“Since the early days of CLYNK’s evolution, MTI has been a valuable partner, providing grants and loans that have been integral to our growth. Maine is lucky to have a resource like MTI,” states Clayton Kyle, CLYNK CEO.
South Portland, ME (PRWEB) October 11, 2017
CLYNK has received a $22.5 Thousand, one-year grant, from the Maine Technology Institute (MTI) to commercialize investments made in their processing capacity, with the goal of increasing processing volume. The accelerator grant allows CLYNK to better position itself to attract new bottle redemption states and partners within those states. The technology used in CLYNK’s processing centers enables the company to target all consumers within the 10 US Bottle Bill States—states with an incentivized recycling container deposit program—or roughly 25% of the US population.
CLYNK has doubled in size over the last two years, and is poised to do it again. Enabled by a prior MTI Development Loan they have instituted extensive technology upgrades to improve capacity in advance of making a push for more volume. “Since the early days of CLYNK’s evolution, MTI has been a valuable partner, providing grants and loans that have been integral to our growth. Maine is lucky to have a resource like MTI,” states Clayton Kyle, CLYNK CEO.
Through this expansion, CLYNK will provide more Maine jobs and further encourage the development of technical and operational skillsets here at their South Portland headquarters. CLYNK currently employees over 100 processors, drivers and office personnel based in South Portland. Customer acquisition outside of Maine will create advancement opportunities for Maine employees in the form of operations managerial roles, expert advisors to new locations, roving resources, additional Customer Service roles, and additions to Sales, Marketing and IT functions all based in Maine.
MTI Accelerator Grants are intended for companies who have received Development Loan and/or Federal R&D funding, including SBIR/STTR awards, to support commercialization and business development capacity-building activities that are required to advance new technology to market. Eligible companies use these grant funds to support commercialization and business development (capacity) activities. Eligible project activities work to advance the new technology to market and to firmly establish or increase the scope and sustainability of the business enterprise. This MTI grant funding is intended to increase the competitiveness of the company by providing funds directed at products/services commercialization, business and management team development, and company organization.
Founded in 2006, CLYNK is one of the fastest growing bottle redemption services in the country, processing under patented technology, over 900 million containers since inception. With this technology, CLYNK is a true disruptor combining bottle redemption and traffic driving capabilities on behalf of its retail partners. Unlike any other bottle redemption service worldwide, CLYNK offers a convenient and easy bag-drop system at retail that eliminates waiting in line, manual count, material separation, and reduces fraud; all concerns which have historically dampened redemption participation and customer satisfaction. CLYNK is also the only bottle redemption system that allows customers to create a personal account, accumulate a balance and use funds at their discretion (for cash, groceries or electronic donations to local charities). Headquartered in Maine, the company currently operates in Hannaford Supermarkets in Maine and New York, and has licensed technology in both Oregon and New Brunswick, CA. To learn more visit http://www.clynk.com.