Dominion Energy has received authorization from the Department of Environmental Quality to construct and operate a solar farm in King William County.
Hollyfield Solar, a 17 megawatt (MW) project, is expected to supply enough electricity to power over 4,000 homes.
“This latest announcement is a testament to how rapidly Virginia’s solar sector is growing,” Gov. Terry McAuliffe said in statement. “Solar energy is essential to bringing the energy diversity our commonwealth needs for businesses, families, and taxpayers as we work to build a new Virginia economy.”
On Thursday, Facebook announced it would build plans for a $750 million data center in Henrico County, a project tied to Dominion’s plan to build up to $250 million in solar power facilities across Virginia. The solar initiative would be paid for through a special rate charged to Facebook and other big customers.
Once complete, Hollyfield Solar farm is expected to offset the generation of 20,085 tons of carbon dioxide, 14 tons of nitrogen oxides and 16 tons of sulfur dioxide.
Gov. Terry McAuliffe announced Wednesday that four communities will receive $60,000 each to develop entrepreneurship.
The Community Business Launch (CBL) awards will provide funding to train entrepreneurs and conduct business plan competitions that align with local and regional economic development strategies, primarily in Virginia’s downtown commercial districts.
Projects were reviewed and evaluated competitively, with an emphasis on those with the capacity to implement a successful campaign, alignment with regional or local strategies, and the availability of matching resources. Four of the six applicants submitted were selected for funding.
BAE Systems Inc. has named Alphonse “Al” Whitmore president of its Intelligence & Security sector in McLean.
The appointment is effective Oct. 16.
Whitmore joins BAE Systems from General Dynamics Information Technology, where he was most recently senior vice president of the Global Solutions Division. In this role, he developed and implemented a strategic plan to invest in core division capabilities, expanded the business into new markets and established a mentoring program..
Prior to General Dynamics’ acquisition of GTE Government Systems in 1999, he spent approximately 15 years in a number of business development and strategic leadership positions with GTE Government Systems and GTE Laboratories.
Whitmore holds a bachelor’s degree in electrical engineering from Brown University and an MBA from Northeastern University.
Chrysalis Vineyards plans to add a creamery and bakery to its Loudoun County operations.
Chrysalis xpects to spend $478,000 on the expansion and hire 12 additional people.
The winery will sell locally produced cheeses and breads and will purchase 100 percent of its agricultural ingredients from Virginia farmers.
Gov. Terry McAuliffe approved a $24,000 grant from the Governor’s Agriculture and Forestry Industries Development (AFID) Fund, which Loudoun will match with local funds for the project.
“Over the last decades, unfortunately, much of the farming activity in the county has waned,” Chrysalis Vineyards owner Jennifer McCloud said in a statement. “This grant supports our mission to help restore this essential use of our lands.”
Ross Dunlap, CEO of Ceres Nanosciences, says a grant from Virginia Catalyst helped the company attract additional funding. Photo by Stephen Gosling
In 2015, Manassas-based Ceres Nanosciences was trying to commercialize its breakthrough diagnostic test for Lyme disease. The company uses the Nanotrap nanoparticle technology to detect signs of disease at extremely low levels from urine, saliva and blood.
Giving the company a boost at that time was a $500,000 grant from a state-funded nonprofit corporation, Virginia Biosciences Health Research Corp. — also known as the Virginia Catalyst. “Every amount of funding is critical for a company at our stage, especially in this industry,” says Ross Dunlap, CEO of Ceres Nanosciences. “The life-sciences industry — biotechnology — is a very expensive business to set up and run.”
The Catalyst grant provided more than just dollars and cents. The organization’s assistance allowed Ceres to collect more data supporting its technology and fine-tune it for the commercialization of its Lyme-detection test. The Catalyst also helped the company develop relationships with university researchers with valuable expertise.
Ceres’ experience is one of many examples of how Virginia is trying to turn research into marketable products and services that will spur economic development. While funding is a big part of the process, the grants demand collaboration among industry and the state’s research universities.
Catalyst funding requires a grant recipient to develop partnerships with two of Virginia’s research universities. For its project, Ceres worked with George Mason University and Virginia Tech. George Mason’s research focused on helping Ceres commercialize the Nanotrap Lyme test, while Tech’s Lyme disease research provided the company with patient samples and comparison data for clinical tests.
