Worcester Business Journal

10 Worcester Business Journal | April 29, 2024 | wbjournal.com P O W E R 1 0 0 M A N U F A C T U R I N G & T E C H N O L O G Y Aimee Peacock CEO of Flexcon Global Flexcon, in Spencer Employees: 1,000 Residence: Rutland College: University of New Hampshire, Massachusetts Institute of Technology As the first female president in the 68-year history of Flexcon, Peacock is one of the most prominent women leaders in the Central Massachusetts manufacturing space. Once solely focused on making vinyl and polyesters used in the manufacturing of women's shoes and purses, Flexcon has expanded in the decades since its found- ing in 1956 to create a litany of products involving laminated films and adhesives. In her time at Flexcon, Peacock has led the company through an integration and alignment of the company's global obligations. is saw the company align its reporting structures to increase functionality and created a singular brand, helping it leverage the full potential of its worldwide operations. Peacock led the charge to enhance employee experiences and development by increasing the focus on collab- oration and teamwork. Peacock's influence goes beyond Flexcon. In addition to mentoring local college students, she is a board member of the EcoTarium in Worcester, providing the area's youth with an introduction to STEM that may lead them to be future Flexcon employees. Peacock is involved in Girls on the Run Worcester County, a Whitins- ville-based nonprofit striving to improve youth's social, emotional, and physical skills through running and other physical activity. In addition to this work, Peacock is making efforts to ensure the next genera- tion of female leaders has the support and encouragement needed to thrive in the workplace. She's a founding member of Chief in Boston, a private network meant to drive more women into leadership positions and give them the tools to succeed in these roles. - Article by Eric Casey Bob Mumgaard Co-founder & CEO Commonwealth Fusion Systems, in Devens Employees: 650+ Residence: Boston Colleges: Massachusetts Institute of Technology, University of Nebraska. e year 2023 was a big one for CFS. e company doubled in size, to more than 650 employees, moved into its corporate campus in Devens, and was chosen as one of eight companies to receive funding as part of a federal $46-million fusion development program. e $2-billion Devens campus comprises CFS headquarters, a magnet factory, and a building to house SPARC, touted as the world's first commercially viable net-energy fusion device. e headquarters is under construction and expected to be operational in 2025. CFS has drawn a lot of attention. e company hosted 2,500 visitors in 2023 aer opening in February, including federal and state officials, foreign government dignitaries, business leaders, scientists, academics, and investors. As the world races to find clean, renewable energy, Mumgaard envisions CFS and Devens becoming the center of the global fusion industry. Mumgaard co-founded CFS out of MIT in 2018, driven by what he calls one of the world's greatest challenges – the move to carbon-free energy. President Joe Biden has made tackling the climate crisis a priority of his administration. In May, the U.S. Department of Energy announced its Milestone- Based Fusion Development Program, part of an effort to produce a pilot-scale demonstration of fusion energy generation within a decade. e eight companies selected to participate in the $46 billion program, including CFS, will have to achieve certain commercialization milestones to receive funding. "ere is a growing global race for commercial fusion energy, and this DOE program will serve as a clear, data-driven, and transparent way to measure private sector progress and ensure that the U.S. is playing a leading role," Mumgaard said in a press release at the time of the announcement. - N.C. Parth Chakrabarti Executive vice chancellor, innovation & business development UMass Chan Medical School, in Worcester Employees at UMass Chan: 6,729 Residence: Lexington College: Harvard University, Indian School of Business, Indian Institute of Technology At 353 awards totaling $179 million in fiscal 2023, UMass Chan receives more National Institutes of Health funding for medical research than all other Central Massachusetts institutions combined, and that's just a portion of the research fund- ing flowing through the medical school. Leading those innovation and business development efforts for the $1-billion institution is Chakrabarti, who has done so since 2020. Formerly an executive with top biopharmaceutical companies such as Vertex Pharmaceuticals, Sanofi Genzyme, and Johnson & Johnson, Chakrabarti has dedi- cated his life to developing and bringing to market therapies for multiple diseases in the U.S., Europe, and Asia. Managing $322 million in federal and private research grants and contracts in fiscal 2023 at UMass Chan, his formidable experience helps him identify the best opportunities to bring clinical-stage technology to market. Chakrabarti has experience across the biopharmaceutical development spec- trum, from academia to venture capital firms to Fortune 500 companies. Har- nessing that experience has helped him find the best partners to bring to market the work of UMass Chan researchers through its BRIDGE Innovation & Business Development program, the hub of all UMass Chan commercialization efforts. In the last 12 months, Chakrabarti and his team have launched Alys Pharmaceu- ticals, funded by a venture capital firm and with technology licensed by BRIDGE; helped UMass Chan obtain exclusive global rights for groundbreaking gene therapy technology developed at the university to treat vision-related conditions; and signed a $2-million agreement with a South Korean pharmaceutical company to pursue gene therapy for inflammatory diseases. Another $2 million was invested in 13 faculty-led projects potentially leading to more commercialized treatments. – E.M. PHOTO | EDD COTE

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