News Archives - Rockville Economic Development, Inc

World Health Organization deploys PharmaJet’s needle-free injection system, Tropis, in polio eradication campaign

PharmaJet Tropis® Needle-free Delivery System used to immunize an additional 1.5 million children in latest WHO campaign.

GOLDEN, Co., March 13, 2025–(BUSINESS WIRE)–PharmaJet^®, a company that strives to improve the performance and outcomes of injectables with its enabling needle-free injection technology, today announced that their Tropis intradermal (ID) delivery system was used in the latest World Health Organization’s (WHO) polio eradication campaign in Pakistan in February 2025. The supplemental immunization activity (SIA) campaign for children between 4 and 59 months of age was implemented in two regions in the Quetta block (Pishin, Quetta, Kila Abdullah, and Chaman) and Karachi (Central Karachi, East, East-Gujro, Keamari, Korangi, Malir, and West). Tropis was used to deliver fractional dose inactivated polio vaccine (fIPV) in parallel to oral polio vaccine (OPV) administration as part of a WHO recommended strategy to boost humoral immunity.

Evidence from Tropis use in poliovirus campaigns and routine immunization in Pakistan,¹ Somalia,² and Nigeria,³ demonstrated improved coverage, acceptability, speed of administration, and cost savings. Previous WHO campaigns that vaccinated over 10 million children in Pakistan and Somaliashowed that Tropis is an effective and preferred solution for polio immunization campaigns that can help increase campaign coverage by over 18%.¹ In addition, a recent randomized controlled implementation study in Nigeria⁴demonstrated that among those vaccinated with Tropis, IPV2 coverage was more than 11% higher compared to those treated with the Standard of Care (SoC). The study team also found potential for up to 47% decrease in total immunization costs and 95% of healthcare workers expressed a preference for Tropis compared with the SoC. Tropis is the first and only needle-free ID delivery technology to achieve WHO prequalification.

“We are pleased to continue our partnership with the World Health Organization to eradicate polio,” said Paul LaBarre, Vice President Global Business Development, PharmaJet. “The Tropis needle-free system has been shown to be very effective and affordable in campaigns and routine immunizations, protecting nearly 12 million children against poliovirus. There is still a lot of work to do, and we are committed to achieving eradication goals so that no child suffers from paralytic polio.”

¹Daly, C et al, Needle-free injectors for mass administration of fractional dose inactivated poliovirus vaccine (fIPV) in Karachi, Pakistan: A survey of caregiver and vaccinator acceptability, Vaccine, Volume 38 Issue 8, 18 February, 2020, Pages 1893-1898

²Nouh, K et al, Use of a fractional dose of inactivated polio vaccine (fIPV) to increase IPV coverage among children under 5 years of age in Somalia, Springer Nature Volume 2 article number 16 (2024)

³Biya, O et al, Notes from the Field: House-to-House Campaign Administration of Inactivated Poliovirus Vaccine — Sokoto State, Nigeria, November 2022, CDC Morbidity and Mortality Weekly report, November 24, 2023 / 72(47);1290–1291

⁴ https://pharmajet.com/pharmajet-announces-implementation-study-results-increased-coverage-cost-savings-and-preference-for-routine-polio-immunization-with-tropis-id-needle-free-delivery/

⁵ Global Polio Eradication Initiative, who we are: https://polioeradication.org/who-we-are/

About PharmaJet

PharmaJet, located in Rockville, Maryland, has a mission to improve the performance and outcomes of injectables with enabling technology that better activates the immune system. Pharmajet is committed to helping partners realize their research and commercialization goals while making an impact on public health. For more information or partnering with PharmaJet visit https://pharmajet.com or contact PharmaJet here. Follow Pharmajet on LinkedIn.

Link to original press release: https://www.businesswire.com/news/home/20250313388571/en/WHO-Deploys-Tropis-PharmaJets-Needle-free-Injection-System-in-Latest-Polio-Eradication-Campaign-in-Pakistan

Montgomery County Government, State and Local Partners Announce Coalition to Support Maryland Businesses and Employees Affected by Federal Budget Cuts

This Public-Private Initiative will include the launch of a microsite compiling a list of resources and tools available to businesses and employees.

Montgomery County, Md., Mar. 24, 2025 – Montgomery County officials and key partners announced the formation of a strategic Public-Private initiative aimed at strengthening the local economy and supporting local businesses and employees affected by recent federal budget cuts.

