Rutgers EcoComplex “Clean Energy Innovation Center,” a unit of New Jersey Agricultural Experiment Station (NJAES), has added three new companies into its Clean Technology Incubator.
Caelum Biosciences, Premissa, Inc. and HiT Nano, Inc. are the newest incubated companies at the Rutgers EcoComplex in Bordentown, NJ, which provides a wide range of business development expertise, including discovery, concept assessment, business model assessment, technology verification, scale-up and commercialization, as well as state of the art facilities for clean technology innovators.
“These companies were attracted to the EcoComplex because of the business development incentives, technical expertise, as well as state of the art facilities and its location in central Jersey,” says Dr. Serpil Guran, director of the EcoComplex.
“Our accelerator program, EcoIgnite, assists technology companies to successfully maneuver the innovation pathway, and the newly formed statewide incubator and collaborative workspace rent program called NJ Ignite, were strong incentives in these three companies choosing our facility,” she adds.
Caelum Biosciences is a clinical stage biotechnology company. It is planning to initiate a Pivotal Clinical Trial in the first half of 2020 for its lead product CAEL-101, a monoclonal antibody that will be studied for the treatment of AL Amyloidosis, a rare disease that occurs when bone marrow produces abnormal antibodies that can’t be broken down.
“The Rutgers EcoComplex is an excellent location for Caelum given the rich pharmaceutical and biotechnology history of New Jersey,” says Michael Spector, CEO of Caelum Biosciences.
Also joining the EcoComplex is Premissa, Inc., which is the first incubated company at the EcoComplex to receive support from NJ Ignite. Premissa develops and manufactures energy efficient, green technology equipment for the semiconductor industry. Its modular electrochemical gas generators, Gas Robots™, produce specialty gases in the semiconductor factory. Chips from these factories are used in next generation 5G amplifiers for enhanced Wi-Fi, vertical cavity lasers for the iPhone’s facial recognition function and high efficiency photovoltaic cells for satellites.
The third newly-incubated company, HiT Nano, Inc., delivers industry-leading, cost-effective and high-performance Lithium-ion cathode materials for the re-chargeable battery, EV and energy storage markets. Its patented micro-aerosol controlled high temperature (MACHT) synthesis can reduce costs by more than 30 percent by producing no waste water, recovering transition metals in used batteries and protecting the environment.
“The EcoComplex is committed to helping clean-technology business startups thrive in New Jersey by giving them the targeted support they need for creating jobs and a cleaner environment,” says Dr. Margaret Brennan-Tonetta, director of economic development and innovation at NJAES.
Rutgers EcoComplex is the first incubator facility in the state to qualify for the NJ Ignite program, which provides rent-support grants for technology and life sciences startup businesses moving to incubators, accelerators and coworking spaces throughout the Garden State. NJ Ignite is made possible through support from the New Jersey Economic Development Authority.