Dynamo Micropower ‘s Growth Assisted By MassDevelopment Emerging Technology Fund Loan
03/30/2015
Dynamo has developed a scalable 15-75kW flexible-fuel, portable micro-turbine platform that meets the power challenges of oil and gas wells by reducing maintenance and fuel expenses. The turbine operates on associated petroleum gas, propane, or compressed natural gas in a single unit. Dynamo’s micro-turbine emissions control exceeds regulatory requirements, while its reliability translates to a lower cost of ownership.
“Managing cash needs is a big challenge for small companies like Dynamo,” said Jason Ethier, President/CEO of Dynamo Micropower. “The funding from MassDevelopment’s Emerging Technology Fund provides us with cash reserves that help reduce our need for costly equity capital.” The bridge financing from the Emerging Technology Fund will support federal Small Business Innovation Research grant awards.
“MassDevelopment’s support of Dynamo Micropower is yet another example of leadership and investment in the Massachusetts start-up and clean energy ecosystem,” said Emily Reichert, CEO of Greentown Labs. “To date, MassDevelopment has been a supporter of Greentown companies with direct assistance—as with Dynamo—and also by supporting the start-up ecosystem through Greentown’s Manufacturing Initiative, which helps make it possible and desirable for more companies to stay and grow in Massachusetts.”
“The Commonwealth thrives thanks to its innovation economy,” said Marty Jones, President/CEO of MassDevelopment. “We’re thrilled that the entrepreneurs at Dynamo Micropower can use this Emerging Technology Fund loan to help grow in Massachusetts and develop their micro-turbine technology to provide a more efficient option than those currently on the market.”
Project Announcements
Canfor Expands Fulton, Alabama, Production Operations
04/22/2024
Tucker Door & Trim Plans Henrico County, Virginia, Operations
04/19/2024
Zekelman Industries Expands Blytheville, Arkansas, Operations
04/19/2024
Fibrebond Corporation Expands Webster Parish, Louisiana, Operations
04/19/2024
Master Steel Expands Hardeeville, South Carolina, Operations
04/19/2024
L3Harris Technologies Expands Orange County, Virginia, Operations
04/18/2024
Most Read
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
38th Annual Corporate Survey: Are Unrealized Predictions of an Economic Slump Leading Small to Mid-Size Companies to Put Off Expansion Plans?
Q1 2024
-
Manufacturing Momentum Is Building
Q1 2024
-
Making Hybrid More Human in 2024
Q1 2024
-
20th Annual Consultants Survey: Clients Prioritize Access to Skilled Labor, Responsive State & Local Government
Q1 2024
-
Public-Private Partnerships Incentivize Industrial Development
Q1 2024