The coalition, Mobilize Montgomery, includes Montgomery County Government, Maryland Department of Labor, WorkSource Montgomery, Montgomery County Economic Development Corporation, Montgomery County Chamber of Commerce, the City of Gaithersburg, the City of Rockville, Rockville Chamber of Commerce, the Maryland Women’s Business Center and Rockville Economic Development, Inc, as well as additional local chambers.

“Montgomery County has long been home to thousands of federal workers and businesses that rely on federal contracts, and in this time of cuts and chaos from the federal government, those impacts can ripple through our economy,” said County Executive Marc Elrich. “Through Mobilize Montgomery, we are collaborating with private and public partners to provide resources and information to our residents. We are working together to help businesses stay open, keep people employed, and strengthen our local economy.”

Through its newly created microsite, www.mobilize-montgomery.com, the coalition will serve as a centralized resource hub ensuring that businesses, employees, and residents have access to critical information and support they need during this challenging time. Designed to be a one-stop shop for resources, the microsite will feature webinars, job posting websites and business incentives available to the public. Additionally, the microsite will allow local businesses to express their interest in participating in relevant events, as well as give interested employees the option of being notified of updated resources and upcoming events.

“The drastic federal funding cuts and layoffs from the Trump Administration are directly impacting our residents and forcing contractors and small businesses to scrap projects and announce layoffs due to unpaid invoices and the elimination of federal support,” said Montgomery County Council President Kate Stewart. “Montgomery County is home to more than 77,000 dedicated and hard-working federal employees, and County leaders are committed to supporting our residents, federal contractors, and businesses during these uncertain and economically challenging times. This new collaboration among government and business leaders and workforce development organizations will provide guidance, resources, and support to help deal with the impact that these draconian federal cuts are having on our federal contractors and local businesses that fuel our economic engine.”

As Montgomery County braces for additional federal budget cuts, Mobilize Montgomery is committed to working with Maryland Governor Wes Moore to provide support to our businesses and workforce, ensuring that Maryland’s economy remains resilient and vibrant.

For more information about the initiative or to access available resources, please visit www.mobilize-montgomery.com.

About Montgomery County Government

Montgomery County, Maryland, is the largest county in the State of Maryland with over 1.1 million residents. Bordering the District of Columbia, and directly across the Potomac River from Northern Virginia, Montgomery County is home to 18 federal agencies including the National Institutes of Health (NIH), the Food & Drug Administration (FDA), the National Institute of Standards and Technology (NIST) as well as the headquarters to over 700 companies. The county offers a unique ecosystem rich in talent, groundbreaking discoveries, and a vibrant community dedicated to sustainability and bold thinking. With 40% of residents speaking a language other than English and a third of the population born outside the U.S., Montgomery County embraces diversity. This inclusive environment fosters a rich tapestry of perspectives, providing an ideal location for businesses to thrive, innovate and flourish.

Rockville Ranks 9th Most Ethnically Diverse City in the U.S. for 2025

Rockville Makes Top 10 List of Most Diverse Cities in the Country

In order to determine the most ethnically diverse places in America, WalletHub compared 501 of the most populated U.S. cities across three key metrics: ethnoracial diversity, linguistic diversity, and birthplace diversity.

Since 2018, Rockville has consistently placed in the top 20 most ethnically diverse cities in the U.S., ranking in 5th place in the small cities category, 9th in linguistic diversity, and 9th overall for 2025. Out of over 500 cities, Rockville is one of four in Montgomery County to place in the top 10 overall this year.

Most Culturally Diverse Cities in the U.S.

Germantown, MD
Jersey City, NJ
Gaithersburg, MD
Silver Spring, MD
Kent, WA
New York, NY
Spring Valley, NV
Federal Way, WA
Rockville, MD
Oakland, CA

“Living in an ethnically diverse city can be an economic benefit, as people bring a wide range of skillsets and approaches to solving problems from their own cultures and national origins. Residents can also establish unique types of businesses, such as restaurants serving cultural dishes. People who live in ethnically diverse cities have the opportunity to learn a lot about people different from themselves, which is not only an enriching experience but also a good way to break down walls of prejudice.” -Chip Lupo, WalletHub Analyst

View WalletHub’s full 2025 report: https://wallethub.com/edu/cities-with-the-most-and-least-ethno-racial-and-linguistic-diversity/10264

Maryland Women’s Business Center Welcomes Karen Sippel as New Managing Director

Sippel’s career is rooted in supporting small businesses, particularly women-owned enterprises.

