KIZ Board Member, ProTecs Moves to New Location
As of June 27, 2011, KIZ Board Member, ProTecs has relocated to their new offices in Plymouth Meeting. Please note the change in address below.
ProTecs
Campus Drive Industrial Park
5110 Campus Drive, Suite 110
Plymouth Meeting, PA 19462
877-941-1001 toll free
610-941-1001 phone
610-941-0110 fax
FDA Approves Fibrocell’s laViv
FDA Approves Fibrocell’s laViv
Chester County KIZ Company, Fibrocell Science Inc. was featured in the Business section of the Daily Local News Thursday as they recieved Food and Drug Administration approval for their new wrinkle treatment technology called laViv. laViv’s revolutionary technology uses a patient’s own collagen-making cells to help treat nasolabial fold wrinkles and restore appearance over time.
Visit the Daily Local News website to view a complete article on Fibrocell and laViv.
CCKIZ Board Profiles
Chester County Keystone Innovation Zone
Partner Profiles
To learn more about the Chester County Keystone Innovation Zone (CCKIZ) program,
to see if your company qualifies as a KIZ company or for an introduction to any of the CCKIZ,
visit www.cckiz.org or contact Mary Fuchs, Project Director, Chester County KIZ
(610-458-5700 x308, mfuchs@cceconomicdevelopment.com)
The award-winning Ben Franklin Technology Partners is one of the nation’s longest-running technology-based economic development programs. For more than 25 years, BFTP has provided both early-stage and established companies with funding, business and technical expertise and access to a network of innovative, expert resources. Ben Franklin Technology Partners’ goal is to accelerate technology development and commercialization in the State of Pennsylvania, and to create high-paying, sustainable jobs for Pennsylvanians. www.sep.benfranklin.org
ByTheZip.com is a Chester County Keystone Innovation Zone company that offers local and regional businesses a complete advertising toolbox for marketing to local customers who research and find businesses online. By using ByTheZip.com’s step-by-step methods for success, businesses can see growth almost immediately. The results are more income and greater customer loyalty. www.bythezip.com
Chester County Economic Development Council (CCEDC) is a private, non-profit economic development organization that has been nurturing economic growth in Chester County and the surrounding region for more than 50 years. The Council’s portfolio of business growth services includes: low-interest financing including SBA and USDA loan programs, business attraction, retention and expansion, workforce development and training, energy consulting, customized international business assistance, land and building site selection, brownfields consultation and remediation, urban redevelopment, and agricultural economic development. The Council also offers economic development services specifically designed for local municipalities and state-of-the art conference and training facilities at its facility in Eagleview. www.cceconomicdevelopment.com
CresaPartners – The Tenant’s Advantage – offers an array of integrated services, developed and implemented to give clients the full advantage of our advisors’ expertise, discipline, and judgment. Since the founding of our firm, the primary focus of CresaPartners has been to serve the best interests of tenants. By representing tenants, not landlords, we ensure objectivity and avoid conflicts of interest. Unlike traditional real estate firms, we are service oriented, not transaction oriented. We provide an array of integrated corporate services and work to align your real estate needs with your business plans. Our advisors and project managers form partnerships with our clients, providing ongoing service that goes “beyond the deal.” www.cresapartners.com
Founded in 1891 in Philadelphia, Drexel is a top-ranked, comprehensive university recognized for its focus on experiential learning through co-operative education, its commitment to cutting-edge academic technology and its growing enterprise of use-inspired research. As Philadelphia’s leader in curricular innovation and educational technology, Drexel has a history of integrating the latest technological advances into the learning process. Drexel University’s mission is to serve our students and society through comprehensive integrated academic offerings enhanced by technology, co-operative education, and clinical practice in an urban setting, with global outreach embracing research, scholarly activities, and community initiatives. www.drexel.edu
Elko & Associates concentrates on serving privately held, emerging and middle market companies. Our traditional accounting and tax services include audit and accounting, tax, consulting, fraud and forensic accounting, business valuation, business succession and financial planning services. Our technology group serves a number of companies including software, hardware, communications, life sciences, clean tech and technology services. We are knowledgeable in and are ready to assist you with, revenue recognition, asset capitalization, internal controls, tax credit programs, financing, capitalization, stock based compensation, state and local tax, international tax, mergers & acquisitions, as well as outsourced accounting. www.elkocpa.com