The grant also spurred more interest in the company. “[The Catalyst grant] did actually help us attract more funding, not just from the perspective that we had more data in hand, but it also gave us credibility, and it demonstrated we already had outside investment,” says Dunlap.
Fast forward to today and Ceres is in a major growth period. The company conducts its Nanotrap Lyme Antigen Test for patients and physicians around the country, and in August it announced plans to expand testing to Europe. Ceres also is seeking Food and Drug Administration approval to provide testing at the “point of care,” such as a doctor’s office.
Ceres, which now has 13 employees, is hiring more scientists. It has received grants from major benefactors, such as the Bill and Melinda Gates Foundation, to apply its technology to other diseases, such as Zika, HIV, malaria, tuberculosis and Ebola.
In addition, the company is going through a $9 million round of private investment, with more than $5.5 million already pledged by GreyBird Ventures, an early-stage venture fund based in Boston.
“I’ve been very impressed with the results,” Jeff Gallagher says of the Catalyst program. He is CEO of Virginia Bio, the commonwealth’s life sciences trade association. “Yes, the projects that have been funded are neat, but, more so, I’ve personally perceived far more collaboration and openness to collaboration and actually doing it among research universities. The whole approach to working with business has changed, too.”
Stronger together
The competition for research dollars is fierce. For many major grants, Virginia’s universities aren’t as competitive on their own. But when their resources are combined with other universities, they can offer the breadth of research needed to attract major investment. And that means that collaboration has become increasingly important to turning Virginia’s university research into marketable products.
“A big part of what we are trying to do is achieve this competitive critical mass through collaboration,” says Mike Grisham, CEO of the Catalyst. This approach, he explains, “brings in outside capital to Virginia to help fuel our life-sciences industry and our life-sciences research.”
Started four years ago, the Catalyst has held seven rounds of funding. Its latest recipients will be announced in early October.
Member universities include George Mason University, Virginia Commonwealth University, University of Virginia, Virginia Tech, Old Dominion University, the College of William & Mary and Eastern Virginia Medical School.
To qualify for grants of $200,000 to $800,000, projects must truly be collaborative. They are required to include partnerships with two of the seven participating Virginia research institutions and at least one industry partner. In addition, each project must have matching funds. “All we’re able to do is put enough money up to really catalyze things where they can hit meaningful milestones to attract additional outside capital from either the [National Institutes of Health], or the Department of Defense, or venture capitalists or from Big Pharma,” says Grisham.
Data show the relatively young program is having an impact. In four years, the Catalyst has spent $10.4 million on 24 projects, which had just over $20 million in matching funds. Those projects have gone on to raise $80 million in outside funding. “That’s really a 10-to-1 return on taxpayer dollars,” says Grisham. “For every dollar we’ve put in, we’ve attracted 10 times that to really drive commercialization and get our innovations from our universities into the marketplace and thereby creating jobs.”
Historically, about 30 percent of the projects that have applied for the grants have been funded. But demand is getting stronger, and competition is more intense. In the sixth round of funding, 30 projects submitted plans, and six were selected. In the seventh round, which focused on neurosciences, three of 12 projects were selected to receive funding.
The money for these projects isn’t guaranteed. To receive the full funding, research partners must hit major milestones, which are included in their contracts.
Money for Catalyst grants includes funds from the General Assembly as well as $50,000 a year from each of the participating universities. In the current fiscal year, the program will receive $3.5 million from the state.
All projects are reviewed and vetted by the Catalyst’s Project Management and Oversight Panel, which includes scientists, venture capitalists and CEOs from life sciences companies.
The panel members evaluate projects on the capability of their management teams, the probability of their obtaining follow-on funding, the quality of their science and the likelihood of their research being commercialized. The panel then makes recommendations to the Catalyst’s board of directors, which selects the projects.
In addition to fueling growth for early-stage companies, the program has improved relationships among Virginia’s researchers. “Somebody accused me early on of being the eHarmony of life sciences in Virginia,” says Grisham.
“We’ve really changed the culture from one of being fiercely independent to highly collaborative — focused on taking our innovations out of universities and getting them commercialized.”
