FEBRUARY 2011 – The Michigan Department of Energy, Labor & Economic Growth announced today that KTM Industries, Inc. was selected to receive a Clean Energy Advanced Manufacturing Green Chemistry Program award.
This award was established to accelerate green chemistry technologies in the state by expediting and expanding the availability, as well as the diversity, of green chemistry component products. The company is receiving a low-interest loan (6%) for $128,500 for a maximum of six years.
KTM Industries, Inc., located in Lansing, will manufacture a cornstarch based commercial building thermal insulation material to compete in performance and durability with conventional polystyrene and polyurethane-based insulation products. In conjunction with the state’s effort, this project could make KTM Industries become the first company in the U.S to produce the only truly “green” substitute available for extruded polyethylene and polyurethane foam insulation.
“Our objective with the Clean Energy Advanced Manufacturing initiative is to assist small manufacturers with 500 or fewer employees to diversify into high-growth green technology and encourage business retention and growth in our state,” said DELEG Acting Director Andrew S. Levin. “Michigan is a leader in research and development and manufacturing so we are encouraging our businesses to use this unique talent and history to expand into the growing clean energy industries.”
The funds are made possible thanks to Public Act 242 of 2009, which established the Energy Efficiency and Renewable Energy Revolving Loan Fund (Energy Revolving Loan Fund) Program to provide low-interest loans to public or private entities for energy efficiency and renewable energy projects.
The grant, awarded by the DELEG Bureau of Energy Systems, is funded by the American Recovery and Reinvestment Act of 2009 (Recovery Act). The Recovery Act funds projects that will create and retain jobs, save energy, and reduce greenhouse gas emissions.
Contact: Mario L. Morrow
Source: Michigan Dept. of Energy, Labor, & Economic Growth (DELEG)