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V O L . X X I X N O. V ยง 2 M A R C H 6 , 2 0 2 3 30 T H E L I S T 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 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. N O T E : N/A = Not available S O U R C E : Maine Technology Institute @ 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 1 Maine Technology Institute investments 1 Ranked by amount received per award, 2022 2 Recipient Amount awarded Project title Type of award Sector 1 The Roux Institute at Northeastern University Cumberland $ 1,000,000 BioConnects New England Loan Information technology 2 University of Maine Penobscot $ 500,000 Accelerating the northern forest bioeconomy Loan Forest products & agriculture 3 Maine Space Grant Consortium Kenebec $ 283,749 Maine Space Complex business development and recruitment Grant All seven sectors 4 Farmhand Automation Inc. Cumberland $ 250,000 Autonomous electric rover for automated carbon free farming Grant Environmental technology 4 Peregrine Turbine Technologies LLC Lincoln $ 250,000 Novel non-battery storage technology for dispatchable renewable power Grant Environmental technology 4 Vertical Harvest Maine L3C Cumberland $ 250,000 N/A Loan Forest products & agriculture 7 Good To-Go LLC York $ 200,000 Facility expansion Equity Forest products & agriculture 8 40GRID Inc. Cumberland $ 150,000 Market launch Loan Information technology 8 Defendify Inc. Cumberland $ 150,000 SaaS cybersecurity platform Equity Information technology 8 Pumpspotting Inc. York $ 150,000 B2B product to keep women in the workforce Loan Information technology 8 Soul Being LP Cumberland $ 150,000 Accelerated expansion Loan Information technology 12 Pencilwrench LLC Cumberland $ 148,249 Usage drive Loan Information technology 13 40GRID Inc. Cumberland $ 100,000 Market launch Grant Information technology 13 Community Shellfish Co. LLC Lincoln $ 100,000 Merroir: taste of Maine's seafood Grant Aquaculture & marine 13 LaCasse & Weston Inc. Cumberland $ 100,000 LT series 1824 former Grant Environmental technology 13 Louisiana-Pacific Corp. Aroostook $ 100,000 LP Houlton SmartSide siding conversion Grant Forest products & agriculture 13 Nichols Portland LLC Cumberland $ 100,000 Evaluation of sintered powdered metal helical gears Grant Precision manufacturing 13 Peaks Renewables Inc. Kennebec $ 100,000 Anaerobic digestion facility Grant Environmental technology 13 Pencilwrench LLC Cumberland $ 100,000 Usage drive Grant Information technology 13 Soul Being LP Scarborough $ 100,000 Accelerated expansion Grant Information technology 13 Tilson Technology Management Inc. Cumberland $ 100,000 ITSM API platform Grant Information technology SOURCE: Maine Technology Institute Note: N/A = Not available 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. - This list was compiled by Stephanie R. Meagher and previously published in the Sept. 5, 2022 issue of Mainebiz.