Dominion Resources GreenTech Incubator to Grow Clean Technology Businesses, Jobs in Central Virginia
10 November 2009 - 4:58PM
PR Newswire (US)
- Facility will assist visionary entrepreneurs in developing
high-tech businesses - Energy efficiency, other green technologies
to be incubator's focus - Virginia Biosciences Development Center
will manage Hanover County facility HANOVER, Va., Nov. 10
/PRNewswire/ -- The Dominion Resources GreenTech Incubator, a
center to assist new businesses focused on energy efficiency and
other clean and green technologies, is scheduled to open early next
year in Ashland, Va., with financial support from Dominion
(NYSE:D), one of the nation's largest producers of energy. Modeled
after other successful technology incubators, the Dominion
Resources GreenTech Incubator will provide assistance with
research, financial services, business planning and other issues as
well as office space for start-up companies. As the companies grow,
they are expected to move to nearby locations, boosting the local
economy. In addition to Dominion, founding members of the new
incubator include Hanover County, Va., the Town of Ashland and the
Virginia Biosciences Development Center (VBDC) of Richmond, Va.,
which will manage the GreenTech incubator. The creation of the
incubator was announced at a meeting today of the Hanover County
Board of Supervisors. "Dominion is excited to have a role in
encouraging the growth of the clean and green technology movement
in Virginia," said Mary C. Doswell, senior vice
president-Alternative Energy Solutions for Dominion. "It will take
creative minds to find new, clean technologies that will help our
state and nation become more energy efficient. Those minds now will
have a place in Central Virginia to test their ideas, get
assistance and be launched toward success." The VBDC-managed
Virginia Bio-Technology Research Park in downtown Richmond has
helped start 68 companies in its 13 years of existence. Forty-one
of those companies have successfully left the center, including
three whose stock is now traded publicly. "The Virginia
Bio-Technology Research Park has developed a nationally recognized
incubator program that employs all of the components normally
recognized as necessary to successfully incubate technology-based
companies under the direction of David R. Lohr, chairman of the
National Business Incubation Association," said Robert T. Skunda,
president and chief executive officer of the bio-technology
research park. Skunda will be the chairman, president and corporate
secretary of the Dominion Resources GreenTech Incubator. "We will
be exporting this program to Hanover County and the new incubator
in partnership with Dominion, and see the potential for significant
success in growing the number of companies engaged in 'green and
clean' technology innovation in the Greater Richmond area."
"Creating new jobs and companies in Hanover County through a
business incubator has been part of the county's economic
development strategic plan for some time," said Rhu C. Harris,
Hanover County administrator. "The opportunity for the county and
the Town of Ashland to partner with Dominion and the Virginia
Bio-Technology Research Park to create jobs in the green technology
areas is exciting and one we are confident will produce excellent
results over the long term." The GreenTech incubator will follow
Gov. Tim Kaine's "Renew Virginia" program and is expected to
contribute to Gov.-elect Bob McDonnell's promise to create new
companies and jobs early in the incoming administration. It also
complements the nation's strategy to create 5 million "green" jobs
and fund a national network of business incubators, Skunda said.
The national network -- the National Alliance of Clean Energy
Business Incubators -- exists today. It was started in 2000 by the
National Renewable Energy Laboratory (NREL) and is an alliance of
leading business incubators dedicated to providing business and
financial services tailored to the needs of the clean energy
community. The Virginia Clean Energy Business Incubator in South
Boston is a member of the alliance. The alliance Web site is at
http://www.cleanenergyalliance.com/. Dominion is one of the
nation's largest producers and transporters of energy, with a
portfolio of more than 27,500 megawatts of generation, 1.1 trillion
cubic feet equivalent of proved natural gas and oil reserves,
14,000 miles of natural gas transmission, gathering and storage
pipeline and 6,000 miles of electric transmission lines. Dominion
operates the nation's largest natural gas storage systems with 975
billion cubic feet of storage capacity and serves retail energy
customers in 12 states. For more information about Dominion, visit
the company's Web site at http://www.dom.com/ The Dominion
Resources GreenTech Incubator will be announced officially at the
Hanover County Board of Supervisors meeting today at 2:15 p.m. The
incubator will be housed at Presidential I business park in
Ashland. A ribbon-cutting event is being scheduled for
mid-December. Look for more information in early December.
DATASOURCE: Dominion Resources CONTACT: Jim Norvelle,
+1-804-771-6115, Web Site: http://www.cleanenergyalliance.com/
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