount awarded 1