April 4, 2013
(Rochester, New York, April 4, 2013) – Henry Diamond is bullish on Eastman Business Park. The CEO of Rhode Island-based Pathway Capital Partners is so optimistic in fact, his investment firm has established an office at the Park, where he says he expects to witness “one of the great iconic corporate turnarounds in U.S. history.”
“Unlike any other geographic proximity in the United States, Eastman Business Park has the right mix of elements necessary for technological innovation – a utilities/facilities infrastructure and significant knowledge capital – all vital to the commercialization of emerging technologies, from concept to full-scale production.”
“Individual companies have a difficult time procuring all of the assets available here,” Diamond said. The only critical element that’s missing is funding, he said, and “that’s where we come in.” From its new offices at Eastman Business Park, Pathway Capital has begun attracting new tenants to the multi-use research and advanced manufacturing facility by establishing a “new channel to capital – capital these companies need to grow in order to commercialize new products.”
“These companies typically are in the ‘grant stage’ of their technology development, and they need to be very prudent about how they are spending their money,” Diamond said. “Eastman Business Park is an excellent venue for this purpose; first because of the hundreds of thousands of dollars in equipment they can gain access to, but also secondly because of the tremendous knowledge base of the Kodak engineers who can support them.”
“They are also seeing an environment in which other tenants are growing, they are getting private equity financing for their projects. We want to provide that pathway where they can source other capital.”
Pathway Capital is particularly keen on getting the conversation going with companies in the bio-fuels/bio-materials category, because “Eastman Business Park – with its unique infrastructure and complementary specialty chemicals/distillation expertise – represents a perfect fit,” Diamond said.
From converting algae-based oils into jet fuel to perfecting a method for converting municipal solid waste into ethanol, Diamond said “Pathway Capital Partners envisions tremendous potential for job creation at EBP, utilizing the facility’s assets to attract a variety of advanced manufacturing partners and projects in the bio-fuels, bio-materials, renewable and alternative energy sectors.”
“That’s why we are so committed to helping transform Eastman Business Park into a multi-purpose, multi-tenant commercialization and manufacturing facility with a focus on clean technology,” he said.
“Our mission is to become a recognized leader in the strategic deployment of foreign and domestic investment capital for jobs creation and economic development,” Diamond said. “We are already establishing strategic networks, global alliances, local partnerships and formal agreements to attract pre-qualified investors seeking high quality, advanced manufacturing projects and opportunities at Eastman Business Park.”
“And with over a century of deep technical expertise and infrastructure right here, it’s almost like Eastman Business Park has been 100 years in the making.”
About Eastman Business Park
Eastman Business Park is a one of a kind multi-use advanced manufacturing and research center in Rochester, NY. This 1,200 acre campus owned and operated by Eastman Kodak Company encompasses over 100 buildings, 2.5 million square feet of space, and over 50 miles of integrated roads and rail projecting to and from numerous points throughout the Northeast. Often referred to as a “city within a city,” EBP possesses a self-generated utility infrastructure, plus bench top to prototype analytical tools and equipment supporting the acceleration to commercialization of clean technology products in the materials science space. Some of the estimated 50 companies located within this unique innovation ecosystem are involved in the production of highly diverse specialty chemicals, thin films and medical materials, while others are focused on the deployment of next generation functional films, energy storage and bio-mass materials in the domestic product pipeline. Visit us at www.eastmanbusinesspark.com. and follow us on Twitter at @followebp
As the world’s foremost imaging innovator, Kodak helps consumers, businesses, and creative professionals unleash the power of pictures and printing to enrich their lives and businesses. Kodak's Industrial Materials Group offers a portfolio of functional films that enable customers in the electronic, optical and related industrial markets bring tomorrow’s ideas to market today. For more information, visit http://www.kodak.com/go/img.