Issue link: https://nebusinessmedia.uberflip.com/i/1539113
V O L . X X X I N O. X X S E P T E M B E R 8 , 2 0 2 5 26 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 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 M E A G H E R PR ES ENTI NG S PONS OR R EGI ONAL S PONS OR W E D N E S D AY, S E P T E M B E R 2 4 / 4 : 0 0 – 6 : 0 0 P M / M A I N E M A R I T I M E M U S E U M BATH HORS D'OEUVRES / CASH BAR / NETWORKING WITH AREA BUSINESS EXECUTIVES S PACE IS S PACE IS L IMITED L IMITED, BE S URE TO , BE S URE TO R EG IS TER! R EG IS TER! Please register ahead at www.mainebiz.biz/OTRBath25 1 The Maine Technology Institute invests public funds in Maine entrepreneurs and organiza- tions 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. 3 Hybrid award consisting of $250K loan & $100K grant 4 Hybrid award consisting of $150K loan & $100K equity investment 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, 2025 2 Maine Technology Institute investments 1 Ranked by amount received per award, 2025 2 Recipient/ county Amount awarded Project title Type of award Sector 1 North Spore LLC Cumberland $ 750,000 Making mushroom cultivation mainstream Equity Forest products & agriculture 2 Maine Space Corp. Cumberland $ 426,413 Maine's space knowledge cluster in space applications Grant Composite materials 3 Biofine Developments Northeast Inc. Hancock $ 400,000 Lincoln Biorefinery financing package development Loan Environmental technology 4 Even Keel Inc. Sagadahoc $ 350,000 Building system product launch Loan & grant 3 Precision manufacturing 5 ALM Ortho Inc. Sagadahoc $ 280,000 Innovation in osseointegration Loan Biotechnology 6 CourseStorm Inc. Penobscot $ 250,000 Upmarket and AI product development Loan & equity 4 Information technology 6 Reconnect Inc. Cumberland $ 250,000 Platform feature advancements Loan & equity 4 Information technology 8 EarthShift Global LLC York $ 150,000 Impact modeling software for the life cycle assessment space Loan Environmental technology 8 UniteGPS LLC Cumberland $ 150,000 AI-powered bus routing to transform student transportation Loan Information technology 10 Bookclubz Inc. Knox $ 100,000 Product development and subscription growth strategy Loan Information technology 10 IRON Digital Inc. Cumberland $ 100,000 IRON application Grant Information technology 10 Maine Ocean Farms LLC Cumberland $ 100,000 Maine oyster farm electric workboat pilot project Grant Aquaculture & marine 10 Maine Small Business Development Center Cumberland $ 100,000 Memoranda of understanding (MOU's, FY 2025) Grant Economic development 10 MM Platform Co. Knox $ 100,000 Roamr: accelerating a new economy of movement Grant Environmental technology 10 Oceanfarmr USA Inc. Cumberland $ 100,000 Systemizing aquaculture farm operations for optimization and scale Grant Aquaculture & marine 10 RockStep Solutions Inc. Hancock $ 100,000 Expedited funding request Equity Information technology 10 SBD Technologies Inc. Cumberland $ 100,000 Product launch Grant Information technology SOURCE: Maine Technology Institute 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. 3 Hybrid award consisting of $250K loan & $100K grant 4 Hybrid award consisting of $150K loan & $100K equity investment - This list was compiled by Stephanie R. Meagher and published in the Sept. 8, 2025, issue of Mainebiz.