Rocket ventures invests in 6 local firmsWritten by Duane Ramsey | | email@example.com
Rocket Ventures, the venture capital division of the Regional Growth Partnership, announced investments totaling $237,000 in six Northwest Ohio technology companies through its “Ignite!” grant program.
The Ignite program is designed to help companies develop and use technology to create new products and jobs through the Launch program of RGP. Rocket Ventures has invested more than $1.4 million in Ignite grants since the program began in 2008.
“These early infusions of capital provide an impetus for entrepreneurship in product development and will hopefully result in innovations that provide a significant return on investment for the Northwest Ohio economy,” said Greg Knudson, director of Rocket Ventures.
A $50,000 Ignite grant was awarded to AllinBio Plastics, LLC, a joint venture of The Andersons Inc, Laurel BioComposites LLC, and LingoTech USA, for production of bio-plastic enhanced products made from dried distilled grains with soluble byproducts of ethanol plants.
AP Alternatives, a spin-off of Alex Products, Inc., received a $36,500 Ignite grant to fund the development of a racking system for solar modules and automated equipment use in utility-scale installations of solar array projects.
Mold Sentry, an Ohio LLC, was awarded a $30,000 Ignite grant to continue research and marketing a systematic approach to address problems associated with poor indoor air quality due to molds, viruses, allergens, bacteria and other airborne pollutants.
A $37,500 Ignite grant was awarded to Beyond Gaming for development of proprietary technology for an online portal that allows members to participate in competitive gaming stakes on game consoles regardless of time or location in a safe, secure and legal environment.
SynTerra Fuels LLC was awarded a $50,000 Igniter grant to protect its intellectual property and development of zero sulfur, high cetane diesel fuel from domestic low-value waste materials at a competitive price to fossil-derived diesel fuel.
TransGlobal Container Corporation received a $33,000 Ignite grant for licensing, engineering and transportations costs to develop a system of convertible transportation container with on-demand deployable wheels to facilitate its compatibility with land, rail and sea shipments.
Rocket Ventures is a pre-seed, early-stage venture fund for technology-based companies operating in the state of Ohio. It consists of $15 million in state funding and $7.5 million in private sector investment.
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