Rockville, Md., Feb. 4, 2025 –The Maryland Women’s Business Center (MWBC), a program of Rockville Economic Development, Inc. (REDI), is pleased to announce the appointment of Karen Sippel as its new Managing Director effective February 4, 2025. With a career spanning entrepreneurship, nonprofit leadership, and strategic communications, Sippel brings a wealth of experience to MWBC as it continues to empower entrepreneurs across Maryland.

“We are thrilled to welcome Karen to MWBC,” said Cynthia Rivarde, CEO of Rockville Economic Development, Inc. “Her experience designing and leading training program for women entrepreneurs, combined with her background in marketing, nonprofit management, and fundraising, makes her a tremendous asset to our organization and the businesses we serve.”

Sippel’s career is rooted in supporting small businesses, particularly women-owned enterprises. As co-founder and managing director of the African Women Entrepreneurship Cooperative (AWEC), she led a capacity-building program that empowered 200 business owners annually across 52 African countries to level-up their skills, increase revenue, and hire more employees. She has also founded and operated multiple businesses, including a professional services firm and a wholesale bakery, the latter of which she opened after earning a pastry arts certificate from a Washington, D.C.-area culinary school.

In addition to her work in entrepreneurship, Sippel has held senior leadership roles in communications, marketing, and fundraising at tech startups, nonprofits, and global public affairs firms. She has served as a senior executive at The Center for Global Enterprise, Personal (a startup focused on online privacy that was later acquired by Digi.Me), and major public relations and marketing agencies such as Porter Novelli, Merritt Group, and Burson-Marsteller.

With a deep passion for entrepreneurship, Sippel is eager to lead MWBC into its next chapter. “Coming from a multi-generational family of business owners, I have a deep affinity for those who take the leap to start and grow their own businesses,” said Sippel. “I understand the challenges entrepreneurs face, and I’m honored to step into this role at MWBC to continue supporting small businesses across Maryland.”

Sippel holds a Bachelor of Arts degree in history from the University of Virginia. She also serves as a mentor to women entrepreneurs, providing guidance through AWEC’s year-long capacity-building program.

About Maryland Women’s Business Center

Maryland Women’s Business Center (MWBC) is a signature program of Rockville Economic Development, Inc. MWBC helps entrepreneurs and small businesses owners across Maryland’s Capital Region start, sustain, and grow their companies. Through workshops, individual counseling, facilitated peer group support, special resources, and access to capital, MWBC annually helps over 1,500 entrepreneurs gain the skills, connections, and confidence necessary to navigate entrepreneurship. Learn more at marylandwbc.org.

Media Contact
Amanda Bosland, Marketing & Communications Director, REDI – amanda@rockvilleredi.org

Rockville’s metropolitan area named one of the best-performing in the U.S. for 2025

The Milken Institute's 2025 Best Performing Cities index ranks a total of 403 cities split between small and large cities

Article originally published by Bethesda Magazine on January 20, 2025.

The metropolitan area including Silver Spring, Rockville and Frederick ranked No. 123 out of 200 large cities included in The Milken Institute’s 2025 Best Performing Cities index after making small improvements in employment and wages, according to a report released Jan. 14 from the nonpartisan think tank.

The area’s 2025 ranking is an improvement from the 2024 ranking at No. 147, but a decrease from the No. 100 ranking in 2023. The metropolitan area, which includes Montgomery and Frederick counties, ranked in the fourth tier out of five of the index’s Best Performing Cities.

According to its website, the Milken Institute’s 2025 Best Performing Cities index ranks a total of 403 cities, split between small and large cities, using 13 metrics, including labor market conditions, high-tech industry growth and access to economic opportunities, to create its annual ranking.

According to the institute’s data, the area including Silver Spring, Rockville and Frederick saw a 1.3% increase in job growth from 2022 to 2023. The area also saw a 4.8% wage increase from 2022 to 2023. Short-term job growth from July 2023 to July 2024 was 0.4%.

When considering access to economic opportunity, 95.5% of households in the area have broadband internet and 70% have affordable housing, according to the institute’s data.

