Commerce board to vote on three Innovation Vouchers Tuesday night

Updated at 4:30 p.m., May 22, 2019

PROVIDENCE – The R.I. Commerce Corp. board of directors is expected to vote on the issuance of $131,403 in Innovation Vouchers to three companies at at its scheduled meeting Tuesday evening.

The three companies have been recommended for vouchers are Rite-Solutions Inc., Tank Vision Inc. and Trans-Tex LLC.

  • Rite-Solutions, based in Middletown, would receive a $49,420 Innovation Voucher if approved. The voucher would be to continue a collaboration with the University of Rhode Island to incorporate technologies, including artificial intelligence, in its products to address challenges faced by its U.S. Navy and commercial customers. The voucher project would focus on the development of a new approach that couples machine learning with computational topology to improve the identification of objects using time-series sensor data. Rite-Solutions is a software development, systems engineering, information technology company.
  • Tank Vision, headquartered in Vineyard Haven, Mass., with an office in Providence, would receive a $41,526 Innovation Voucher, if approved. The company would use the voucher to collaborate with Design Lab at Brown University to validate the accuracy and reliability of the company’s oil burner monitor that is part of its product line. Tank Vision provides monitoring product that uses liquid level and gas pressure indicators in holding tanks to monitor and analyze data.
  • Trans-Tex, based in Cranston, will receive a $40,457 Innovation Voucher, if approved. The company would use the Innovation Voucher funds to explore the use of laser technology for dye cutting in the post printing process for its recently launched production of sheet-based neoprene products. The shift could potentially allow the company to access a wider market of promotional products. Trans-Tex specializes in narrow-web sublimation printing, which uses a dye-heat transfer process

Chris Bergenheim is the PBN web editor. You may reach him at Bergenheim@PBN.com.

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