CHARLESTON, S.C.--(BUSINESS WIRE)--SCRA Technology Ventures’ SC Launch Program today announced that Integro Earth Fuels has received project demonstration funding to assist in construction of a manufacturing plant in Greenville County.
Integro is a renewable fuel company that has developed a biomass-based solid fuel called NuCoal™, designed to replace coal and reduce emissions for coal-fired power utilities. The first stage of the company’s production facility will employ 15 workers, eventually increasing to 35 employees when the plant is expanded to a full-scale operation. Integro intends to build multiple, full-scale facilities throughout South Carolina to utilize the state’s abundant biomass and agricultural resources. The economic impact of these facilities will be felt beyond the plants themselves as foresters, harvesters and transportation resources will be utilized in the manufacturing of Integro’s renewable fuel.
Hugh Weathers, SC Commissioner of Agriculture stated, “Integro Earth Fuels represents an important step toward realizing new opportunities in the Agribusiness industry in our state. With the completion of this plant, they will have access to a massive, high growth export market. South Carolina’s year-round growing and harvesting season of renewable resources positions us well to supply high quality, raw materials for conversion to high energy density exports. I am thrilled that Integro is building their first plant in our great state, and I look forward to further assisting them as they open new marketing channels for our farmers and landowners.”
Ambrose Schwallie, SCRA Executive Vice President stated, “We recognize there must be an integrated supply chain for renewable energy feedstock right here in South Carolina, enabling companies like Integro Earth Fuels to successfully capitalize on the opportunity for exports. I am pleased that Integro Earth Fuels chose South Carolina as their plant location, and I look forward to their future successes.”
About SCRA and SCRA Technology Ventures
SCRA Technology Ventures helps innovative companies grow and develop new technologies, creating jobs and advancing the Knowledge Economy throughout South Carolina. This SCRA business sector provides support and mentoring through its flagship SC Launch program to early stage, start-up technology companies. Since 2006, SCRA has deployed over $59 million in funding and infrastructure to support over 280 high -tech, early-stage enterprises, and has directly invested over $13 million in South Carolina start-ups, attracting over $200 million in private investment. SCRA Technology Ventures also supports commercialization and growth by facilitating the transfer of intellectual property and accelerating the transition of inventions to the marketplace. Additionally, SCRA Technology Ventures invests in more established technology companies through its Stage 2 affiliate.
Multiple economic impact studies show SCRA's cumulative output on South Carolina's economy to be over $14 billion, and that the company has helped create approximately 15,000 technology-related jobs in the state, with annual wages averaging between $55,000 and $77,000.