The University System of Maryland (USM) has selected MF Fire, a start-up company developing innovations in the wood-burning stove industry based on technology advances from the University of Maryland, College Park (UMCP), as recipient of the first investment from the recently established Maryland Momentum Fund.
As part of an initial funding round of $1.2 million, the Maryland Momentum Fund is contributing $192,500. The USM Board of Regents created the $25 million fund in 2016 to enable the system to invest in and support promising commercial opportunities arising from advances in research and intellectual property at USM campuses. Other critical sources of money in the $1.2 million funding round include Bill Clarke, a leading clean tech investor.
MF Fire is a fire technology company with origins at Department of Fire Protection and Engineering, which offers the only fully accredited undergraduate program of its kind in the United States, and is one of only three accredited such graduate programs in the U.S.
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