Archives from month » August, 2011

Virent Receives DOE Award for Jet Fuel Development

Virent, a Wisconsin CAPCO Program portfolio company, received $13.4 million from the DOE for research in biomass-to-fuels technologies:

Virent announced it has received its largest single federal award to date, up to $13.4M subject to final contract negotiations with the DOE, to employ its patented catalytic process in the conversion of corn stover to jet fuel. The award is part of $36M that the U.S Department of Energy (DOE) is using to fund projects aimed at improving the economics and efficiency of biological and chemical processes that convert nonfood biomass feedstocks into replacements for petroleum-based feedstocks, products and fuels.
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50 Companies to Watch

NeuWave Medical, Inc., a Wisconsin CAPCO Program portfolio company, was highlighted in MDDI Online magazine as one of the top 50 companies to watch in the medical device industry.  Read below for how the companies were chosen and a quick bio on NeuWave.

Choosing just 50 companies to watch in the medical device industry is no easy task. After all, the industry is known for its diversity, not to mention its daily innovations. The challenge for MD+DI editors was to identify not only those companies that have achieved success, but also to find those manufacturers with the potential to revolutionize care practices. To that end we found some companies you may not have heard of, and we found some that may not even have products on the market.

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Madison Drug Company Cellectar to Merge with Boston’s Novelos

One of the companies awarded investments through the Wisconsin CAPCO Program, Cellectar Inc., has acquired Novelos Therapeutics Inc.:

Cellectar Inc., a Madison pharmaceutical company working on cancer-fighting drugs, has merged with a publicly traded Boston-area firm, Novelos Therapeutics Inc.

The transaction essentially grafts Cellectar’s research onto the upper management of Novelos.

With the merger, Novelos will shift its official headquarters from Newton, Mass., to Madison.

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Virent Wins Federal Grant for Fuel Study

Virent, located in Wisconsin, is one of several portfolio companies of the CAPCO Program.  It recently won over $13 million for research in biofuels:

Virent Energy Systems Inc. of Madison was awarded up to $13.4 million from the U.S. Department of Energy Friday for research that seeks to produce renewable jet fuel from nonfood crops.

The Virent project is the largest of six advanced biofuels projects across the country that together were awarded up to $36 million.

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Emerging Market for Green Companies Prominent in DC

As the winner of the WDCEP Business Plan Competition, Skyline Innovations is awarded $150,000 from Enhanced Capital Partners and Advantage Capital Partners:

Skyline Innovations, an energy savings solar company, has emerged as the winner of 2011 Washington, DC Economic Partnership’s (WDCEP) annual Business Plan Competition.  The company, which competed against a pool of stand-out startups and other DC business ventures, was selected by a panel of judges over the course of the last month to receive the $150,000 award: a $100,000 investment made possible through Enhanced Capital Partners and Advantage Capital Partners via the CAPCO program, and $50,000 of in-kind services.

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