Subscribe
Close
  • Free for qualified executives and consultants to industry

  • Receive quarterly issues of Area Development Magazine and special market report and directory issues

Renew

Vacuum Insulation Panel Manufacturer Kevothermal Expands Albuquerque, New Mexico, Operations

09/24/2018
Kevothermal, a manufacturer of vacuum insulation panels and wholly owned subsidiary of Sealed Air Corporation, will invest $4 million to expand its manufacturing operations in Albuquerque, New Mexico. The company plans to create up to 20 new jobs.

The firm’s vacuum insulation panels are used in packaging, stationary refrigeration, transportation refrigeration, electronics, and specialty insulation. As an incentive, the expansion will be supported by New Mexico's closing fund, LEDA. The State of New Mexico will provide up to $300,000 for the expansion through the state's closing fund, known as LEDA. Bernalillo County will act as the fiscal agent for the LEDA award.

"Kevothermal, a wholly owned entity of Sealed Air, has been in the Albuquerque area since 2007 and we are pleased to continue our growth and further intrench our roots here. We appreciate the assistance we've received from Albuquerque Economic Development and the State of New Mexico to make this expansion," said Mark Connell, Kevothermal Technical Director of Temperature Assurance.

"The Kevothermal panels provide protection for critical shipments, such as biopharmaceuticals, vaccines, tissue samples and clinical trials. Demand for these products is expected to increase, as they serve a variety of growing industry sectors, such as pharmaceutical, construction, transportation, and food e-commerce," said Debra Inman, Senior Vice President of Albuquerque Economic Development, Inc.

"We would especially like to thank Mark Connell, who has been a fierce advocate for ensuring that Kevothermal continues to operate and expand in Albuquerque. This expansion is a great example of how existing businesses can benefit from the various incentives and programs we have today,” she added.

"This is another prime example of how New Mexico's economic development tools make a prominent difference for business retention and expansion - I am proud to see Kevothermal choosing to expand in Albuquerque," said Economic Development Cabinet Secretary Matt Geisel. "While Kevothermal may now be part of a global corporation, its roots are New Mexican. The technology was developed in UNM's Department of Engineering and it is rewarding to see the renewed fruits of New Mexican entrepreneurship and innovation," he explained.

Share

Exclusive Research