“The awards dinner officially kicks-off the reinvigorated Women of Innovation® Program for 2017,” said Bruce Carlson, President and CEO of the Connecticut Technology Council. “We have a growing network of over 600 women that we have honored over the past thirteen years that the CTC is committed to cultivating to promote a diverse and inclusive tech talent pipeline for Connecticut.”
HARTFORD: The Connecticut Technology Council (CTC) and Marcum LLP today announced the 2017 Marcum Tech Top 40, an annual recognition of the fastest growing technology companies in Connecticut. This year’s group of top-ranked companies will be honored at an awards ceremony at the Toyota Oakdale Theater in Wallingford, on September 19, and the overall winner in each category will be revealed .
The awards recognize technology leaders in six industry sectors, including Advanced Manufacturing, Energy/Environmental, Life Sciences, New Media/Internet/Telecom, IT Services, and Software. Companies are both privately and publicly held and have at least $3 million in annual revenue and a demonstrated record of revenue growth in each of the preceding four years.
By MItchell Young
DANBURY: Fuel Cell Energy [Nasdaq: FCEL] may finally be lifting its head off mat as its receives one of the largest fuel cell orders ever in the US. PSEG Long Island has agreed to purchase 40 [39.8] megawatts under a Fuel Cell Resources Feed-in Tariff.
According to the company the purchase is “structured to enhance energy resiliency with clean local power generation for Long Island.” The Long Island Power Authority (LIPA) will purchase the power from the fuel cell project under a 20 year power purchase agreement. FuelCell Energy will install, operate and maintain the fuel cell power plants.
The 40 megawatt systems can power 40,000 homes, providing “on-island” generation in a region like Fairfield County, Long Island that suffers from power congestion problems, as wealthy communities resist the building of new electric transmission lines.
According to Chip Bottone, CEO of FuelCell Energy, Inc., “this utility-issued program is well structured to address power generation and resiliency needs on Long Island by locating clean, quiet and affordable power near existing electrical substations that need additional electricity. ” New York classifies fuel cells as qualified technologies under the New York State Clean Energy Standard.
Each fuel cell project will supply a different LIPA electrical substation in Brookhavenm Long Island.
Fuel Cell had been struggling since New England states failed to authorize a power purchase agreement for the company’s planned 63.3 megawatt plant in Beacon Falls, citing lower costs for solar and wind power. The Beacon Falls plant is to be the largest fuel cell installation in the world, but unlike New York and Connecticut, Massachusetts and Rhode Island don’t include fuel cells as qualified technologies in their clean energy standards.
Earlier in 2016 Fuel Cell’s Korean Partner Posco Energy backed away from their partnership and plans to manufacture and market Fuel Cell Energy fuel cells in Asia as the company ran into financial difficulties.
The setbacks virtually wiped out market value as the company’s stock dropped from $5.50 per share to the present day $1.55 within the past year.
The State of Connecticut helped start the healing process for the company that has headquarters in Danbury and manufacturing in Torrington when the legislature passed Public Act 17-144 - An Act Promoting the use of Fuel Cells for Electric Distribution System Benefits and Reliability.
The law allows utilities to purchase up to 30 mega watts of energy from fuel cells and includes a provision for the Connecticut Department of Energy and Environmental Protection (DEEP) to issue an RFP for the procurement of clean energy with a focus on enhancing the reliability and resiliency of energy supply and in a manner that promotes in-state economic development.
WEST HARTFORD: ReadyDock develops tablet docking stations for tablet PCs used in the medical and laboratory, food, clean facilities, and education markets. The dock charges, secures and disinfects, the devices “chemical free”.
The company raised $1.9 million but did not disclose the investors.
This past June, ReadyDock announced the introduction of the ReadyDock Duo Disinfection Station. According to the company its new technology offers “a simple, easy and effective way to disinfect tablets and smartphones in 30 seconds by applying germicidal light to 99 percent of the surface area of the device.” The patented technology and process only requires that hospital staff insert phones and tablets into a disinfection station for 30 seconds.
Thursday, June 22, 2017 from 7:00 PM to 8:30 PM EDT
1080 Old Post Rd. Fairfield
Crowdfunding & Cause-Related Marketing
"The New Intersection of Commerce, Cause and Capital"
Cause-Related Marketing (CRM) has exploded in recent years even though it is a relatively young concept. Considering today's competitive environment, it has never been more important for startup and small businesses that separates them from their competition. Basically, CRM is where a non-profit and a for-profit corporation partner together with the purpose of advancing the mission-related work of the nonprofit and the marketing goals of the corporation or advisor. The purpose is to create a win-win situation for both participants. Crowdfunding has changed the way small businesses and start-ups are raising capital. Crowdfunding is a way of raising finance by asking a large number of people each for a small amount of money. It has significantly grown in recognition and uses the internet to talk to thousands, if not millions of potential funders.
Presenter: Bill Schloth, CPA, MBA Bill Schloth has been investing in, managing, buying & selling start-up and emerging businesses for over 25 years. He is an executive director and founding member of Crowdfunding Global Alliance Inc, a non-profit organization dedicated to providing education and advocacy for crowdfunding. Mr. Schloth is a CPA and had an MBA in marketing from New York
Danbury: FuelCell Energy Inc. [Nasdaq: FCEL] stock went on a world wind trip this week losing 10% of it value on a single day May 2. The stock closed at $1.08 as 2.81 million shares changed hands, nearly twice the daily average.
