GENEDGE ALLIANCE Announces Innovation Commercialization Grant Award Totaling over $200K to Bristol Compressors International

MARTINSVILLE, Va.--(BUSINESS WIRE)--GENEDGE ALLIANCE, in cooperation with The Virginia Tobacco Indemnification and Community Revitalization Commission (TIC), has awarded a grant totaling more than $200,000 to fund an Innovation Commercialization Project to accelerate high technology economic growth and support job increases for the region. Bristol Compressors International Incorporated designs and manufactures compressors for residential and light commercial air conditioning, heat pump and refrigeration applications across global markets. Headquartered in Bristol, Va., the company serves original equipment manufacturers and wholesale distributors on six continents and in more than 50 countries around the world.

“GENEDGE is very pleased to assist Bristol Compressors in targeting commercially viable markets for their technology”

The funding is targeted toward expanding compressor technology business growth in both international and domestic markets. The new technology being developed is focused on increasing energy efficiency levels, while also raising compressor reliability performance to meet new customer demands in very hot geographic locations.

“GENEDGE is very pleased to assist Bristol Compressors in targeting commercially viable markets for their technology,” said Bill Donohue, the Vice President for GENEDGE ALLIANCE. “This is a great example of developing new technology and capabilities to grow a Virginia-based company in global markets, while also delivering environmental improvements.”

Bristol Compressor’s VP of Engineering, Scott Hix said, “Bristol Compressors appreciates being part of this program, which supports our effort to deliver a more environmentally sustainable product and maintain our market leadership position against new Indian and Chinese-based competitors. At the same time, our new compressor design will allow us to expand our domestic business as well. Ultimately we expect this growth to translate into new jobs for our community.”

"Like so many American manufacturers, Bristol Compressors has been challenged by new competitors around the world. Bristol’s leadership has worked diligently to discover new opportunity areas and meet their customers’ needs with new, advanced solutions. They also understand the importance of creating more environmentally friendly products that will serve to benefit everyone. I am glad that the Tobacco Commission and GENEDGE ALLIANCE are able to assist with their continued growth," stated Joseph P. Johnson, Jr., TIC Board Member. He is also a member of the Virginia House of Delegates, and currently represents the 4th district in the southwest part of the state, including the city of Bristol and parts of Smyth and Washington Counties.

About the Innovation Grant program: The GENEDGE ALLIANCE Innovation Grant helps qualifying manufacturing and technology businesses, which fall within counties throughout the Virginia Tobacco Commission region, bring new ideas and new products to market. For more information regarding the grant, please view the press release here of 2012 GENEDGE ALLIANCE ANNOUNCES INNOVATION GRANT UPDATE.

About GENEDGE ALLIANCE: GENEDGE helps Virginia industries generate new market innovations, increase their performance, and improve their competitive position. As the National Institute of Standards and Technology Manufacturing Extension Partnership (NIST MEP) affiliate for the Commonwealth of Virginia, GENEDGE provides a structured, innovation based commercialization program for companies interested in the innovation grant. For more information on GENEDGE ALLIANCE please visit www.genedge.org.

About the Virginia Tobacco Commission: The Tobacco Indemnification and Community Revitalization Commission (Virginia Tobacco Commission) is a 31-member body created by the 1999 Virginia General Assembly. Its mission is the promotion of economic growth and development in tobacco dependent communities, using proceeds of the national tobacco settlement. For more information, visit www.tic.virginia.gov.