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V O L . X X V I I N O. X X V I I I 38 BO O K O F L I S T S 2 0 2 2 F I NA N C E Largest Maine Technology Institute investments Ranked by amount received per award, fiscal year 2021 This list was compiled by Timothy Doyle and was published in the Sept. 6, 2021 edition of Mainebiz. N O T E S : MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. The Maine Technology Institute invests public funds in Maine entrepreneurs and organizations 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. S O U R C E : Maine Technology Institute Largest Maine Technology Institute investments Ranked by amount received per award, fiscal year 2021 Amount awarded Project title Type of award Sector 1 The Roux Institute at Northeastern University Portland $750,000 Roux Institute venture creation & acceleration platform Grant Biotechnology 2 ImmuCell Corp. Portland $400,000 First Defense capacity expansion and Re-Tain FDA approval and launch Loan Biotechnology Standard Biocarbon Corp. East Millinocket $400,000 Standard Biocarbon East Millinocket plant Loan Biotechnology 4 Eastport Port Authority Eastport $307,500 Shipboard phytosanitation system to capture European export opportunities MTAF2.5 Grant Aquaculture & Marine STARC Systems Inc. Brunswick $307,500 Becoming the leader in infection isolation containment MTAF2.5 Grant Precision Manufacturing 6 ATX Advisory LLC Biddeford $300,000 Caliper - business analytics as a service Loan Aquaculture & Marine bluShift Aerospace, Inc. Brunswick $300,000 Development of Starless Rogue - the first sub-orbital space launch vehicle powered by biofuel Loan Composite Materials Gulf of Maine Research Institute Portland $300,000 GRMI Ventures EDA build to scale Application: matching funds required Loan Aquaculture & Marine Springworks Farm Maine, Inc. Lisbon $300,000 Springworks greenhouse development MTAF2.5 Grant Forestry & Agriculture Twin Rivers Paper Co. LLC Madawaska $300,000 Modernization of Paper Mill 7 MTAF2.5 Grant Forestry & Agriculture 11 Acadian Composite Materials, Inc. Portland $280,000 Fabricating sustainable structural insulated panels (SIPs) from recycled polyethylene terephthalate (PET) from single- use beverage bottles in Aroostook County Bond/ Grant Composite Materials 12 American Unagi LLC Thomaston $175,000 Expanding value-added capabilities MTAF2.5 Grant Aquaculture & Marine Junora LTD Biddeford $175,000 Junora round B funding opportunity Convertible Note Precision Manufacturing 14 North Spore LLC Portland $164,480 Increasing capacity by expanding North Shore's laboratory infrastructure MTAF2.5 grant Forestry & agriculture 15 Maine Shellfish Technologies Scarborough $157,000 Automatic deshelling machine Loan Aquaculture & marine 16 Gulf of Maine Research Institute Portland $150,000 Gulf of Maine Ventures (ocean business accelerator) Grant Aquaculture & marine Reconnect Inc. Cumberland $150,000 Scaling and to build foundation for largest customer Loan Information technology 18 Maine Space Grant Consortium Augusta $148,489 Development of strategic, business, financial and investment plans for the Maine SpacePort Complex Grant Aquaculture & marine Notes: MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. The Maine Technology Institute invests public funds in Maine entrepreneurs and organizations 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 Timothy Doyle and was published in the Sept. 6, 2021 edition of Mainebiz. SOURCE: Maine Technology Institute

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