Evolve IP is a Communications as a Service (CaaS) provider that has created a new way for businesses to buy, manage, and secure the technologies that they use to communicate. Our unique approach represents an unequaled option in the market for companies to turn their vital communications technologies into a competitive advantage. With a broad range of expertise in the areas of Managed Telephony, Hosted Applications, Managed Networks, and Security & Compliance, Evolve IP can partner with businesses of all sizes to provide a complete outsourced solution or an augmentation of a current infrastructure. www.evolveip.net
We are a law firm built to serve business leaders. They come to us for guidance because we understand their issues, their priorities, and the way they think. Our job is to help our clients manage risk and make better business decisions by offering practical, innovative advice. Probably the best compliment we receive from clients is that we treat their issues and their businesses as if they are our own. We deliver a full range of legal services — from the traditional (Litigation, Corporate, Labor and Employment) to the emerging services (Intellectual Property and Tech and Venture Finance). Fox Rothschild brings expertise in early and growth stage technology, life science and clean tech companies to the CCKIZ board. www.foxrothschild.com
Franklin Commons is a mixed-use educational, corporate and recreation facility. This adaptive reuse of a former mill and manufacturing site in north Phoenixville offers classroom, office and even recreational space that can be custom-designed and built-to-suit. With 225,000 square feet, 200,000 of which is on one floor, the space is ideal for educational providers to configure and renovate to meet the growing demand for lifelong education. For corporate, recreational or office space needs, the flexible open floor plans and first-class common areas make the Franklin Commons a perfect choice. www.franklincommons.net
Kreischer Miller is one of the largest full-service public accounting and advisory firms in the greater Philadelphia region, with significant experience advising clients ranging from startups to divisions of fortune 100 firms. Kreischer Miller places a great deal of emphasis on having our senior team members accessible to our clients, and recognizes that technical expertise and responsiveness are critical to building long-term professional relationships. Additionally, Kreischer Miller is one of the few firms in the Philadelphia area that offers clients truly an interdisciplinary portfolio of services combining expertise in accounting, tax, business advisory, technology and human resources. www.kmco.com
Liberty Property Trust is a $6.5 billion real estate investment trust (as of March 31, 2011) which owns 79.6 million square feet of office and industrial space in over 20 markets throughout the United States and the United Kingdom. Founded in 1972 and headquartered outside Philadelphia, Liberty develops, acquires, leases and manages properties with the mission to enhance people’s lives through extraordinary work environments. As an extension of this promise, Liberty is the nation’s leading commercial developer of high-performance green buildings. Liberty’s more than 730 office buildings and industrial properties offer exceptional locations, flexible design, thoughtful amenities, cost efficient operations and state-of-the-art technology to the company’s 2,500 tenants. Liberty continuously increases the value of its portfolio through expert management, marketing and development. www.libertyproperty.com
MVM Associates, Inc’s business model incorporates the selling of tradable Pennsylvania Tax Credits – Keystone Innovation Zone (KIZ), Research and Development (R&D), Film, Neighborhood Assistance Program (NAP) and Enterprise Zone (EZ) – and obtaining buyers for those credits. With over 25 years of combined experience in providing and educating hundreds of clients about various state incentives and programs, MVM has been able to provide businesses with opportunities to expand their products or services and increase business growth by working together with us to evaluate the various state programs that best match their company’s need. MVM provides professional service and exceptional follow through producing end results with successful outcomes and awards. www.mvmgrants.com
ParenteBeard is one of the Mid-Atlantic region’s premier CPA and business advisory firms. Our Emerging Growth Business Services Practice caters to entrepreneurs in the business internet, mobile technology, life sciences and cleantech fields. We offer seasoned professionals and a customized approach to guide you through every stage of your life cycle, leveraging our centers of excellence in accounting, audit, domestic and international tax, and transaction advisory services. Whatever your needs are, we have the talent and resources that a firm of our size and commitment to emerging growth companies can provide. We keep it simple, get it right and deliver on time. www.parentebeard.com
