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V O L . X X V I I I N O. X I X S E P T E M B E R 5 , 2 0 2 2 30 T H E L I S T REGISTER NOW: 2022-MDF-ANNUAL-MEETING 9a.m. – 1p.m. Innovation Hall UNE Campus 772 Stevens Avenue Portland Be inspired by our 2022 Champions of Economic Development Award Winners 2022 Champion of Education and Workforce Development 2022 Champion of Rural Development 2022 Kenneth M. Curtis Leadership Award (Leadership Maine) 2022 ICL Distinguished Alum Award 2022 William F. King, Jr., Downtown Champion September 23, 2022 Strength in Community GREENTREEEVENTS.REGFOX.COM/ 1 The Maine Technology Institute invests public funds in Maine entrepreneurs and organizations who engage technology to develop innovative products and services with 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. 2 MTI awards are disbursed in tranches based upon certain project milestones being achieved. The award amounts may not reflect actual disbursements. S O U R C E : Maine Technology Institute C O M P I L E D B Y S T E P H A N I E R . M E A G H E R C O M P I L E D B Y S T E P H A N I E R . M E A G H E R Purchase this list and more as an Excel document at mainebiz.biz/DataCenter @ Maine Technology Institute investments 1 Ranked by amount received per award, 2022 2 Maine T echnolog y Institute in vestments 1 Rank ed b y amount r ecei v ed per a w ar d, 2022 2 Recipient Amount a w arded Project title T ype of a w ard Sector 1 The Roux Institute at Northeastern University Cumber land $ 1,000,000 BioConnects Ne w England Loan Infor mation technolog y 2 University of Maine P enobscot $ 500,000 Accelerating the nor ther n forest bioeconom y Loan F orest products & agriculture 3 Maine Space Grant Consortium K enebec $ 283,749 Maine Space Complex business de velopment and recr uitment Grant All se ven sector s 4 Farmhand Automation Inc. Cumber land $ 250,000 Autonomous electric ro ver for automated carbon free far ming Grant En vironmental technolog y 4 Peregrine Turbine Technologies LLC Lincoln $ 250,000 No vel non-batter y storage technolog y for dispatchable rene w able pow er Grant En vironmental technolog y 4 Vertical Harvest Maine L3C Cumber land $ 250,000 N/A Loan F orest products & agriculture 7 Good To-Go LLC Y or k $ 200,000 F acility expansion Equity F orest products & agriculture 8 40GRID Inc. Cumber land $ 150,000 Mar k et launch Loan Infor mation technolog y 8 Defendify Inc. Cumber land $ 150,000 SaaS cyber security platfor m Equity Infor mation technolog y 8 Pumpspotting Inc. Y or k $ 150,000 B2B product to k eep women in the wor kforce Loan Infor mation technolog y 8 Soul Being LP Cumber land $ 150,000 Accelerated expansion Loan Infor mation technolog y 12 Pencilwrench LLC Cumber land $ 148,249 Usage drive Loan Infor mation technolog y SOURCE: Maine T echnolog y Institute 1 The Maine T echnolog y Institute in vests public funds in Maine entrepreneur s and organizations who engage technolog y to de velop inno vative products and ser vices with the state's se ven targeted technolog y sector s. Grants, loans and equity in vestments are issued on a competitive basis and require a minimum of one-to-one private sector match. The goals are high-pa ying jobs, de velopment of intellectual proper ty and business growth, which in tur n pro vide tax re venue for the state. 2 MTI a w ards are disbur sed in tranches based upon cer tain project milestones being achie ved. The a w ard amounts ma sements. - This list w as compiled b y Stephanie R. Meagher and pre viously unpublished in Mainebiz.