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Maine Awards Innovation in Industry

US Maine Governor John E. Baldacci and Maine Technology Institute (MTI) President Betsy Biemann today announced that the MTI Board of Directors has approved a total of $30 million in awards to 14 applicants across Maine, including innovative aquaculture projects.

The projects that are receiving support today will develop and bring new technologies to market, boosting the states economy and creating and sustaining good jobs for Maine people, said Governor Baldacci. These are smart investments in our States technology sectors to transition to a 21st century economy, building on our strengths. Over the years, these investments have generated new good paying jobs across our State and leveraged federal funding for path breaking centers of excellence.

Awards covered projects that are located from Standish to Orono to Beals in all seven of Maines technology sectors and will help to develop technologies that build on traditional Maine industries in aquaculture, forestry, and agriculture, as well as genetics, nanotechnology, global positioning, high-resolution imaging, and ceramics and composites.

In November 2007, voters of the State of Maine approved $50 million in bond funds to finance capital assets to help individual companies and research organizations, as well as collaborative efforts among them, move new technologies along the research and development (R&D) path to the market and benefit the Maine economy. MTI manages the Maine Technology Asset Fund (MTAF) and the award process.