PECO, an energy delivery subsidiary of Exelon Corporation, is headquartered in Philadelphia. PECO is the largest electric and natural gas utility in Pennsylvania, serving approximately 1.6 million electric customers and 490,000 natural gas customers in southeastern Pennsylvania. Approximately 90% of PECO’s customers are residential and the remaining 10% are commercial and industrial. With a history of more than 100 years of service to the Greater Philadelphia region, PECO has a long-standing commitment to a culture of excellence. PECO’s safety performance is ranked among utilities as one of the best in the nation and the company has been widely recognized for its community service, economic development and operational and environmental efforts. www.peco.com
Penn State Great Valley School of Graduate Professional Studies extends the resources and reputation of one of the nation’s leading research universities to suburban Philadelphia. Penn State Great Valley delivers outstanding graduate degree programs, professional development courses, and conference planning services. Forty-four full-time and sixty-nine part-time faculty members teach valuable practical skills, share cutting-edge knowledge, and work with corporate, government, and educational neighbors to address real-world problems and enhance employee performance. www.sgps.psu.edu
Pennsylvania Bio’s message is to ensure Pennsylvania is the global leader in the biosciences by creating a cohesive community that united our biotechnology, medical devide, diagnostic, pharmaceutical, research, and financial strengths. www.pennsylvaniabio.org
Progenra, Inc. is dedicated to finding new medicines for a variety of diseases through the ubiquitin pathway, a critical mechanism of cellular regulation. Progenra’s assay platform and unique profiling capacity can identify selective inhibitors of critical ubiquitin pathway enzymes associated with cancer, osteoporosis, and other debilitating diseases. This technology and multiple selective compounds are available for licensing. www.progenra.com
ProTecs is a technology based service company providing program management, construction management and designing and building services to emerging and midsize companies in the regulated High‐Tech industries. These industries include pharmaceuticals, biotechnology, semiconductor, specialty chemical, petroleum, photovoltaic, mission critical/data centers and contract service organizations. ProTecs provides creative, value‐driven approaches and entrepreneurial solutions to help our clients bring their products and services to market in the most cost effective and timely manner, while meeting their financial, process, compliance, and safety goals. www.protecsinc.com
Silicon Valley Bank is the premier commercial bank for companies in the technology, life science, venture capital, private equity and premium wine industries. SVB provides a comprehensive suite of financing solutions, treasury management, corporate investment and international banking services to their clients worldwide. Through their focus on specialized markets and extensive knowledge of the people and business issues driving them, Silicon Valley Bank provides a level of service and partnership that measurably impacts their clients’ success. Founded in 1983 and headquartered in Santa Clara, Calif., the company serves clients around the world through 26 U.S. offices and international operations in China, India, Israel and the United Kingdom. Silicon Valley Bank is a member of global financial services firm SVB Financial Group (Nasdaq: SIVB), with SVB Analytics, SVB Capital, SVB Global and SVB Private Client Services. www.svb.com
West Chester University, a member of the Pennsylvania State System of Higher Education, is a public, regional, comprehensive institution committed to providing access and offering high-quality undergraduate education, select post-baccalaureate and graduate programs, and a variety of educational and cultural resources for its students, alumni, and citizens of southeastern Pennsylvania. The Dr. Edwin Cottrell Entrepreneurial Leadership Center (ELC), a center of the College of Business and Public Affairs at West Chester University of Pennsylvania, serves as a catalyst for regional economic development by promoting entrepreneurship at West Chester University, in Chester County, and throughout Southeastern Pennsylvania. www.wcupa.edu or http://cottrellcenter.org
Evolve IP Technology Assistance Grant
Evolve IP is offering eligible KIZ Companies a Technology Assistance Grant to help with the progress of business productivity.
For more information please refer to the attached flyer from Evolve IP.
DINNIMAN ANNOUNCES TAX CREDITS FOR LOCAL LIFE SCIENCE FIRMS
WEST CHESTER (December 15) – State Senator Andy Dinniman said seven cutting-edge Chester County life science firms have been awarded a total of nearly $600,000 in tax credits from the state program that assists companies with great growth and job-creation potential.
Pennsylvania’s Department of Community and Economic Development on Wednesday announced Keystone Innovation Zone tax credits for the following firms:
- Alliance Pharma, Inc., will receive $100,000 in KIZ tax credits. Alliance Pharma, of Malvern, was founded in 2007 and provides life-science research for its clients.
