Barron Lighting Group, Palmer Electric, VYCON
Barron Lighting Group
Winter Park, Fla.-based Palmer Electric has secured a $1.6-million contract for the electrical work for the new Vision 360 Bill and Vonette Bright Global Training Center. Located on a 22-acre site in Orange County, Fla., the two-story, 56,000-square-foot facility will serve as the worldwide training center for church personnel. The project, which includes a sanctuary, baptistery, classrooms, administrative offices, kitchen/dining area, and a recording studio, is due for completion in September 2010.
Los Angeles-based VYCON , the designer and manufacturer of environmentally friendly, high-speed DC energy storage flywheel systems, has closed a $13.7-million round of funding ,which includes conversion of $6.5 million in existing convertible notes and $1.1 million of existing trade debt. With the funding, VYCON will ramp up manufacturing to meet the increased demand of its clean energy storage systems for data centers, hospitals, universities, broadcast studios, and manufacturing plants, as well as for cargo and rail transportation applications.
Leviton Manufacturing Co.
Melville, N.Y.-based Leviton Manufacturing Co. has signed a definitive agreement with Southwire Co. to sell certain assets of American Insulated Wire Corp. (AIW), a subsidiary of Leviton. Under the terms of the agreement, Southwire will acquire the AIW brands and manufacturing facilities in Douglas, Ga., and Coffeyville, Kan., which produce a variety of electrical wire and cable products for the commercial, industrial, and OEM markets.
Troy, Mich.-based ilumisys, Inc., received a $4-million tax credit to expand research and development of LED lighting technology and ramp-up manufacturing operations in Michigan from the Michigan Economic Growth Authority (MEGA), based on a recommendation from the Michigan Economic Development Corporation (MEDC). The tax credit, combined with ilumisys' planned investment of $7.4 million, is expected to create 213 new jobs at ilumisys and an additional 342 new jobs throughout the state resulting from increased economic activity created by the project.