Governor Andy Beshear has recently announced that the state of Kentucky will provide over $1m in grants to be shared by nine tech companies, of which six are located in Louisville.
The funds are matching grants designed to bolster high-paying jobs with the goal of expanding Kentucky’s technology sector. The $1,072,404 in grants are from the SBIR (Small Business Innovation Research) and STTR (Small Business Technology Transfer) matching funds programs.
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Three of the Louisville companies are in healthcare-related fields. Degranin Therapeutics LLC, was created to develop a commercially successful treatment of ARDS (acute respiratory distress syndrome) using University of Louisville academic research. The others are FetalLife LLC – a company developing an at-home telehealth system for expectant mothers and DesiCorp Inc., which is in system restoration for advanced biomanufacturing plants in the event of large-scale cell death or mass contamination.
The other three Louisville businesses are Hexalayer LLC, which focuses on the improvement of high-performance lithium-ion battery technology; PCC Hydrogen Inc., which is involved in the production of net negative CO2 hydrogen from ethanol fuel via patented process; and Pascal Tags Inc. a company in the process of refining its chip-free RFID (radio-frequency identification) inventory tags.
According to a news release from Beshear’s office, the state’s funds will partially match the $7.45m collectively received by the nine companies in federal grants.
