ElectraMet Relocates-Expands Lexington, Kentucky, Operations
The company will move to a 26,000-square-foot facility at 140 Trade Street. The space will allow for increased manufacturing capabilities, additional workforce and larger-scale systems. In addition, this new facility will allow the company to grow its recycling operations which will allow ElectraMet’s water-treatment systems to provide not only the removal of targeted contaminants but also their recovery in a form that can be of value to customers, effectively mining wastewaters for valuable compounds.
“Our growth as a company from angel investment from the Bluegrass Angels in Lexington to a full-fledged water treatment provider has been tremendous,” said ElectraMet co-founder and CEO Cameron Lippert. “We have appreciated all the support from the community, the University of Kentucky and the State of Kentucky. The move into this new facility represents another step-change in our ability as a company to offer products for a variety of industrial and commercial customers.”
In 2014, the company received early funding through the Kentucky Enterprise Fund (KEF), funded through KY Innovation, and since 2015, has received multiple Small Business Innovation Research awards. Additionally, multiple investments in ElectraMet have been approved through Kentucky’s Angel Investment Tax Credit program, a Kentucky Economic Development Finance Authority (KEDFA) program administered by KY Innovation.
In 2020, the company was awarded $998,663 through the Federal SBIR Grant program and an additional $290,000 in Kentucky matching grants. ElectraMet has taken additional advantage of programs such as the Kentucky Small Business Tax Credit and federal STEP program.
“ElectraMet shows the power of taking an idea and turning it into a reality that is making a positive impact on our state and local communities,” said Governor Andy Beshear. “As a previous SBIR/STTR Matching Funds awardee, this company’s success is a testament to how Kentucky’s resources for supporting technology development in the state can be used. I am thrilled about this expansion and look forward to ElectraMet continuing to thrive in the commonwealth.”
Lexington-based ElectraMet is a startup that was founded in 2013 after winning Awesome Inc.’s “5 Across” pitch competition. The water treatment company has developed technology to deliver clean water in a sustainable manner at a low cost. ElctraMet’s purification process relies less on chemicals and is less labor-intensive than conventional methods.
“ElectraMet is a perfect example of how the local research community can nurture entrepreneurs and help develop great ideas into successful start-ups through innovative solutions that improve something specific for business and industry,” added Bob Quick, President and CEO of Commerce Lexington Inc. “Congratulations to Drs. Lippert and Landon on this expansion, and thank you to those at the Center for Applied Energy Research, which supported and encouraged them along the way.”
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