The neighboring Washington, D.C., metro area ranked No. 62 among large cities in 2025, an improvement from No. 134 in 2023 and No. 98 in 2024. The top-ranked large city was Raleigh, North Carolina, followed by the Ogden-Clearfield area and Salt Lake City, both in Utah. The top small cities included Gainesville, Georgia, and St. George in Utah.

Link to article: https://bethesdamagazine.com/2025/01/20/silver-spring-rockville-ranked-best-performing-cities/

Comstock announces affordable housing project for Rockville development site

The property, located adjacent to Metro’s Rockville Station on the Red Line, will be branded as Momentum @ Rockville Station and is slated to deliver well over 100 affordable housing units to the community.

Reston, Va., Nov. 20, 2024 – Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock” or the “Company”), a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region, announced today that it is partnering with SCG Development Holdings, LLC (“SCG”) to form a joint venture that will develop an affordable housing project located on land currently owned by Comstock at 41 Maryland Avenue in Rockville, Md. (“Comstock 41”). The property, located adjacent to Metro’s Rockville Station on the Red Line, will be branded as Momentum @ Rockville Station and is slated to deliver well over 100 affordable housing units to the community.

“The City of Rockville is working to expand housing options to help support the everyday heroes of our community, including teachers, firefighters, police offices, health professional staff, and other people who help our city, county, and state run,” said Monique Ashton, Mayor of Rockville. “We look forward to working with this joint venture [Comstock and SCG] to create more high-quality, transit-oriented, affordable housing that provides a safe place for residents to thrive.”

SCG is a respected leader in affordable housing development that specializes in community-centered housing solutions. They have been involved in the successful development of more than 100 properties across the United States, including Momentum @ Shady Grove, a similar affordable housing project developed by SCG and Comstock that sits adjacent to the Shady Grove Metro station and was delivered in 2020.

Comstock and SCG entered into a definitive purchase agreement for Comstock 41, which was acquired by a subsidiary of Comstock in late 2023 for approximately $1.5 million. Pursuant to the purchase agreement, Comstock and SCG will enter into an operating agreement and a development agreement, under which Comstock will provide development management services to the joint venture. The Company will also be entitled to provide property management services once the development is ready for occupancy. The Comstock 41 transaction is expected to close upon approval of the construction plans by the City of Rockville. Financing will be arranged by SCG once the plans are approved.

“SCG is excited to announce the launch of Momentum at Rockville Station, which is currently in the planning and entitlement stages,” said Steven P. Wilson, President, SCG Development. “The development will provide much-needed affordable housing that is close to retail and office space and walkable to the Rockville Metro Station. As we navigate the planning and approval process, we are fully committed to collaborating with Comstock and local government officials to ensure the project’s success.”

Comstock and SCG will work closely together with the City of Rockville to secure approvals needed to maximize the number of affordable units the joint venture will deliver to the heart of Rockville Town Center. This adheres to the project’s vision to meet the City of Rockville’s growing housing needs and underscores the ongoing commitment of Comstock and SCG to provide accessibility to affordable, transit-oriented housing options that help foster community growth.

“We are thrilled to once again partner with SCG to deliver more high-quality, transit-oriented, affordable housing to Montgomery County’s fast-growing population,” said Christopher Clemente, Comstock’s Chairman and Chief Executive Officer. “Set alongside BLVD Forty Four and BLVD Ansel, Momentum @ Rockville Station will further expand Comstock’s footprint in the vibrant Rockville Town Center neighborhood. We’re helping to address the need for affordable transit-oriented housing.”

About Comstock

Founded in 1985, Comstock is a leading asset manager, developer, and operator of mixed-use and transit-oriented properties in the Washington, D.C. region. With a managed portfolio comprising approximately 10 million square feet at full build-out and including stabilized and development assets strategically located at key Metro stations, Comstock is at the forefront of the urban transformation taking place in the fastest-growing segments of one of the nation’s best real estate markets. Comstock’s developments include some of the largest and most prominent mixed-use and transit-oriented projects in the mid-Atlantic region, as well as multiple large-scale public-private partnership developments. For more information visit https://comstock.com/

View original press release: https://ir.comstockcompanies.com/news/news-details/2024/Comstock-Announces-Affordable-Housing-Project-for-Rockville-Development-Site/default.aspx

Rockville Economic Development, Inc. seeks Managing Director for Maryland Women’s Business Director

The Maryland Women's Business Center hosts more than 120 workshops a year, interacting with more than 1,600 clients through its various services and programs.

