Last week, I posted an item on peHUB about how VC-backed CalStar Products is finding a plethora of Ph.D.s in Silicon Valley to draw from for its R&D.
The Newark, Calif.-based startup is developing a chemical process to make a “green brick” that it says creates 0.2 pounds of carbon dioxide emissions during the manufacturing process, compared to a traditional clay brick fired in a kiln, which produces about 1.3 pounds of CO2. CEO Mike Kane, who joined the company earlier this year from Atlanta, says that he’s never worked with so many Ph.D.s before.
In this week’s PE Week, subscribers can read my story of how the company is in the midst of raising a $15 million Series C round of venture funding, which will include participation from returning investors Foundation Capital and EnerTech Capital.
Kane says he hope to wrap up fund-raising before the end of the year, which will be just in time for the company to open its first manufacturing plant in Wisconsin to service the brick-heavy geography of the Midwest.
I asked Kane if he has considered going after any stimulus money since the company has plans to open more plants in the Midwest. He says the company has applied for several local and federal grants and loans, but that the process is time-consuming and no announcements have yet been made.
Kane says that the company has even hired a contractor to help oversee the application process.
I’m curious to hear from other cleantech companies or investors about the application process for stimulus dollars. Is this is a growing trend to hire people to manage the process?