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star_120Tompkins County Area Development approved a $125,000 loan request from Primet Precision Materials to assist with the purchase of fixed assets to facilitate research and development efforts. This will lead to commercialization opportunities at its current location in Ithaca’s South Hill Business Campus.

This loan to Primet is one of several unique loans in which TCAD has responded to the needs of high tech start-up companies by creating a unique lending model. To compensate TCAD for the high risk nature of making loans to early stage start-up companies, TCAD takes warrants that allow TCAD to purchase stock in the company at a later date at a preferred price.

Primet Precision Materials, Inc. is a process technology company with expertise in creating, controlling and characterizing particles and materials below the micron scale. Primet's patented NanoScission™ process is a tool that can be used for both materials discovery and performance optimization. Primet is working with the world’s leading battery companies to commercialize new materials for use in advanced high-power and large-format batteries in applications including electric vehicles and grid-scale storage.

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