Rockville Economic Development, Inc. (REDI) is seeking a qualified and experienced candidate for the position of Managing Director for the Maryland Women’s Business Center (MWBC).

The Managing Director for the Maryland Women’s Business Center reports directly to the Chief Executive Officer for the Rockville Economic Development, Inc. (REDI). The MWBC is funded in part through a Cooperative Agreement with the U.S. Small Business Administration, as well as other Federal and local funding sources, including hosting more than 120 workshops a year, interacting with more than 1,600 clients through its various services and programs. The Managing Director, responsible for overseeing an annual budget of $1M and leading a staff of seven, plus other contractors and volunteers, will facilitate the daily operations of the Maryland Women’s Business Center (MWBC) in Rockville, Bowie, and a satellite location in Frederick.

Details of the position responsibilities and job requirements are included in the job description (PDF) posted here: Managing Director – Maryland Women’s Business Center job description.

To apply, qualified candidates should submit their résumé with cover letter indicating interest via email to HR@rockvilleredi.org. Application review begins on December 20, 2024.

AstraZeneca invests $3.5 billion in R&D and manufacturing in the United States

Investment includes $300 million manufacturing facility in Rockville set to open in 2026

Article originally published by CoStar on November 12, 2024

AstraZeneca plans to invest $3.5 billion by the end of 2026 to expand its research and manufacturing operations across the United States.

The United Kingdom-based pharmaceutical giant said Tuesday its capital commitment to the expansion includes $2 billion in new investment.

“By expanding our R&D and manufacturing footprint, we aim to enhance the development of cutting-edge therapies and support the United States leadership in healthcare innovation,” AstraZeneca’s CEO Pascal Soriot said in a statement.

The company’s plan to expand comes as demand in the U.S. for life science space, including lab, research and development, and other biotech facilities, shows signs of increasing. The sector had surged early in the pandemic then slowed dramatically as capital markets tightened and venture capitalists looked elsewhere to make investments.

With the recent addition of 3 million square feet of life science space to the sublease market, the sector’s overall availability is 30% and rents are down 9%, according to JLL’s recently released 2024 Life Sciences Real Estate Perspective and Cluster Analysis.

The company said its expansion plans include an R&D facility at Kendall Square in Cambridge, Massachusetts; a biologics manufacturing facility in Maryland; and properties involved in cell therapy manufacturing on the West and East coasts and specialty manufacturing in Texas.

AstraZeneca’s exact plans, including how much commercial property it would add, have not been disclosed in detail. In February, the company said it would invest $300 million in a manufacturing facility in Rockville, Maryland. It is expected to be operating by 2026.

AstraZeneca has said there is increased demand for its medicines across its work in oncology, biopharmaceuticals and rare diseases, driving a financial growth trajectory.

The move is the first step to achieving $80 billion in total revenue by 2030, it added. The company’s global media relations team did not immediately respond to CoStar News’ email request for comment.

The investment would add more than 1,000 jobs to the roughly 17,800 employees currently working across 17 research and development, manufacturing and commercial sites in 12 states, according to the firm.

Details on the healthcare property investment came the same day the company said its third-quarter total revenue grew 21% and core earnings per share were up 27% from the prior-year period.

“Growth looks set to continue through 2025,” the company said.

Link to article: https://www.costar.com/article/10531341/astrazeneca-plans-35-billion-expansion-of-research-manufacturing-operations-across-us

Amazon Invests in X-Energy to Support Advanced Small Modular Nuclear Reactors and Expand Carbon-Free Power

Investment solidifies X-energy’s leading role in commercializing SMR technology to revolutionize the nuclear industry.

ROCKVILLE, Md., October 16, 2024 – X-Energy Reactor Company, LLC (“X-energy”), a leader in advanced nuclear reactor and fuel technology, today announced a Series C-1 financing round of approximately $500 million, anchored by Amazon.com, Inc. (“Amazon”). The investment will help meet growing energy demands by funding the completion of X-energy’s reactor design and licensing as well as the first phase of its TRISO-X fuel fabrication facility in Oak Ridge, Tennessee. Additionally, the funding will support future carbon-free projects that will use X-energy’s Xe-100 advanced small modular nuclear reactors (“SMRs”). Citadel Founder and CEO Ken Griffin, affiliates of Ares Management Corporation (“Ares”), NGP, and the University of Michigan join Amazon’s Climate Pledge Fund in the financing round.

