Major Endorsements Announced

Governor Jennifer M. Granholm announced on Friday June 25th, 2010 at the GLREA Energy Fair that Grid Logic will be one of the recipients of grant and loan funds totaling $5 million from the state of Michigan's Clean Energy Advanced Manufacturing (CEAM) program. The award was ushered along by Representative Jim Slezak (D-Davison) whose tireless work to bring to bring the project to life culminated Friday at the fair. Michigan's CEAM awards, funded by the American Recovery and Reinvestment Act of 2009 (Recovery Act), are designed to help Michigan businesses diversify into high-growth, clean-energy industries. Grid Logic will use this funding to establish manufacturing operations in Michigan and to commercialize products for electric utility customers. "We're very excited to finally see the rubber hit the road" said Representative Slezak who is currently seeking election to the 26th State Senate seat, "a lot of Lansing revolves around talking the talk, but this project walks the walk". Grid Logic's fault current limiters and other devices will allow utilities to operate with lower electrical losses and more easily incorporate wind, solar and other sources of alternative energy. Electric utilities throughout the U.S. and around the world have an urgent need for such smart grid infrastructure solutions to stabilize their networks and allow them to operate more efficiently in the face of increasing power demands. Grid Logic is working towards trials of its devices with several U.S. utilities. Dr. Matthew Holcomb, Grid Logic's Chief Technology Officer and a world expert in superconductivity and composite materials, leads the company's technology initiative. "As the manufacturing heartland of America, Michigan is the ideal location for building Grid Logic's devices" said Dr. Holcomb. "Grid Logic is in a position to develop strategic advantage through the combination of Michigan manufacturing expertise gained from the auto industry and superior product capabilities resulting from our patented technology."Grid Logic's Chief Executive Officer, George Caravias, said, "We expect to conservatively create hundreds of manufacturing, engineering and administrative jobs in Michigan over the next five years. We are hopeful that worldwide demand will require us to expand even more quickly, Representative Slezak played a key role in bringing this project to Michigan"