August 11, 2011
Genovation Cars Receives Grant from Maryland Industrial Partnerships Program
ROCKVILLE, Md., Aug. 11, 2011 /PRNewswire/ -- Genovation Cars, a Maryland designer and builder of environmentally friendly automobiles, announced that it has received a product development grant from The Maryland Industrial Partnerships Program (MIPS), a historically effective innovation development program in the State of Maryland.
The $135,110 grant will fund validation of the computational fluid dynamics (CFD) models of Genovation's plug-in electric G2 automobile at the Glenn L. Martin Wind Tunnel at the University of Maryland, College Park. Jewel Barlow is the director of the wind tunnel facility.
According to Maryland Governor Martin O'Malley, "Our number one priority is to create jobs in this new economy. The Maryland Industrial Partnerships Program invests in innovation, enabling us to improve our quality of life and create jobs for the next generation of businesses in Maryland."
MIPS, an initiative of the Maryland Technology Enterprise Institute (Mtech) at the University of Maryland, provides grants for commercially promising technology product development projects that partner Maryland companies with researchers in Maryland public universities. Both companies and MIPS contribute money, all of which supports the work of faculty and graduate students.
Genovation was founded in 2007 by Mr. Saul. Other top company executives include Robert Irby, Senior Executive for Manufacturing and Operations, and Steven Rogers, President and Chief Technology Officer.
This is the 48th round of MIPS funding. Blockbuster and life-changing products developed by Maryland companies have benefitted from MIPS, including Martek Biosciences' nutritional oils, Hughes Communications' HughesNet(TM), MedImmune's SynagisÃ®, Black & Decker's BulletÃ® Speed Tip Masonry Drill Bit, WellDoc's mobile diabetes management platform, and CSA Medical's diseased-tissue ablation device. Products with MIPS projects have generated more than $21.6 billion in revenue and added thousands of jobs to the region. MIPS has supported research projects with nearly 500 different Maryland companies since 1987
Among the other projects to receive recent grants are new drugs, treatments or tests for breast cancer, staph infections and malaria, a dual-use, dual-powered motorized cycle, and superior quality glucosamine.
SOURCE Genovation Cars