RavenBrick to Build Automated Manufacturing PlantSeptember 6th, 2011 | Category: Industry News
A company with 12 employees says it plans to expand to more than 200 employees by 2015, through the planned construction of a new automated plant. Denver-based RavenBrick announced that it has signed a letter of intent with Saridea Engineering to build a high-speed automated production line for its RavenWindow technology. When complete the line will produce five million square feet of product annually. The facility will be complete mid-2012.
“RavenBrick has a dynamic product offering that can change the way people view their windows and glass and we needed an operation worthy of that, so we are confident that Saridea will build a world class manufacturing line,” says Alex Burney, CEO of RavenBrick. “In addition the positive effect on Denver and the ability to keep great engineering jobs in town was an absolute bonus.”
“This is a significant project for our company and it means we will have to add jobs,” says Abhishek Reddy, co-owner of Saridea Engineering.
RavenBrick recently received a $275,000 loan from the City and County of Denver for job creation, in addition to a $700,000-plus loan from the Governor’s Energy Office for entrepreneurship and job creation. The company also has raised $6 million in angel capital and is currently raising a venture capital round of another $6 million.