Amazon and X-energy are also collaborating to bring more than 5 gigawatts of new power projects online across the United States by 2039, representing the largest commercial deployment target of SMRs to date. The efforts will help meet growing energy demands in key locations through direct project investments and long-term power purchase agreements to help power Amazon operations. Further, X-energy and Amazon plan to establish and standardize a deployment and financing model to develop projects in partnership with infrastructure and utility partners.

The companies will initially support a four-unit 320-megawatt (“MW”) project with regional utility Energy Northwest in central Washington with the option to increase that project to 12 units and 960 MW. Amazon is immediately committing a direct investment in the Energy Northwest project to fund early development work that X-energy will perform.

“This collaboration between Amazon and X-energy is a significant step toward accelerating advanced nuclear technologies that can help us bring new sources of carbon-free energy to the grid cost-effectively and safely,” said Kevin Miller, Amazon’s Vice President of Global Data Centers. “We need smart solutions that can help us meet growing energy demands while also addressing climate change. X-energy’s technology will be integral in helping achieve this, and is an important step in Amazon’s work to achieve our Climate Pledge commitment to be net-zero by 2040.”

“Nuclear is an important source of clean and reliable power that our nation needs to meet the growing demand for energy,” said Ken Griffin, Founder and CEO of Citadel, whose affiliate is one of the lead investors in this round. “X-energy provides an impactful solution to a critical challenge – and the support Amazon, Dow, and other major corporations have provided underscores its potential and merit.”

“Amazon and X-energy are poised to define the future of advanced nuclear energy in the commercial marketplace,” said X-energy CEO J. Clay Sell. “To fully realize the opportunities available through artificial intelligence, we must bring clean, safe, and reliable electrons onto the grid with proven technologies that can scale and grow with demand. We deeply appreciate our earliest funders and collaborators, notably the U.S. Department of Energy and Dow Inc. With Amazon, Ken Griffin, and our other strategic investors, we are now uniquely suited to deliver on this transformative vision for the future of energy and tech.”

X-energy’s pioneering Xe-100 advanced small modular reactor and TRISO-X fuel are among the safest and most reliable clean energy technologies. Each reactor unit is engineered to provide 80 MW of electricity and is optimized in multi-unit plants ranging from 320 MW to 960 MW. The innovative and simplified modular design is road-shippable and intended to drive geographic scalability, accelerate construction timelines, and create more predictable and manageable construction costs. X-energy’s advanced reactor technology offers remarkable efficiency and resiliency to meet the requirements of energy-intensive data centers, allowing Amazon to align its growth and carbon-free energy goals.

X-energy is developing its initial Xe-100 plant at Dow Inc.’s UCC Seadrift Operations manufacturing site on the Texas Gulf Coast. Supported by the U.S. Department of Energy’s (“DOE”) Advanced Reactor Demonstration Program (“ARDP”), the project will be the first grid-scale advanced nuclear reactor deployed to serve an industrial site in North America, providing the site with zero-carbon emissions power and high-temperature steam. ARDP also supports X-energy’s first-in-the-nation commercial facility to exclusively manufacture TRISO fuel, which DOE calls “the most robust nuclear fuel on Earth.”

Additional Commentary
Kam Ghaffarian, Ph.D., Founder and Executive Chairman, X-energy

“The investments from Amazon, our Series C-1 funders, and valued partners like Dow and the U.S. Department of Energy underscore X-energy’s leadership in commercializing SMR technology and delivering the clean, safe, affordable, and reliable power our world needs now. Reaching this milestone is a testament to the dedication of the X-energy team and the essential energy solutions we’ve built. We remain focused on bringing our advanced reactor technology to market, enabling a future powered by sustainable, zero-carbon energy.”

Allyson Satin, Partner, Ares

“Ares is proud to further strengthen its support for X-energy and the advancement of nuclear technologies as it enters this partnership and significantly accelerates its mission to support the transition to a lower-carbon economy. Through our work together over the last two years, we are confident in X-energy’s ability to capitalize on the rapidly increasing demand for scalable clean energy sources and drive long-term, sustainable value for its stakeholders.”