- Frontage Laboratories, Inc., will receive $100,000 in KIZ tax credits. Frontage Laboratories, of Exton, was founded in 2001 and provides pharmaceutical research and development services.
- Molecular Targeting Technologies, Inc., will receive $100,000 in KIZ tax credits. Molecular Targeting Technologies, of West Goshen, began in 2001. It is a biotechnology company specializing in the molecular imaging of diseases.
- Neuronetics will receive $100,000 in KIZ tax credits. Neuronetics, of Malvern, incorporated in 2003. It is a medical device company that develops non-invasive therapies for psychiatric and neurological disorders.
- Progenra will receive $69,473 in KIZ tax credits. Progenra, of Malvern, was founded in 2002. It develops new medicines for diseases including cancer and osteoporosis.
- Shifa Biomedical will receive $100,000 in KIZ tax credits. Shifa Biomedical, of Malvern, started in 2005. It is a biopharmaceutical company that develops drugs for prostate cancer and cardiovascular disease.
- Y-Prime will receive $24,247 in KIZ tax credits. Y-Prime, of Malvern, started in 2006. It is a pharmaceutical consulting business.
“These young, start-up companies already offer highly skilled, good-paying jobs and are a vital part of Chester County’s economy,” said Dinniman. “Just as importantly, some of today’s up-and-comers will become tomorrow’s industry leaders and provide county residents with vital economic opportunities in this increasingly competitive job market.”
“The Keystone Innovation Zone program helps ensure that promising, young companies with tremendous growth potential set their roots right here in Pennsylvania rather than someplace else.It’s good to see Chester County taking full advantage of this important economic development tool,” Dinniman said.
For more details, contact Martin Indars in Senator Dinniman’s office at 1-610-692-2112 or at mindars@pasenate.com.
MOMENTUM DYNAMICS WINS $95,000 GRANT FROM CA ENERGY COMMISSION FOR WIRELESS ELECTRIC VEHICLE RECHARGING SYSTEM
Monies to be used for field testing of ground and vehicle components
Malvern, PA—Momentum Dynamics Corporation, a clean tech company, announces that it has been awarded a grant valued at $95,000 from the CA Energy Commission, Energy Innovations Small Grant Transportation Program. The grant will pay for the prototype ground and vehicle components that will be installed in a rental car courtesy minibus in a beta test program at Los Angeles International (LAX) airport.
Momentum Dynamics (www.MomentumDynamics.com) is developing a unique and proprietary technology system that will permit electrically powered vehicles to be recharged without the use of a wire. Andy Daga, CEO and Principal Founder, commented, “Every major automaker is committed to bringing electric vehicles to market and commercial and fleet vehicle owners as well as passenger vehicle owners will profit greatly from the change from gasoline to electric. Momentum Dynamics aims to capture a significant portion of the emerging market for the charging technology that will be required to power these electric vehicles.”
The company’s technology consists of an integrated suite of hardware and software that can be operated with any type of vehicle. It does not require a conductor to connect the vehicle to the power grid. Mr. Daga added, “It is far more convenient and safer than plug‐in chargers and can be operated in any weather and without supervision so that charging is automatic. We are talking to rental car agencies in California and of course would welcome the opportunity to work with an airport rental car agency here in Philadelphia as well.”
Scott Anderson, author of the blog TheGreenSkeptic.com, is head of VerdeStrategy, a consulting and advisory firm focused on the clean tech, energy and environment sectors. He commented, “Momentum Dynamics is on the leading edge of electric vehicle recharging. Imagine a day when recharging an EV is as easy and available as E‐ZPass. Momentum Dynamics is helping to make that day a reality.”
Most of the world’s automakers, as well as commercial‐duty vehicle manufacturers, are on the verge of mass‐marketing electric vehicles. Battery Electric (BEV) and Plug‐in Hybrid (PHEV) vehicles promise remarkably lower operating costs, a quieter ride, and reduced emissions (no emissions from BEVs). According to Pike Research, the number of electric automobiles sold around the world will exceed 3 million by 2015. However, the fastest adoption of electric vehicles may be in the commercial market space where operators of large continuous‐duty vehicles are looking at the prospect of dramatically reduced fuel costs.
