JULY 18, 2013. Greentown Labs announced it is moving to 28 Dane Street, Somerville, MA by September, joining an emerging innovation hub in a city that is calling itself the “innovation city.”
Greentown Labs also announced a $30,000 Indiegogo crowdfunding campaign later that day to raise top off the funding needed for the move in addition to major commitments.
Joseph Curtatone, Mayor of Somerville, made the official announcement in the 33,000 square feet of unfinished space and high ceilings, due to start construction next week. He announced that Greentown Labs is the first recipient of a $300,000 working capital loan as part of the city’s new one million dollar revolving innovation fund. In addition, Secretary Sullivan announced that the Massachusetts Clean Energy Center would provide a $150,000 no interest loan and is also reviewing an application for an additional grant.
Joining the press event were Governor Deval Patrick, Secretary of Energy and Environmental Affairs, Richard K. Sullivan Jr., and Secretary of Housing and Economic Development Greg Bialecki. Also on hand was Alicia Barton, CEO, of the Massachusetts Clean Energy Center.
Governor Patrick, who has tracked the progress of entrepreneurs at Greentown Labs through visits and conversations, congratulated them on their success and called Greentown Labs a leading example of the innovation economy that makes the Commonwealth of Massachusetts a global leader.
Jason Hanna, Founder of Greentown Labs, and Emily Reichert, CEO and Executive Director, shared the excitement of what the new facility can do accommodate more entrepreneurs who are solving big energy and environmental challenges. “Two years ago, we were just four startups who needed affordable space to build things. Now we are home to 28 organizations, 100 employees, a 15-company wait list, and a vibrant community that is helping to grow the clean energy ecosystem. All of this has exceeded our expectations in every sense of the word,” said Jason Hanna.
The new space, a few minutes walk from Harvard Sq T station (or even faster by Hubway), will be located next to innovators including, Artisan’s Asylum, Brooklyn Boulders, and a satellite office of the Cambridge Innovation Center. Sustainable businesses, Cuppow and Recovery Green Roofs are also nearby at Fringe.