A breakthrough facilitated by the Catalyst was an agreement among the research institutions to share core facilities. All seven agreed this summer to share specialized equipment and laboratories, charging the same rate that their own researchers would pay. “Rather than each university having to replicate each of these major investments in research tools, we’re able to allow people to share them,” says Grisham. “It’s a big breakthrough in collaboration.”
Becoming ‘The Brain State’
Another big project launched by the Catalyst includes the Virginia Neuroscience Initiative. It includes a statewide Neurological Disorders Registry of patients in Virginia who have been diagnosed with disorders such as Alzheimer’s, Parkinson’s, ALS, traumatic brain injury and mental illness.
This registry can provide researchers in those fields with an important tool, says Grisham. “Let’s say you’re a researcher and you need to know how many women in the commonwealth have Parkinson’s disease between the ages of 20 and 45 who don’t have diabetes or cardiovascular disease. Well, we can give you that answer in 48 hours.”
The initiative’s Clinical Trials Network includes five of Virginia’s largest medical centers and university researchers that work together to screen and enroll participants for clinical trials.
The initiative also includes a directory of Virginia’s researchers, health-care providers and facilities involved in neurosciences. That information combined with promising research at several universities, such as The Roanoke Brain Study at the Virginia Tech Carilion Research Institute, could help Virginia attract a lot of research money.
“NIH has a huge brain initiative, where they’ve said over the next 10 years we’re going to put $1 billion into brain research,” says Grisham. “Well, what Virginia aspires to be, we’re not there yet, but we aspire to be is ‘The Brain State.’”
A new fund
Another new fund set up by the commonwealth has goals similar to the Catalyst. The General Assembly last year established the Virginia Research Investment Fund (VRIF) to encourage collaboration in commercializing research in biosciences, cybersecurity and data analytics. The fund also will be used eventually to help universities attract high-caliber researchers.
Unlike the Catalyst program, the fund does not require a project to have a private-sector partner when a grant request is submitted. The proposal, however, must include a schedule for commercializing the research within the grant period, which can be up to five years. “We’re very focused on research that is nearing a point where there’s a product or service to be commercialized,” says Lynn Seuffert, associate for research investment for the State Council of Higher Education for Virginia (SCHEV), which is overseeing the application process.
To be eligible for funding, a university must partner with another Virginia university, a private company or multidisciplinary groups within a university. Like the Catalyst process, a panel of scientists, venture capitalists and small business owners will review and score the projects. Matching grants also are required.
The General Assembly allocated $12 million from its general fund for the VRIF. The legislature also included $29 million from a bond referendum to fund requests for equipment or renovation of facilities.
This summer, the Virginia Research Investment Committee, which governs distributions of VRIF, accepted proposals for its first round of funding. The committee determined the initial round would emphasize biosciences — particularly neurosciences — and cybersecurity.
The committee dedicated about $4 million for the first round. It received 10 proposals and likely will vote on winning projects in November.
A shifting culture
Gov. Terry McAuliffe has been a major proponent of efforts to develop the biosciences in Virginia. He has been willing to jump into major projects that can attract research dollars. In 2016, he was named the “Governor of the Year” by the Biotechnology Innovation Organization, a trade association representing biotech companies, academic institutions and related groups in the U.S. and more than 30 other nations.
In addition to a focus on fueling early-stage companies, the state has provided funding to help develop major collaborative research programs, such as the Inova Center for Personalized Health in Fairfax County and the Virginia Tech Carilion Research Institute in Roanoke.
On a whole, some of the larger efforts to raise Virginia’s life sciences profile, like ICPH, are in their early stages, says Gallagher of Virginia Bio. “The results are just beginning to bubble up to the surface,” he says. “[The Catalyst] has attracted a lot of attention from outside the state, even though they haven’t really shown all their fruits yet. But the governor has really raised the profile of the industry in the last four years, highlighting these forward-looking initiatives to accelerate collaborative research. It makes a lot of sense and he has a good story to tell.”
Technology startup Astraea plans to expand its Charlottesville operations and create 31 jobs.
The company expects to invest $1 million on the project, according to Gov. Terry McAuliffe.
Founded in September 2016, Astraea applies advanced data science and machine learning to image and sensor data gathered from earth-observing satellites. The goal is to identify and predict real-time changes in land use, traffic patterns, land and water quality and environmental trends.