Governor Rendell Says Latest Investments in Alternative Fuels Making PA More Energy Independent, Spurring Innovation
Nov. 16, 2010
Announces Nearly $8 Million for 21 Projects Promoting Biofuels, Natural Gas- and Electric-Powered Vehicles
Harrisburg – Governor Edward G. Rendell said today that Pennsylvania is cutting its appetite for foreign oil by more than a half-million gallons as it invests in 21 alternative fuel projects that will also create 221 jobs and cut carbon dioxide emissions by 14.5 million pounds.
The Governor said the $7.9 million he announced today through the Alternative Fuel Incentive Grant Program will spur innovation in Pennsylvania‘s advanced energy economy, while also making it easier for consumers and businesses to use home-grown biofuels and rapidly expanding technologies such as hybrid and electric plug-in vehicles, as well as those powered by natural gas.
Governor Rendell explained that this latest round of investments—which are being matched by another $22.1 million in private funds for a total economic impact of $30 million—further strengthens Pennsylvania‘s reputation as a leading state for clean energy innovation and use.
―Two weeks ago, the Natural Resources Defense Council named Pennsylvania as the 7th least vulnerable state in the nation to oil price spikes because of our work to build a green economy here,‖ said the Governor. ―In doing so, it noted ‗America’s addiction to oil continues to threaten not only our national security and global environmental health, but also our economic viability.‘
―That’s a very accurate assessment and it’s what we’ve been saying for the past eight years, which is why we‘ve worked so hard to create a green energy economy here. That work has paid off and today, we have thousands of companies who are employing tens of thousands of workers in green collar jobs. These projects will build upon that work and will transform the way we power our vehicles.‖
In making the announcement today, the Governor was joined by representatives of three alternative fuel incentive grant recipients that, he said, represent the innovative work the state‘s investment is supporting.
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Chester County-based Momentum Dynamics will receive a nearly $587,000 grant to develop a technology in Berks County that will recharge EV and
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plug-in hybrid vehicles wirelessly. The project is expected to create 18 jobs and cut CO2 emissions by 297,000 pounds annually.
International Battery Inc., based in the Lehigh Valley will use a $235,000 grant to demonstrate the long-term performance and manufacturing viability of an advanced lithium battery pack suitable for hybrid electric and electric buses and commercial trucks. The company’s green manufacturing process, which is solvent-free and free of volatile organic compounds, will create 2 jobs.
The city of Philadelphia’s Mayor’s Office of Sustainability will receive $140,000 for its $500,000 project that will add 10 charging stations and 18 electric vehicles (EVs) and plug-in hybrids to existing, successful local car sharing operations, exposing more people to the benefits of these technologies. The project is expected to create 12 jobs and cut CO2 emissions by 61,000 pounds per year.
―These are exciting projects because they pave the way for consumers to adopt new environmentally friendly and money-saving technologies,‖ said Governor Rendell. ―As more auto manufacturers introduce electric vehicles, these should be viewed as legitimate technologies.‖
The Governor added that GE—a Fortune 100 company—announced recently that it intends to buy 25,000 electric vehicles by 2015, essentially replacing most of its 30,000 conventional-fuel vehicle fleet. The company expects these EVs to save it $500 million over just the next three years.
The Alternative Fuels Incentive Grant Program helps to create new markets for biofuels and encourage innovation in developing and manufacturing other advanced fuel transportation solutions in Pennsylvania to reduce the state‘s dependence on foreign oil.
The commonwealth has invested about $39 million in 114 projects through the program since 2004. These investments have leveraged an additional $216 million in investments from other sources.
For more information, visit www.depweb.state.pa. us, keyword: Alternative Fuels. Media contact: Michael Smith, 717-783-1116
Editor’s Note: The 17 other projects receiving funding through the Alternative Fuels Incentive Grant program are listed below, by county. For more information, call the media contact listed above.
Allegheny
Giant Eagle Inc. – $750,000 to purchase 29 compressed natural gas (CNG) and electric/plug-in vehicles, and to install 10 public electric vehicle charging stations— the first of their kind in Pennsylvania.
Waste Management of Pennsylvania Inc. – $700,000 – to build a CNG fueling station at the Washington hauling facility in Washington, PA, which will also be available to other fleet operators. The company intends to use natural gas in its fleet of trash and recycle trucks.
