The Maine Technology Institute is seeking applications for $2 million in funding from organizations looking to make investments in R&D equipment, infrastructure and technology that will drive innovation and generate economic benefits for the state.

Individual funding requests are capped at $500,000 or less from the Maine Technology Asset Fund 2.5 program.

Fund recipients in 2018 included Hyperlite Mountain Gear of Biddeford and Ohio-based paper maker Verso (NYSE: VRS). Hyperlite used its award of $177,640 to help purchase a CNC cutting machine and automated sewing machines, while Verso applied its $4 million award toward upgrading and converting equipment at its mill in Jay to enter the high-demand containerboard market. That allowed Verso to double production and add 120 new jobs at the facility, which it recently sold. Read more