The Development Funding Panel will review the Strategic Fund and laboratory grant applications at the end of this month

The Delaware Council on Financing for Development has a packed agenda at its meeting in late June.

The panel that approves grants under the state programs will meet at 9 a.m. on July 27 at the Buena Vista Conference Center south of New Castle to consider a number of applications under the state programs. Grants are generally linked to employment and the applicants’ total investment.

The state has new programs, including a laboratory space grant that addresses the shortage of such space in Delaware.

Clean hydrogen startup Versogen, based near Wilmington, is seeking a $600,000 strategic grant after receiving equity funding for its research and development work. Among Versogen’s investors is Wilmington-based Chemours.

Pharmaceutical start-up Prelude Therapeutics, based near Wilmington, is seeking $960,000 for a Graduated Lab Space grant. Prelude has over 100 employees and is developing potential cancer drugs.

Other requests

  1. Compact Membrane Systems, Inc. – Applicant is requesting $50,000 from the Delaware Strategic Fund Delaware Technical Innovation Program for a small business innovation research grant. The company is based near Wilmington.
  2. Applicant: Advanced Materials Technologies, Inc. – The North Wilmington applicant requests an adjustment to his Graduated Lab Space grant in the amount of $247,600.
  3. Applicant: Analytical Biological Services, Inc. – The Wilmington-based candidate is requesting an adjustment to his $400,000 Graduated Lab Space grant.
  4. Claimant: City of Smyrna – Review and approve a request to the State Site Preparation Fund.

The board will also consider a request from the Pilot School, North Wilmington, for up to $8 million to refinance the revenue bonds. The state bears no risk from the bonds sold to investors, but must approve the application. The private school focuses on students with learning disabilities.

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