ITHACA — E2e materials has taken another step toward establishing its new manufacturing facility in Geneva.
The firm closed a $400,000 loan from the Ontario County Economic Development Corp. in support of the project. The company also received a $750,000 grant from the town of Geneva and the New York State Office of Community Renewal.
The 100,000-square-foot plant, to be located in the HP Neun building at Gambee Road and Route 14, will create as many as 200 new jobs over the next five years, according to e2e. It’s set to open in June.
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Ithaca–based E2e develops biocomposite materials from renewable sources like soy flour and grass fiber. They are used in the furniture and automotive industries.
The loan and grant will go toward capital equipment and expanding production capacity.
“There is increasing demand for our biocomposite products from a number of Fortune 100 companies and this is generating the need for much greater manufacturing capacity,” Patrick Govang, e2e CEO, said in a news release. “We’re fortunate to have the enthusiastic support of the [Ontario County Economic Development Corp.], the town of Geneva, and the Office of Community Renewal who all recognize that e2e will stimulate job growth and revenue.”
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