The engine extends into the asylum space of the former craftsman

0

CAMBRIDGE, Mass. & SOMERVILLE, Mass .– (COMMERCIAL THREAD)–Today, Engine, the MIT-born venture capital firm that invests in early stage Tough Tech companies solving the world’s most pressing problems, has extended its physical footprint to the building that once housed the Craftsmen’s Asylum. Engine signed a two-year lease on 42,000 square feet of manufacturing space at 10-12 Tyler Street, Somerville, MA. This expansion will allow The Engine to deepen its collaborations with neighboring Greentown Labs and demonstrate their shared commitment to supporting the growth of Tough Tech startups.

“We learned from our growing network of Tough Tech founders that this type of large industrial space was extremely difficult to find, access and pay for. Yet the right infrastructure is essential for manufacturing and materials science startups as they develop technology and new processes that will lead us into the next century and beyond, ”said Katie Rae, CEO and Managing Partner. by The Engine. “When the old Artisan’s Asylum space became available, we knew it would be a perfect fit for The Engine’s expansion. close partnership on our common mission of climate technology support.

The Engine joins its holding company, Form Energy, as well as Greentown Labs, Aeronaut Brewery and Brooklyn Boulders in the SOMERNOVA complex. The factory and warehouse, with high ceilings and its own loading dock, are well suited for industrial research and development and prototyping. The space is available for rent through The Engine for Tough Tech teams who need access to key infrastructure. Tenants of The Engine’s new space who are developing climate technology solutions will be encouraged to apply for membership in Greentown Labs. The Engine space opened on December 1 and the company is currently accepting tenants.

“We are delighted to welcome The Engine to SOMERNOVA – adding incredible synergy to the current innovation ecosystem on campus,” said Baillie Yip, Managing Partner, Rafi Properties. “From job creation to education, culture and climate solutions, the impact of high-tech entrepreneurs is being felt locally and globally. We look forward to co-creating a greener, brighter future alongside everyone on board. ”

Greentown Labs, the largest climate technology startup incubator in North America, is headquartered at 444 Somerville Ave, Somerville, MA, and provides its startup community with lab space, shared offices, a workshop. machining, an electronics lab, software and business resources, and an extensive network of corporate clients, investors and more.

“Greentown Labs and The Engine have together supported a number of leading climate technology startups, including Form Energy, Via Separations, Mori, Sublime Systems and Syzygy Plasmonics. These companies are making significant strides in key greenhouse gas emitting sectors and will help move towards our carbon-free future, ”said Dr Emily Reichert, CEO of Greentown Labs. “We each bring complementary strengths and resources to accelerate the growth of climate technology startups and the deployment of their solutions. We look forward to working more closely with Katie and the The Engine team to support the next generation of promising climate technology startups. ”

As of 2017, The Engine has been headquartered at 501 Massachusetts Avenue in Central Square, Cambridge, MA. This 28,000 square foot location provides founders with offices and laboratories, with access to specialized equipment, and currently has 25 resident companies. In 2019, The Engine began redevelopment at 750 Main Street to transform the former Polaroid building and its 200,000 square feet of space into a robust technology hub for the region. The space, which is slated to open in fall 2022, will provide laboratories, manufacturing facilities and offices to nearly 100 companies and 1,000 entrepreneurs. The move to the former Artisans’ Asylum in Somerville complements the existing locations and increases the square footage of crafting space available through The Engine.

To inquire about rental opportunities, send an email to: [email protected]

About the engine

The Engine is a Cambridge, MA-based venture capital firm. It was designed and created by MIT in 2016 to address the unmet need for sustained support for startups with the potential to solve complex existential challenges and have a positive and material impact on society. The engine provides the long-term capital, knowledge, connections, along with the specialized equipment, space, and labs these transformative startups need to thrive. The Engine has $ 667 million in assets under management and has invested in 37 Tough Tech startups since 2017. For more information, visit www.moteur.xyz

About Greentown Labs

As the largest climate technology startup incubator in North America, Greentown Labs brings together startups, businesses, investors, policy makers and more with a focus on scaling solutions. climatic. Driven by the mission of providing startups with the resources, knowledge, connections and equipment they need to thrive, Greentown Labs offers lab space, shared offices, machine shop, electronics lab , software and commercial resources, and an extensive network of companies, clients, investors, etc. With its headquarters in Somerville, MA and a newly opened incubator in Houston, TX, Greentown Labs is home to over 180 startups and has supported over 400 startups since the incubator’s inception in 2011. These startups have collectively created over 8,400 jobs and raised over $ 2.2 billion in funding. For more information visit www.greentownlabs.com or Twitter, Facebook and LinkedIn.

About SOMERNOVA

Deeply anchored in the neighborhood vibe of Somerville’s Union Square, SOMERNOVA (Somerville’s Innovation Hub) is a 7.4-acre campus for innovation and community. Its mission is to help entrepreneurs and businesses iterate and grow faster. SOMERNOVA’s culture is engineered by an eclectic mix of tenants ranging from beer and bioengineering to urban escalation, climate solutions and more. Although their work spans vast industrial sectors, tenants share their collective commitment to making the world a better place for all. SOMERNOVA is owned and operated by Rafi Properties. For more information, visit somernova.com.


Source link

Share.

Comments are closed.