Orono firm receives grant from MTI

The Maine Technology Institute board of directors has approved four development awards to technology companies across Maine. Nearly $970,000 was awarded, matched by more than $1 million from other sources.

Development Award winner from the Bangor area:

. Zeomatrix LLC in Orono designs and produces novel catalyst materials with applications in animal waste odor control, pesticide remediation, toxic chemical agent remediation, and fuel reformation. The company will use MTI funds for prototype development, testing and will research manufacturing methodology. Award amount, $83,935.

Companies funded by MTI have leveraged nearly $200 million from public and private sources and are creating jobs faster with higher wages than the average Maine company.

MTI development awards range up to $500,000 for “near to market” technology commercialization projects less than three years from sales.

Projects more than three years from sales are eligible for a “far to market” development award of up to $250,000. The awards are offered on a competitive basis to support early activities for product development, commercialization or business planning and development. Each award requires a one-to-one match consisting of actual cash, salaries, staff time or equipment directly attributable to the proposed project.

The application deadline for the next round of awards is Feb. 5.