Governor Doyle Announces $250,000 Technology Loan to Renewegy, LLC in Winnebago County

For Immediate Release: January 7, 2009
Contact: Tony Hozeny, Department of Commerce, 608-267-9661

MADISON - Governor Jim Doyle today announced that Renewegy, LLC in Oshkosh will receive a $250,000 Technology Venture Fund loan.

"Renewegy is exactly the type of company our state should be investing in - companies that are developing innovative solutions that will free our state and country from its dependence on foreign oil," Governor Doyle said. "Supporting companies like Renewegy will create jobs and drive our economy while making our world cleaner and more secure."

Renewegy, LLC was founded in 2008 by three former executives from MotoTron Corporation, a wholly owned subsidiary of Brunswick Corporation and will bring high efficiency hybrid propulsion systems, components and services to its customers. The company will use the loan to purchase equipment. The total project investment is $2,670,000. This project could create up to 60 new positions.

For more information on Commerce programs and services, contact the Commerce Area development manager at http://commerce.wi.gov/BD/BD-AreaDevManagers.html.

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