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Rhode Island Commerce Board of Directors Approves Investments in Innovation and Ocean Tech

Published on Tuesday, April 29, 2025

PROVIDENCE, R.I. — On Monday, the Rhode Island Commerce Corporation Board of Directors approved new investments to accelerate product innovation and expand high school career technical education in ocean technology. 

 

“We’re making Rhode Island a destination for innovation,” said Governor Dan McKee. “These new investments help give our state the competitive edge to attract and support businesses while creating a pipeline of local talent to fill the good-paying jobs we create as a result.” 

 

“Investing in key industries like these will help build a stronger and more resilient economy,” said Secretary of Commerce Liz Tanner. “By supporting innovation and empowering workers, we are laying a strong foundation for sustainable growth, new opportunities and long-term prosperity in Rhode Island.” 

 

Research & Development Support

Four Innovation Vouchers were approved totaling $282,921. The Innovation Voucher Program provides Rhode Island small businesses with grants of up to $75,000 to fund research and development. Recipients include:

 

  • American Cord and Webbing Co., Inc. ($74,973) – to develop tactical belt webbing and a metal quick-release buckle for military and law enforcement use. 

 

  • Crewless Marine Acoustics, LLC ($59,480) – to develop and manufacture an affordable hydrophone sensor with acoustic data fusion software. 

 

  • Electro Standards Laboratory, Inc. ($75,000) – to prototype the EtherCap, a broadband network switch with integrated supercapacitor power backup. 

 

  • Vatn Systems, Inc. ($73,468) – to advance wireless charging systems for autonomous underwater vehicles. 

 

“At ACW, innovation is the foundation of our business. We are proud to be recognized with this Innovation Voucher from Rhode Island Commerce which will help us accelerate the development of new military-grade hardware and advanced textile solutions, supporting critical defense, safety, and tactical applications,” said Jordan Krauss, President of American Cord and Webbing Co., Inc. 

 

“We are deeply grateful to Rhode Island Commerce for awarding Crewless Marine this Innovation Voucher, which will enable us to scale the manufacturing of our hydrophones and acoustic sensor systems, positioning us to compete in the global maritime industry from Rhode Island’s vibrant blue tech ecosystem,” said Steven Bordonaro, Co-founder of Crewless Marine.

 

“As a Rhode Island technology and manufacturing company, Electro Standards Laboratories is very excited to receive an Innovation Voucher from Rhode Island Commerce which will enable the development and initial manufacture of our EtherCap product which integrates an internet network switch with supercapacitor energy storage to deliver maintenance free and reliable internet connection, including in rural and remote underserved areas, home and business networks,” said Raymond Sepe Jr., Ph.D., co-Principal and Chief Technology Officer of Electro Standards Laboratories.  

 

“Vatn extends its sincere gratitude to Rhode Island Commerce for its support which will enable us to develop new capabilities that will help government, aquaculture, green energy and scientific research users integrate more underwater technology creating value, jobs and opportunities through long-term deployments of subsurface systems operating independently and autonomously,” said Dan Hendrix, Chief Revenue Officer, Vatn Systems, Inc. 

 

Ocean Tech Workforce Investments

A $94,589 grant was approved to launch the Blue Youth Program led by Tribe Academy LLC, doing business as Courage Builder, in collaboration with Times2 STEM Academy in Providence, the Community College of Rhode Island, and several local ocean technology companies. The initiative will provide externships for up to 150 high school students and support the development of updated engineering curriculum aligned with industry needs.  

 

The Blue Youth Program is a component of the state’s Pathways in Technology Early College High School (P-TECH) initiative, which promotes career readiness and workforce development collaboration between high schools, CCRI, and industry partners.  

 

“Courage Builder is grateful to the RI Commerce Board for investing in this unique and innovative program. We are thrilled to engage a broad set of education and blue economy partners and hope this program will serve as a model for other academic-industry collaborations to cultivate the skills and experiences required for our future blue economy workforce,” said Nishita Roy-Pope, CEO & Founder, Courage Builder.

 

For more information on these initiatives, visit CommerceRI.com. 

 

 

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