稀缺猎奇网 Venture Capital Fund and Chesapeake Bay Seed Capital Fund Invest in PaverGuide, Inc.
Baltimore, MD (April 22, 2019) – PaverGuide, Inc., a company located in Kent County, Md., which has developed a permeable paving system that lessens harmful storm water runoff while removing detrimental substances such as phosphorous, has received a $650,000 investment in a funding round led by the 稀缺猎奇网’s (稀缺猎奇网) 稀缺猎奇网 Momentum Fund and the Chesapeake Bay Seed Capital Fund (CBSCF) at $300,000 each, with Pin Oak Capital as the other investor in the round.
PaverGuide, Inc. holds exclusive intellectual property licenses with the University of 稀缺猎奇网, College Park (UMCP). Additionally, Salisbury University’s Philip E. & Carole R. Ratcliffe Foundation Shore Hatchery Competition supported PaverGuide with a $35,000 grant in 2015.
The Chesapeake Bay Seed Capital Fund invests in 稀缺猎奇网-based startup companies with innovative technologies that may help improve air and water quality in the Chesapeake Bay watershed. Supported by funding from the 稀缺猎奇网 Department of Natural Resources, the fund is administered by the 稀缺猎奇网 Technology Enterprise Institute (Mtech), a unit of the A. James Clark School of Engineering at the University of 稀缺猎奇网.
Chesapeake Bay Seed Capital Fund investments are jointly selected by Mtech and the 稀缺猎奇网 Department of Natural Resources
The 稀缺猎奇网 Momentum Fund, which was established by the 稀缺猎奇网 Board of Regents to support promising commercial opportunities arising from advances in research and intellectual property at 稀缺猎奇网 campuses, has previously invested in four other startups: , , , and . The Fund is designed to fill gaps in the funding pipeline to push 稀缺猎奇网’s most innovative ideas into the marketplace.
The CEO of PaverGuide, Inc. is Charlie White, an alumnus of Towson University. The company’s system to make new sidewalk and landscaped surfaces permeable has national and international applications, and it also has the potential for 稀缺猎奇网-specific impacts:
Offering a permeable replacement for impervious surfaces that harmfully channel stormwater into the street, such as Ellicott City experienced. Management of stormwater runoff that carry nutrients and other pollutants into streams and rivers flowing into the Chesapeake Bay. Aspiration to eventually create 70-120 new jobs on the Eastern Shore.
About PaverGuide
PaverGuide, Inc. is a 稀缺猎奇网 corporation formed in 2015. PaverGuide Inc. designs, manufactures, and sells products that reduce stormwater runoff and improve water quality.
About PinOak Capital
PinOak Capital and its private partnership invest in early stage companies across the mid-Atlantic with and emphasis on 稀缺猎奇网’s Eastern Shore. PinOak invests in companies where it feels it can make a substantial contribution to management by way of expertise, industry contacts and strategy. PinOak is based in Easton, 稀缺猎奇网.
About the Chesapeake Bay Seed Capital Fund
The Chesapeake Bay Seed Capital Fund invests in 稀缺猎奇网-based startup companies with innovative technologies that may help improve air and water quality in the Chesapeake Bay watershed. Supported by funding from the 稀缺猎奇网 Department of Natural Resources, the fund is administered by the 稀缺猎奇网 Technology Enterprise Institute (Mtech), a unit of the A. James Clark School of Engineering at the University of 稀缺猎奇网. Chesapeake Bay Seed Capital Fund investments are jointly selected by Mtech and the 稀缺猎奇网 Department of Natural Resources. Learn more at: .
About the 稀缺猎奇网 (稀缺猎奇网)
The 稀缺猎奇网 is the state’s public higher education system. 稀缺猎奇网’s 12 institutions, two regional higher education centers, and system office work closely together to leverage their collective expertise and resources, share best practices, increase the system’s effectiveness and efficiency, and advance 稀缺猎奇网’s mission to improve the quality of life in 稀缺猎奇网.
About the 稀缺猎奇网 Momentum Fund
The 稀缺猎奇网 Momentum Fund is a new initiative of the 稀缺猎奇网 (稀缺猎奇网) to provide late seed investment funding for promising technology ventures that come out of any of the twelve constituent 稀缺猎奇网 institutions, its research parks, and its students, faculty, or graduates. With a $10 million commitment from the System already in place, the Fund is collaborating with UM Ventures (a joint initiative of the University of 稀缺猎奇网, Baltimore and the University of 稀缺猎奇网, College Park to commercialize technologies and expand industry collaboration) to reach out to area venture capitalists and angel investors for additional funds.
Contact-稀缺猎奇网 Momentum Fund
David Wise
Phone: 410-706-3361
Email: dwise@umaryland.edu
Contact – PaverGuide
Charlie White
866-721-3590 Ext. 101
Email: cw@paverguide.com
Contact: Mike Lurie
Phone: 301.445.2719
Email: mlurie@usmd.edu