A day later the company added $15.4 million to its coffers with a public underwriting.
The past year has been difficult for Fuel Cell Energy, its large Korean Partner POSCO ENERGY is retrenching and Fuel Cell will be picking up the load of marketing in Asia.
At home New England power producers didn’t agree to a power purchase agreement for the company’s planned construction of the largest Fuel Cell Plant in the country to be built in Beacon Falls.
Milford: Northeast Fisheries Science Center's Milford Laboratory has developed a “Man Overboard” rescue Device. The device is the invention of Robert Alix, captain of the Lab’s 49-foot research vessel Victor Loosanoff, and Werner Schreiner, a former deck hand on the boat, developed the Man Overboard Recovery device, or MOB, and a U.S. patent is pending. The rights belong to the National Oceanic and Atmospheric Administration (NOAA), the parent organization of NOAA Fisheries.
“We thought it would be useful and could save lives, especially on small boats that usually have a small crew,” said Alix, who came up with the idea with Werner about five years ago during safety training in local waters. “It is hard enough to get a person who is conscious and cooperative into a boat with high freeboard, but much harder if the person is unconscious and cannot help in their own rescue.”
Fifty State Tech Reports Present Connecticut Data
CONNTACT.com Compiled Comparisons With Our State Neighbors Below
The state of Connecticut and many of its companies and institutions have spent the last two decades trying to build out the technology infrastructure of companies and jobs.
A new annual study of tech employment in all fifty states presents a detailed look at employment in the state’s technology industry and within non-tech companies as well.
The report’s data is compiled and reported by CompTIA, based in Downers Grove, IL. CompTia is a member based non-profit organization and bills itself as “the world's leading tech association, is a thought leader and an action leader.” Among the services of the association are standards development, communities of professionals, industry advocacy and IT certification programs.
A Global Healthcare Giant Engineers and Builds New In Connecticut
By Mitchell Young
NORTH HAVEN: Leon Hirsch was hoping to get his entrepreneurial dreams flying in 1963 in the helicopter parts business, when he came across a device described as a “surgical stapler” in a meeting at a patent broker.
The device seemed poorly designed to Hirsch, but he quickly understood its utility in providing a surgeon an alternative to sutures and “needle and thread” stitching.
Soon Hirsch had outfitted a prototype in his basement, and in 1964, he started the fledgling United States Surgical Corporation with four employees.
Hirsch’s early innovation helped to change how surgeries were performed, and his company, would become one of Connecticut’s most successful "start-ups” ever.
More than four decades later the “company” has stitched together its accumulated knowledge of Minimally Invasive Surgery MIS, [entering the body cavity through small incisions or even existing orifices], with advanced engineering, electronics and manufacturing techniques.
Today’s innovation is an entirely new device with the introduction of a new generation of surgical stapler – The Signia (TM) Stapling System, built by the successor company Medtronic.
HARTFORD: Fifty women from across Connecticut were honored for their innovation and leadership during the thirteenth annual Connecticut Technology Council Women of Innovation®Awards Ceremony on March 29th at the Aqua Turf Club in Southington. The awards program recognized women innovators, role models and leaders in science and technology professions, including outstanding young women at the high school and collegiate level pursuing technology studies. Of these 50 women, nine were recognized as winners in their respective categories.
STAMFORD: Revolution Lighting Technologies, Inc. [Nasdaq:RVLT] was recognized as Connecticut’s fastest growing technology company by the Connecticut Technology Council in 2016. On March 9th, the company reported fourth quarter 2016 revenues and sales growth has continued, but not at its once torrid pace. Revenues were $51.2 million for Q4 2016, an increase of 15% over Q4 2015, with a gross margin of 34% with Adjusted EBITDA [Earnings before interest, taxes and deductions] of $5.2 million.
Net income for the company's foruth quarter was $1.6 million or $0.08 per share. Annually revenues of $172 million were a 33% increase over 2015 for the year, with a loss of $500,000. The company has a current market value of approximately $120 million.
Robert V. LaPenta, Chairman, CEO, was happy with the performance saying, "we are pleased to deliver a successful fourth quarter and full year 2016 operating and financial performance, and believe the Company continues to outperform the overall growth of the LED lamp and luminaire industry.”
|Core Informatics CEO: Gabelle wants to "accelerate the digital lab."
BRANFORD: Core Informatics one of Connecticut’s fastest growing technology companies has been purchased by Thermo Fisher Scientific Inc., [NYSE THMO] a diversified global technology and science company with more than 55,000 employees and $18 billion in sales.
Core Informatics founded in 2006, the company was listed by Deloitte at 469 on its 2016 Tech Fast 500 list among US companies for its 130 percent cent growth rate. Core informatics provides “laboratory data management solutions to biopharma, genomics, and other scientific organizations.”
For nearly its first decade the company “bootstrapped” growth, in 2014 the management team put their foot on the accelerator raising $ 5 million to fuel growth, a year later it raised another $17 million, its then 65 employees swelled to the current 100.