Virginia competed against California, Colorado and Montana for the project.
“Charlottesville, and Virginia in general, are deep pools of data-science talent, which is critical to our success,” Brendan Richardson, Astraea CEO and co-founder, said in a statement. “Machine learning (ML) and artificial intelligence (AI) are transforming industries across the globe, and Charlottesville is an emerging leader in M.L. and predictive analytics which are the underpinning for A.I. We have a wealth of data- science talent here and it’s easy to recruit talent to Charlottesville given its strong reputation in this area and the amazing quality of life in Central Virginia.”
Astraea is eligible to receive $1,000 per job, up to $31,000, from the Virginia Jobs Investment Program, which provides consultation and funding for companies creating new jobs or experiencing technological change.
Bank of McKenney and Citizens Community Bank announced Tuesday the merged bank will adopt the name Touchstone Bank.
The merger, which is expected to be complete by the end of the year, will create a bank based in Prince George County. It will have 13 offices in Chesterfield, Dinwiddie, Prince George, Brunswick and Mecklenburg counties and Franklin, Halifax and Vance counties in North Carolina.
The combined bank will have assets of $441 million based on financial reporting as of June 30.
IT consulting firm Acuity Inc. of Reston announced Wednesday that it has appointed Danny Toler as senior vice president, diplomatic portfolio and cyber practice.
Toler previously was acting assistant secretary for the Department of Homeland Security’s Cybersecurity and Communications office, where he led the implementation of the Cybersecurity Act of 2015.
Before joining DHS, Toler spent 12 years at the State Department, holding roles including director of the Office of Enterprise Network Management and division chief of Network Engineering and Design, where he transitioned the State Department into a new mode of operations and managed a network of over 300 locations worldwide.
Landos Biopharma Inc. announced Thursday it has raised $10 million in financing from life sciences investment management firm Perceptive Advisors.
Blacksburg-based Landos is a biopharmaceutical company focused on improving treatments for autoimmune diseases. Perceptive Advisors, based in New York, will serve as the exclusive investor for the Series A round.
The company plans to partner on operational efforts with Boston-based Xontogeny LLC, a life sciences accelerator.
Landos was founded by serial entrepreneur and innovator Josep Bassaganya-Riera. The company’s mission is to accelerate the development of safer, more effective therapeutics for painful and debilitating autoimmune diseases including Crohn’s disease and ulcerative colitis.
Landos will focus its development efforts in a novel target pathway that has shown promise for the treatment of autoimmune diseases by engaging a unique mechanism of action that exerts potent anti-inflammatory effects.
Discount retailer Dollar Tree Inc. named a new CEO Monday as part of its planned leadership succession.
Gary Philbin, who had been the enterprise president at Dollar Tree, was promoted to president and CEO of the Chesapeake-based company and appointed to its board of directors.
Bob Sasser, 65, is now the executive chairman. Macon Brock, a co-founder of the company who had been chairman of the company, will remain on the board and become chairman emeritus.
Sasser, who has been president and CEO since 2004, joined Dollar Tree in 1999 as chief operating officer. He was promoted to president and chief operating officer in 2001.
During Sasser’s tenure, Dollar Tree has grown from a company with 18,000 employees; fewer than 1,200 stores and less than $1 billion in annual sales to a Fortune 150 company with nearly 180,000 employees and more than 14,500 stores. For 2017, revenues are projected to exceed $22 billion.
The company completed six acquisitions during Sasser’s tenure, including the $9.1 billion acquisition of Family Dollar Stores Inc. in 2015. Dollar Tree’s market capitalization has grown from approximately $2.3 billion to $19.8 billion during this time.
Philbin, 60, joined Dollar Tree in 2001 as senior vice president of stores. He was promoted to chief operating officer in 2007 and became president and chief operating officer in 2013.
In July 2015, Philbin assumed the role of president and chief operating officer of Family Dollar upon its acquisition by Dollar Tree. In January, he was promoted to enterprise president with responsibility for DollarTree and Family Dollar.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
Cookie
Duration
Description
cookielawinfo-checkbox-analytics
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional
11 months
The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance
11 months
This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
viewed_cookie_policy
11 months
The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.