Bradford
Endless Mountains Transit Authority – $750,000 – to convert five public transit buses to CNG that will be fueled at a public fueling station built by Dandy Mini Marts in either Towanda or Sayre.
Bucks
451 Tyburn LLC – $837,400 – to build a publicly accessible CNG station in Fairless Hills and deploy heavy-duty CNG shuttle buses for public transit service in region.
Chester
West Chester University of Pennsylvania – $6,000 – to cover the incremental cost of purchasing B20 biodiesel to power vehicles on campus.
Cumberland
Cumberland County Commissioners – $15,360 – to purchase 96,000 gallons of blended biodiesel.
YRC, Inc. – $250,000 – to install a biodiesel blending system at its Carlisle Truck Freight Terminal.
Monroe
East Stroudsburg Area School District – $10,540 – to convert two existing, 20,000- gallon tanks for biofuel storage and purchase B5 biodiesel.
Montgomery
Bryn Mawr College – $88,682 – to increase its existing CNG storage capacity, and purchase one CNG transport bus and two Ford Transit Connect CNG vans.
Lower Merion School District – $121,641 – to purchase and use nine CNG school buses.
Self Heating & Cooling Inc. – $48,710 – to develop a public propane AutoGas station in Horsham Township and add two propane-powered vehicles to the company‘s fleet.
Philadelphia
Energy Cooperative Association of Pennsylvania – $631,787 – to help 12 school districts purchase and use 1.8 million gallons of blended biodiesel and 280,000 gallons of B100.
Energy Cooperative Association of Pennsylvania – $425,860 – to help five municipalities and school districts in southeastern Pennsylvania continue fueling 500 vehicles with biodiesel.
Philadelphia City Treasurer, Office of Fleet Management – $205,416 – to offset the cost of purchasing more than 1 million gallons of B5 biodiesel for use in the city‘s fleet.
PHL Taxi Management LLC – $900,000 – to purchase and deploy 50 new CNG taxis in Philadelphia that are compliant with the Americans with Disabilities Act, and to build a publicly accessible CNG fueling station in the city.
Venango
Venango Leasing Co. – $362,500 – to develop a CNG fueling station with convenient public access alongside an existing fuel station in Barkeyville and to purchase equipment that will enable its existing fleet to run on a mix of CNG and diesel.
Westmoreland
Western Pennsylvania Operating Engineers Joint Apprenticeship and Training Program – $486,066 – to convert heavy equipment construction fleets to accept locally produced biofuels and to demonstrate the performance, cost-effectiveness, maintenance, training and research necessary to prove the concept‘s viability.
Statewide
Dean Cerimeli/U-HAUL – $346,000 – to purchase and convert the engines of 20 vans to run on liquefied petroleum gas that will be deployed throughout the state.
Innovation zones get state funding
$100,000 in state money to help tech, life sciences companies get started
The Chester County and Delaware County Keystone Innovation Zones were jointly awarded $100,000 in state matching funds to help promising young life sciences and technology companies get off the ground.
Under KIZ, companies in a designated geographic area that are deemed most likely to create jobs, receive patents, license their technology and introduce their products to market are awarded grants, paid internships and mentoring support.
State Sen. Andrew Dinniman, a member of the Ben Franklin Technology Development Authority which oversees the commonwealth’s KIZ funding, said he was proud that Chester and Delaware counties scored so highly with their joint proposal.
“We want to incentivize and support local entrepreneurs. We all benefit when cutting-edge, knowledge-based companies call Chester County home,” said Dinniman, of West Whiteland, a Democrat who represents the 19th District.
“That being said, we must be extremely careful with funding and only invest in those start-ups that have passed the most rigorous tests and that are most likely to provide great products and high-paying jobs.”
The Chester and Delaware County KIZ programs received full grant
funding for the initiative due to their demonstrated success in helping entrepreneurs bring their technologies to market.
In addition to funding for services and training programs, KIZ companies are also eligible to sell tax credits of up to $100,000 a year which provides the start-up company access to working capital.
“There are 3,500 bioscience companies in Pennsylvania that have ideas,” Dinniman said. Trading tax credits helps those new ideas “become a reality, become a real help to some people.”
The CCKIZ program is administered through the Chester County Economic Development Council and is funded through a declining state grant. Mary Fuchs is the CCKIZ coordinator.
