Adaptive Materials, Ann Arbor SPARK Host Alternative Energy Forum with U.S. Assistant Secretary of Commerce John Fernandez

ANN ARBOR, Mich., March 31 /PRNewswire/ -- Alternative energy leader Adaptive Materials, a manufacturer of solid oxide fuel cells, with Ann Arbor SPARK, the driving force of business acceleration and growth in the region, hosted U.S. Assistant Secretary of Commerce for Economic Development John Fernandez for a business forum today.  More than 20 alternative energy leaders from throughout Ann Arbor and surrounding communities participated in the forum.

During the business forum, moderated by Ann Arbor SPARK CEO Michael A. Finney, participants shared with Assistant Secretary Fernandez their business challenges and opportunities.  Funding and business development were key topics that forum participants discussed throughout the 90-minute roundtable.

"The current funding environment isn't ideal for second stage companies, like Adaptive Materials, that are working towards commercializing their technology," offered Michelle Crumm, the company's chief business officer.  "Government programs are geared towards very early stage companies or well-established companies, and there's a void for companies that are in the middle.  Filling the funding gaps can create better opportunities for business growth and success."

For Finney, the business forum provided an opportunity to show how Ann Arbor SPARK's work with entrepreneurs, including several in attendance, positively impacts company formation and growth.  "Economic development organizations like Ann Arbor SPARK are an important catalyst to overall economic success in a region," Finney explained.  "Financial and other support for our work at the federal level enable Ann Arbor SPARK to help more businesses thrive."

As the Administrator of the U.S. Department of Commerce's Economic Development Administration (EDA), Fernandez is charged with leading the federal economic development agenda by promoting innovation and competitiveness, preparing American regions for growth and success in the global economy.

"Roundtable forums like this one allow for an open dialogue where the voice of the business owner can be heard, and their feedback can be taken back to Washington where it can directly impact change," Fernandez said.  "Having the chance to connect with business owners provides a valuable opportunity to gain a better understanding of how the federal government can assist in business growth."

About Adaptive Materials, Inc.

Based in Ann Arbor, Mich., Adaptive Materials, Inc. is the first company to develop, demonstrate and deliver a portable, affordable, and fuel flexible solid oxide fuel cell (SOFC) system.  The company offers 50, 150 and 250-watt fuel cell systems that are powered by globally available and energy dense propane, butane and LPG.  Adaptive Materials' fuel cell system provides portable power to the United States Armed Forces as well as industries including leisure, remote monitoring, and medical devices.  For more information, visit www.adaptivematerials.com.

ABOUT ANN ARBOR SPARK

Ann Arbor SPARK, a non-profit organization, is the driving force in establishing the Ann Arbor region as a destination for business expansion, retention, and location by identifying and meeting the needs of business at every stage, from startups to large organizations.  Ann Arbor SPARK represents all communities in the Washtenaw County. Ann Arbor SPARK collaborates with business, academic, government, and community investor partners including the University of Michigan, Eastern Michigan University, Washtenaw Community College, Michigan Works!/ETCS, Washtenaw County, the City of Ann Arbor, the Bank of Ann Arbor and the Michigan Economic Development Corporation.  For more information, please call (734) 761-9317 or visit www.AnnArborUSA.org.

SOURCE Ann Arbor SPARK