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Italy-based Fuel Cell Researcher To Open $2 Million Facility in West Lafayette, Indiana

04/02/2012
Italy-based Genport SRL, a manufacturer of high-energy electric generators and batteries, will invest in a $2 million North American headquarters at Purdue Research Park in West Lafayette, Indiana. The plant will house the company's hybrid fuel cell research.

"We chose to establish our U.S. subsidiary in West Lafayette to benefit from the tremendous environment of the Purdue Research Park and the state of Indiana," a company spokesman said.

"Indiana's first-rate business climate is being acknowledged globally thanks to firms like Genport," said Dan Hasler, Secretary of Commerce and CEO of Indiana Economic Development Corp. "With our world-class research universities and business-friendly policies, Indiana continues to attract ground-breaking companies and innovative leadership."

The Indiana Economic Development Corporation offered Genport up to $225,000 in conditional tax credits. The Tippecanoe County Commissioners and the City of West Lafayette also provided incentives.

Genport, which will partner with the U.S. Department of Defense and the Naval Surface Warfare Center at Crane, plans to begin hiring engineers in the coming months. The firm initially plans to hire almost two dozen employees.

"We chose to establish our U.S. subsidiary in West Lafayette to benefit from the tremendous environment of the Purdue Research Park and the state of Indiana," said Paolo Fracas, chief executive officer of Genport SRL. "We look forward to networking with the electro-medical and defense industries as well to establish research cooperation with Purdue University."

"I am so pleased to welcome Genport to the Purdue Research Park in West Lafayette," said Mayor John Dennis. "Our ongoing partnership with the Purdue Research Foundation continues to attract companies from around the world. The addition of this international company is proof that our local economy truly has a global impact."

"Genport is an important economic partner to West Lafayette and Indiana," said Joseph B. Hornett, senior vice president, treasurer and COO of Purdue Research Foundation. "Genport's plans to collaborate with Purdue on research projects in alternative energy, particularly in area of fuel cell research, will provide a strong collaboration among Genport, Purdue and Indiana."

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