Since its inception in 2007, Chester County KIZ has helped 30 companies get off the ground, with more than 200 jobs created, hundreds retained and 17 patents received or in process, the organization said.
One such company is clean technology firm Momentum Dynamics, which has gone from one employee to 12 since it was founded last year.
The KIZ benefit for Momentum Dynamics was the “ability to hire an intern who is now a full-time employee,” said Andrew Daga, the company’s chief executive. “KIZ was instrumental (for us) to do that.”
Daga said that employee, a business development expert, interned while he was a student at Lehigh University.
Momentum Dynamics, headquartered in East Whiteland, is developing a proprietary system that permits electrically powered vehicles to be recharged without the use of a wire.
The technology allows the recharging system to automatically identify equipped vehicles and regulate the sale of power in a manner similar to the EZ-Pass system, Daga explained.
Earlier this month Momentum Dynamics was awarded a $95,000 grant from the California Energy Commission. The grant will pay for the prototype ground and vehicle components that will be installed in a courtesy minibus used to ferry passengers from Los Angeles International Airport to rental car locations offsite.
Before founding Momentum Dynamics, Daga, of Malvern, directed a division of Bentley Systems Inc., a CAD software company headquartered in Uwchlan, and had been a consultant to major aerospace firms and NASA.
He has worked on such projects as the solar power array structures used on the International Space Station, space-based solar power studies for the U.S. Department of Defense and NASA’s Constellation Program, advancing the multidisciplinary systems engineering for lunar surface habitat design
Keystone Innovation Zones in Pennsylvania are established in communities that host institutions of higher education. The zones are designed to foster innovation and create entrepreneurial opportunities.
The KIZ program was created in 2004 as part of a $1.1 billion economic stimulus package pushed by Gov. Ed. Rendell and designed to improve the state’s dismal job creation record that at the time ranked 42nd out of the 50 states.
Last summer, the Chester County KIZ expanded geographically as well as added four educational institutions to the program.
GreenPointe.Energy Helps Local Organizations Hedge Rising Energy Market
COATESVILLE, PENNSYLVANIA; July 2010 – GreenPointe.Energy orchestrates energy procurement contract for Lambert Spawn. Jason Ulshafer, president, announced that Exelon has secured the winning bid out of seven other competing suppliers.
Greenpointe.Energy has helped Lambert Spawn, a local mushroom farm, secure a long term energy contract. GreenPointe.Energy, using a new and advanced online auction platform, conducted the auction at 10:30 AM on July 1st. The auction closed at 11:30 AM. Because of the auction held by GreenPointe.Energy, Lambert Spawn will secure a better price for the 5 million kilowatt hours the county uses annually, resulting in immediate savings.
Holding these types of auctions helps companies preempt the pending deregulation and electric rate increases that will take effect January 1st, 2011. Lambert Spawn has successfully hedged rising energy costs in PECO territory which experts say will prevent a rising 10 to 20 percent increase in energy costs come January 1st, 2011.
About GreenPointe.Energy
GreenPointe.Energy is a single point of entry solution provider specializing in renewable energy development, energy procurement and energy management technologies.
Contact Info: info@greenpointeenergy.com
GreenPointe.Energy Begins Solar Construction on Crystal Springs Distribution center
EXTON, PENNSYLVANIA; July 2010—GreenPointe.Energy began construction of a solar energy system on the Crystal Spring Distribution Center in Exton, Pennsylvania on July 1, 2010. The Hankin Group, also of Exton, PA, are the owners of the Distribution Center.
The Hankin Group engaged GreenPointe.Energy to provide a turnkey solution for this solar PV system. The project includes comprehensive engineering and design, installation, and commissioning of the system. GreenPointe. Energy’s services also provide all project management, SREC assignment, financing, administration and logistics.
This 166 kilowatt system, once completed, will reduce monthly electricity bills up to 93%. Over a 25 year span, the system will see savings grow by 220%. This amounts to 3,421 tons of carbon dioxide being eliminated.
Completion of this solar system is scheduled for early August.
About GreenPointe.Energy GreenPointe.Energy is a single point of entry solution provider specializing in renewable energy development, energy procurement and energy management technologies.
Contact Info: info@greenpointeenergy.com
800-619-9880