Commerce RI approves 2 Innovation Vouchers worth $92.5K

PROVIDENCE – R.I. Commerce Corp. on Monday approved two companies’ Innovation Vouchers worth a combined $92,492.

American EcoTech LC of Warren was awarded a $49,987 manufacturing voucher to focus on the completion of a comparison test of a more efficient monitoring prototype device.

DBV Technology LLC, located in North Kingstown, was awarded a $42,505 voucher to access the Acoustic Test Tank at the University of Rhode Island Bay Campus for product testing. The company specializes in underwater acoustic research and design. The product line being tested will enhance the company’s current system and improve its ability to be used in combination with remotely operated underwater vehicles, according to Commerce RI.

The voucher will cover the costs of research and development and will be paid to URI.

- Advertisement -

Commerce RI said that 80 Innovation Vouchers had been granted to date, at a value of $3.8 million. Including the voucher awarded to American EcoTech, 18 manufacturing projects have been funded.