EFT Announces $5.65 Million Investment in University and Two Texas Companies
Posted: January 6, 2010
Gov. Rick Perry reiterated the importance of strengthening the state’s emerging technology sectors and promoting partnerships between the public and private sectors through investments from the Texas Emerging Technology Fund (TETF). The governor spoke at the University of Texas-Pan American where he announced TETF investments in the university and two area companies.
“The investments we’re announcing today are an essential part of our ongoing strategy to establish Texas as the go-to place for innovation and sensible incentives,” Gov. Perry said. “These three essential investments will have a strong impact across our state and here in the Valley, and their benefits will be felt in the form of jobs for our citizens, increased private sector investment and a better quality of life.”
UT-Pan American is receiving $3.4 million for the creation of its Rapid Response Manufacturing Center that will reduce the lead time in a product’s life cycle between inception and delivery to the customer. The center will provide greater commercialization opportunities in South Texas by centralizing all product development, design, testing and distribution in one location, thereby reducing development time and driving new products into the market more quickly.
Photon8 Inc. is receiving $250,000 for the development of its commercially viable algae bio-fuel technology. The company will use the award to genetically enhance the performance of the algae and advance its extraction technology.
ScanTech Sciences Inc. is receiving $2 million for the development and commercialization of food sterilization technology that uses electronic pasteurization to ensure the safety and freshness of food. The technology will allow for safer import of food by removing more insects, bacteria and toxins without using chemicals
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