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State fund invests $600,000 in neutron-detection company

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Indiana’s 21st Century Fund said Friday that it has invested $600,000 in Bloomington-based PartTec Ltd., a manufacturer of neutron-detection technology.

The state’s capital infusion will be co-invested with $1.2 million raised through an offering to private investors by the Indianapolis office of David A. Noyes & Co.

The funds will help PartTec commercialize several products in its non-helium-3 neutron detector line, company CEO Herschel Workman said in a prepared statement.

The company's products are designed for use in medical and defense research laboratories.

“This investment is further validation of the global need for our technology and research,” he said. “It’s extremely rewarding to know that the state of Indiana believes in our products and our highly skilled and dedicated team.”

Indiana’s 21st Century Fund is the state’s principal fund for investing in high-tech companies.
 

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  1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

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