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Anellotech Awarded $750,000 Through the Regional Economic Development Council

| January 16, 2015 | 0 Comments

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Anellotech
401 N. Middletown Road
Building 170A
Pearl River, NY 10965

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Release Date: Friday, January 16, 2015

Media Contact: Caryl Bixon-Gordon (201) 796-7788

Anellotech Named Among 25 Winners of State Funding Award

PEARL RIVER, NY, Jan. 16, 2015 – Anellotech, a green innovation and technology company, has been awarded $750,000 through Governor Andrew M. Cuomo's Regional Economic Development Council (REDC) initiative. The award is part of over $709 million in economic development resources being made to priority projects meeting Empire State Development requirements to drive local prosperity, economic growth and job creation.

The regional competition aims to promote the commercialization of academic research and grow the state's economy. In 2014, the Council recognized 25 Priority Projects which have the potential to transform cities and communities across the Mid-Hudson region. Priority projects were chosen from 111 proposals which were submitted from across the region.

The Mid-Hudson REDC conducted a thorough review and selected several applicants who were invited to provide a full presentation to members of the Regional Council. After 15 hours of presentations and several hours of deliberation, the Council identified 25 projects that had risen to the level of Priority Project designation including Anellotech.

"Investment in Technology is primary to the four core strategies adopted by the Mid-Hudson Regional Economic Development Council," noted Al Samuels,Council Member and President/CEO of the Rockland Business Association. "The Anellotech application was one of only five in this category judged to be worthy of Priority Project status. Rockland County is privileged to be the home base for this cutting edge, 21st Century, R&D initiative," he added.

Anellotech's award will support the expansion of its current research and development headquarters at the Pfizer campus. The company plans to construct a new testing facility to allow the company to collect data for its proprietary process to be used by future customers (licensees) to build commercial scale units at other locations in regions. The testing unit will be in operation continually for the first 18 to 36 months. Afterwards, the unit will be operated periodically.

The company's Catalytic Fast Pyrolysis (CFP) process uses non-food biomass to produce bio-based chemicals.

"Our research is focused on the CFP process for conversion of renewable biomass (in place of petroleum) to produce chemicals widely used for the creation of common household and industrial products.  By using biomass, Anellotech is helping to reduce the world's reliance on petroleum – while lowering these chemicals' carbon footprint to help fight global warming," said David Sudolsky, president and CEO.

Anellotech moved its headquarters and administrative staff to the Pearl River Pfizer campus in January 2013.  The company established its Research and Development operations in March 2013 and is making a long-term commitment to the area.

"Our patented technology is a big step toward reducing the use of petroleum and countering the effects of climate change," Sudolsky said.  "We plan to make a long-term investment in the facility and grow our company's research activity here in Pearl River. We are honored to have been selected as a regional priority company by the state and a grant recipient."

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Photo Caption:

"Anellotech sponsored the Rockland Business Association (RBA) General Membership Luncheon on January 15th and was recognized as a regional priority project in the Regional Economic Development Council (REDC) competition. RBA President Al Samuels (left) and Anellotech Founder & CEO David Sudolsky shared information about the company's plans with some 150 guests."

 

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