Photo courtesy of: Ohio UniversityNeill Lane, CEO of Global Cooling, Inc., discusses the Stirling Ultra Cold -80°C freezer with participants during the Startup Founders Tour, an event sponsored by the Ohio University Voinovich School of Leadership and Public Affairs and TechGROWTH Ohio.
Global Cooling, Inc., a TechGROWTH Ohio portfolio company generating jobs and building the economy of Southeastern Ohio, was recently recognized with two prestigious awards – the 2017 Energy Efficiency Excellence Innovation Award from American Electric Power (AEP) of Ohio, and VWR’s 2017 Supplier of the Year Award for Equipment, Instruments and Chromatography.
Global Cooling, Inc. develops and manufactures Stirling Ultracold ultra-low temperature (ULT) freezers that use the company’s proprietary free-piston Stirling engines. Stirling Ultracold freezers are sold worldwide to life science, pharmaceutical, bioresearch/clinical and biotechnology customers. Leading the industry with the top-rated ENERGY STAR® certified ultra-low freezer model, Stirling ULT solutions save customers money and meaningfully help them meet their environmental sustainability goals.
“Growing technology companies like Stirling Ultracold are changing the world with their innovative and sustainable solutions – and they’re doing it right here in Southeastern Ohio,” said Ohio University President M. Duane Nellis. “Ohio University is a proud sponsor of TechGROWTH Ohio, whose resources continue to help area companies generate millions of dollars in additional economic activity.”
Through TechGROWTH Ohio, part of Ohio University’s Voinovich School of Leadership and Public Affairs and one of Ohio Third Frontier’s entrepreneurial services programs, technology start-up companies in the 20-county Southeast Ohio area have access to business assistance and sources of capital. Nearly 2,000 area companies, including Global Cooling, Inc., have generated more than $400 million in additional local economic activity with the help of TechGROWTH Ohio.
“Over the last 10 years, the Voinovich School has built TechGROWTH Ohio as a national example of what can be done in this region to spur economic development. We are thrilled by the success of Global Cooling,” said Mark Weinberg, founding dean of the Voinovich School.
In 2008, TechGROWTH helped Global Cooling, Inc. write a proposal that garnered a $1 million grant through the Third Frontier Advanced Energy Program. They also worked directly with Neill Lane, CEO of Global Cooling, as an executive-in-residence to develop a strategic business plan for the company. TechGROWTH Ohio is a $52 million public-private partnership composed of the Ohio Third Frontier program, Ohio University and the private investment community.
Lane shared that TechGROWTH was the lead investor in Global Cooling’s first round of financing. He also attributed his company’s subsequent growth and successful later rounds of financing to the financial and operational support that TechGROWTH provided.
Lane said that TechGROWTH Ohio’s resources and services continue to provide opportunities for numerous startups across the region, which serves as a vital catalyst for economic growth across the region.
“TechGROWTH has created an entrepreneurial venture community right here in Southeastern Ohio,” Lane said. “It’s been enormously valuable, because you want successes like Global Cooling to happen again and again. That’s the goal — it’s not to grow one great company, it’s to create an environment that grows companies as a matter of course.”