By the BF Staff
From the September/October 2018 Issue
Gov. Susana Martinez recently announced that Intel Corporation is moving technology development for its 3D XPoint memory technology to its facility in Rio Rancho, NM. The move includes the addition of over a hundred jobs at Intel’s Rio Rancho site.
“Since day one we’ve been committed to making New Mexico a great place to do business and now Intel is adding more jobs and bringing new opportunities to New Mexico,” said Gov. Martinez. “That’s why we’ve continued to make New Mexico competitive with our surrounding states—because it shows results for our families and communities.”
In 2015, Intel and Micron Technology announced the development of 3D XPoint, a new class of storage and memory technology that is faster, denser and non-volatile. In July 2018, Intel and Micron announced that technology development beyond the second generation of 3D XPoint memory media will be pursued independently. Now Intel is actively working on this transition, which includes moving technology development for 3D XPoint to its facility in Rio Rancho.
“Intel has developed a technology leadership position delivering a broad portfolio of Intel® Optane™ SSD products based on 3D XPoint™ memory media across client and data center markets, and we want to thank Gov. Martinez and the state of New Mexico for their continued support of our business,” said Katie Prouty, New Mexico Plant Manager, Intel Corporation.
Gov. Martinez was joined by Ideum executives and local officials for the ribbon-cutting ceremony on the company’s new exhibit fabrication studio in Corrales, NM that will allow the company to continue growing production and creating new jobs. The new 5,500-square-foot facility will grow Ideum’s footprint, allowing them to serve more customers across the globe.
“For years, we’ve worked relentlessly to make New Mexico a great place to do business and we’re seeing the results,” said Gov. Martinez. “When we cut taxes, slash through red tape and strengthen our powerful economic development tools, our homegrown technology companies, like Ideum, succeed and grow in New Mexico.”
Ideum’s new exhibit fabrication studio features state-of-the-art tools such as new CNC machines, a plasma cutter and mill, along with a variety of woodworking tools. Ideum custom designs and manufactures interactive multi-touch tables and walls using cutting-edge sensing and projection technology. Their products help to create interactive experiences for museums, educational institutions, government agencies and Fortune 500 companies.
“Ideum is a true economic development success story and I am thrilled to celebrate their continued growth,” said NM Economic Development Cabinet Secretary Matt Geisel. “After years of hard work to create a business-friendly environment, homegrown companies are choosing to stay and are thriving in New Mexico.”
CATALYST FUND INVESTS IN BENNUBIO
BennuBio, Inc. will receive a Catalyst Fund investment of $1.5 million from Tramway Venture Partners, Cottonwood Technology Fund and Sun Mountain Capital. This investment will help BennuBio develop high throughput flow cytometers. BennuBio is the third New Mexico startup to receive Catalyst Fund investment, which leverages private investment for early stage startups—anchoring them in New Mexico.
“Once again, I’m proud to say that we’re helping a local, high-tech company expand—right here in New Mexico,” said Gov. Martinez. “Since 2011 we’ve created new tools to help our homegrown, high-tech companies thrive and now we’re seeing incredible results. With tools like these in place we will continue to see our homegrown companies continue to thrive for years to come.”
Gov. Martinez established the Catalyst Fund, Innovation Vouchers, the SBIR Matching Grant and the Credit Enhancement Program to help homegrown New Mexico technology startups grow and thrive. As a result of these tools, reforms and investments, New Mexico continues to recruit global and national companies like Facebook, Keter Plastic, Safelite and others, while helping homegrown businesses like Ideum, UbiQD, Descartes Labs, Vitality Works and others grow and thrive as well.
“This investment is a critical step of growth for BennuBio as it will enable us to develop our robust flow cytometry instrumentation platform for market entry in 2019,” said Steven W. Graves, CEO & President of BennuBio, Inc.
BennuBio joins a growing list of companies that have been recipients of Catalyst fund investments, including Bayotech and Armonica Technologies. As part of this agreement, BennuBio, Inc. has acquired all assets and intellectual property of Eta Diagnostics, Inc., an Albuquerque company that developed the first prototype high throughput parallel acoustic flow cytometer using initial seed investment and a direct to Phase II NIH SBIR grant.
This investment will enable BennuBio, Inc. to bring its flow cytometers to market within one year and develop a modular platform for application in biomedical research, pharmaceutical screening and diagnostics.
“BennuBio is a unique, homegrown company with lots of potential for growth,” said Economic Development Secretary Matt Geisel. “With investment from the Catalyst Fund, we are able to provide access to capital and help anchor companies like BennuBio in New Mexico.” The Catalyst Fund invests in emerging venture capital funds throughout the state. These venture capital funds invest in seed and early-stage technology companies. Sun Mountain Capital is the manager of the Catalyst Fund. The Catalyst Fund has made commitments to ABQid, Arrowhead Innovation Fund, BlueStone Venture Partners, Cottonwood Technology Fund, NMA Ventures and Tramway Venture Partners.