$ 200,000 of bridge financing allocated by RMG to launch a new technology will serve as a catalyst to access additional funds from capital markets for that client.
Pittsburgh, PA (PRWEB) March 29, 2012
Renewable Manufacturing Gateway (RMG), an organization dedicated to regional job creation and economic development, is working with a number of clients to launch and capitalize sustainable businesses in the clean technology, renewable and alternative energy industries, particularly those that provide effective solutions to environmental challenges in the shale gas industry.
RMG connects the commercial elements needed to reinvigorate the regional legacy manufacturing base and to leverage regional energy resources, specialization in manufacturing, science and technology, research and development, and the local skilled workforce. RMG works extensively in economically-blighted areas of the region, with companies that are committed to providing equal opportunity employment.
RMG services are highly demanded by companies commercializing innovative technologies that have not been implemented on a commercial scale. Often obtaining performance data is critical to securing capital. RMG assists with obtaining capital for clients who have limited choices in private capital markets due to the absence of such data. Recently, RMG allocated $ 200,000 of bridge financing to launch a process technology that produces petrochemical products in an environmentally-friendly manner, and at much lower cost than conventional processes. RMG believes that this investment will serve as a catalyst to provide access to additional funds from capital markets to ensure that the necessary financial resources are available for that client.
Two of RMG’s clients have been selected to participate in semi-final round of the 2012 BIG IDEA Business Plan Contest of the Ben Franklin Venture Investment Forum. One client has developed a petrochemical process technology and the other has developed a water contamination monitoring technology. Both have been recognized as viable new business ideas that can evolve into profitable businesses in the shale gas industry. RMG provides management services to both clients, which helps mitigate some of the risks that young companies face in capital markets.
RMG brings more than 70 years of experience in international energy and capital markets to develop profitable commercialization strategies and credible industry connections to help young companies become best-in-class employers and grow regionally, domestically and internationally.
Renewable Manufacturing Gateway (RMG) is a Pittsburgh-based nonprofit organization whose mission is regional job creation in the clean technology, renewable and alternative energy industries. RMG advises companies in these industries with respect to project development, project finance, capital markets strategies and introductions, business planning, commercialization, marketing, sales and strategic growth. For more information please visit http://www.renewmfg.org or contact Director of Development, Ieva Abolina: iabolina(at)renewmfg(dot)org, phone (412) 567-1491.