Companies Chosen for Green Launching Pad Funding
Gov. John Lynch has announced the three businesses selected to participate in the next round of Green Launching Pad funding. The most recent round of funding will support businesses that help the state achieve the objectives of the ARRA-State Energy Program and N.H. Climate Action Plan, with an emphasis on green manufacturing while creating new jobs and contributing positively to the state's economy.
The three winning teams are LDI Corporation of Portsmouth, RAS-Tech LLC of Brentwood, and Earthtec of Portsmouth. Since its inception in February 2010, 14 companies have received Green Launching Pad funding, and more than 450 people have attended Green Launching Pad seminars and events designed to help them commercialize their green products and services.
Lynch spearheaded the effort to create the Green Launching Pad, a partnership between the state and the University of New Hampshire that helps innovative companies bring new products to market and create jobs.
"My first priority as governor remains helping our businesses grow and create jobs. While New Hampshire continues to lead the way in economic recovery, we must remain vigilant and focused on helping our businesses, and getting more of our people back to work," Lynch said. "Over the last two years, this partnership has had tremendous results, helping to launch 11 New Hampshire companies and create good jobs in the process."
"Manufacturing has long been an important part of our economy here in New Hampshire. It only makes sense that we do what we can to help bolster this important sector of our economy," he said.
The Green Launching Pad is funded with $1.5 million of federal economic stimulus funds from the U.S. Department of Energy.
Nearly 20 businesses and entrepreneurs submitted applications to compete in the latest round of funding. A panel of judges drawn from the industry selected three business teams that will be supported during the next three months to help them grow their business and create jobs.
"Revitalizing manufacturing in the state and the region is vital to economic prosperity. Our green manufacturing focus will help address economic and environmental concerns simultaneously through job creation and help stimulate the manufacturing sector through use of environmentally friendly materials, and a reduction in energy use in the manufacturing process and in unwanted by-products and waste," said Venky Venkatachalam, project director of the Green Launching Pad and a University of New Hampshire professor of decision sciences.
A brief description of the winning teams and their projects follows:
LDI Corporation, Portsmouth
LDI plans to make green upholstery fabric for architects and interior designers who are looking to buy "green" products for their facilities. LDI has designed a coated furniture upholstery fabric that is made with more sustainable and ecofriendly materials. LDI has developed a manufacturing process to decoratively print this fabric with eco‐friendly inks and using a low-energy consumption process.
RAS-Tech LLC, Brentwood
RAS-Tech plans to enter the road crack sealant business. The raw materials to be used will be rubber containing factory scrap, waste shingles, and re-refined, used motor oil. RAS-Tech will expand their manufacturing facilities with these funds.
This award will allow Earthtec to bring manufacturing jobs back to New Hampshire. Earthtec is an apparel company dedicated to sustainability, responsible manufacturing, and green business practices. From the raw materials used to the streamlined production processes, Earthtec works to minimize negative impact on our environment.
Founded in 2010, the Green Launching Pad is a strategic partnership of the University of New Hampshire and New Hampshire Office of Energy and Planning, with funding from the U.S. Department of Energy. The organization connects entrepreneurs and private industry with technical, scientific and business faculty, students and state-level resources to successfully launch and accelerate the growth of new green businesses. The Green Launching Pad is focused on creating new energy-related jobs in the Granite State and broadening economic opportunities.
For more information about the Green Launching Pad, visit http://www.greenlaunchingpad.org/.