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EOS Secures $2.5M Venture
The Regional Technology Development Corp. (RTDC) of Cape Cod announced that Environmental Operating Solutions, Inc. (EOS), an early-stage environmental technology company based in Bourne, Mass., secured $2.5m in its first round of institutional financing. EOS will apply the proceeds to expand operations and advance commercialization of its "green" denitrification products engineered to improve the safety, costeffectiveness, and environmental impact of removing pollutant nitrogen in wastewater. The financing was provided by Stuart Mill Venture Partners of Virginia. RTDC worked with EOS to obtain the venture financing, which is expected to generate a number of new technology jobs in the Cape Cod region. The RTDC serves as an innovation accelerator and is working with local and regional research institutions to launch new technology-based companies on Cape Cod while providing business management and development guidance to existing early-stage companies. "The RTDC provided invaluable assistance in obtaining this financing," said Eric Stoermer, President and Chief Executive Officer of EOS. "From strategic business development assistance through helping us position and present the company to investors and, eventually, negotiate terms, they helped us navigate the process successfully. Immediately upon receiving this funding, we plan to hire three or four new people to work here on Cape Cod." "The support RTDC was able to provide EOS in securing this growth financing underscores the organization's role not only in accelerating the formation of new local technologybased startups, but in boosting the efforts of developing companies on the Cape as they transition to a new stage of sustainable growth," said Robert A. Curtis, Pharm.D., CEO of the RTDC. "Assisting local companies in securing financing for an expansion or in identifying and licensing emerging commercializable technologies that are a fit with their existing businesses is the fastest way we know of to grow employment on the Cape."
NOAA Ship Rude to be Decommissioned
NOAA ship Rude (pronounced "Rudy") will be decommissioned after 41 years of service at its homeport in Norfolk, Va. The ship-the smallest in the NOAA fleet-is best known for her role in the search and recovery missions associated with crash of TWA flight 800 and John F. Kennedy Jr.'s aircraft. During those missions the crew aboard Rude used the vessel's hydrographic survey equipment to discover the locations of the aircraft. The decommissioning ceremony was scheduled to be held at NOAA's Marine Operations Center-Atlantic. Right: The original combined mapping platform, conducting towed side scan sonar simultaneously with shallow-water multibeam benthic echosounding circa 1995.
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