Maritza Liaw, Partner, NGP

“NGP recognizes the unique contribution of nuclear energy to reliable, carbon-free, baseload electricity and industrial heat. X-energy has a world-class team, well-tested reactor and fuel design, and committed collaborators in Dow and Amazon who are both leaders in their industries. We are proud to partner with X-energy to bring advanced nuclear energy to market.”

Erik Lundberg, Chief Investment Officer, University of Michigan

“The University of Michigan has been at the forefront of the energy transition, strategically investing in a diverse portfolio of sustainable and renewable energy and other climate solutions, including utility-scale solar, renewable fuels, and sustainable infrastructure. The U-M Investment Office is proud to partner with X-energy as part of its broader commitment to transitioning to a more sustainable economy. As part of its comprehensive approach to achieving a low-carbon future, the U-M Investment Office recognizes advanced nuclear technologies as a key component to its climate solutions investment strategy, reinforcing its commitment to long-term decarbonization goals.”

Advisors
Latham & Watkins LLP is acting as legal advisor to X-energy, and Moelis & Company is acting as exclusive financial advisor and placement agent.

About X-energy

X-Energy Reactor Company, LLC, is a leading developer of advanced small modular nuclear reactors and fuel technology for clean energy generation that is redefining the nuclear energy industry through its development of safer and more efficient advanced small modular nuclear reactors and proprietary fuel to deliver reliable, zero-carbon and affordable energy to people around the world. X-energy’s simplified, modular, and intrinsically safe SMR design expands applications and markets for deployment of nuclear technology and drives enhanced safety, lower cost and faster construction timelines when compared with other SMRs and conventional nuclear. For more information, visit X-energy.com or connect on Twitter or LinkedIn.

About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit amazon.com/about and follow @AmazonNews.

View original Press Release: https://x-energy.com/media/news-releases/amazon-invests-in-x-energy-to-support-advanced-small-modular-nuclear-reactors-and-expand-carbon-free-power

BioHub Maryland opens new biopharma Workforce Training Center in Rockville

The new 8,200 SF skills training center equips workers to accelerate Maryland's Life Sciences industry

BioHub Maryland, an initiative to accelerate life sciences in the state, today officially opened a new state-of-the-art biopharmaceutical workforce training center at 9808 Medical Center Drive in Rockville. Maryland Lt. Governor Aruna Miller and Montgomery County Executive Marc Elrich joined life sciences industry leaders to open the training center on October 24.

Located in one of the nation’s top life sciences hubs, the 8,200-square-foot BioHub Maryland Training and Education Center at Montgomery County unlocks career opportunities for Marylanders and builds the diverse and skilled workforce needed to advance Maryland’s global life sciences leadership.

The BioHub Maryland Training and Education Center at Montgomery County provides hands-on technical training to current life sciences workers, military Veterans and Marylanders who may not have college degrees in a multifunctional facility designed to simulate a real-world biopharma manufacturing setting.

Trainees gain skills such as aseptic techniques and manufacturing recombinant proteins, vaccines, and cell and gene therapies, and essential practices like Good Manufacturing Practice (GMP) and Good Documentation Practice (GDP).

The BioHub Maryland Training and Education Center at Montgomery County is made possible through a $3 million investment by Montgomery County. Additionally, the Moore-Miller Administration has provided $1.25 million in operational and capital support to BioHub Maryland since taking office.

The BioHub Maryland Training and Education Center is the only training center in the National Capital Region to feature globally trusted curricula from the National Institute of Bioprocessing Training and Research (NIBRT), an international leader in biopharmaceutical manufacturing training and research.

BioHub Maryland is a skills-first workforce development initiative of the Maryland Tech Council (MTC), the state’s largest life sciences and technology trade association. Its mission is to accelerate the growth of the life sciences industry by expanding the state’s biopharma manufacturing talent pipeline.

Montgomery County Executive Marc Elrich stated, “The BioHub Maryland Training and Education Center at Montgomery County is an exciting opportunity to create local jobs and expand our county’s life sciences leadership. Our investment enables job seekers of all educational backgrounds to gain in-demand biopharma skills in a cutting-edge training environment while providing employers the skilled workforce they need to advance the medical innovations that patients around the world depend on.”

Maryland Tech Council Chief Executive Officer Kelly Schulz stated, “The BioHub Maryland Training and Education Center at Montgomery County will set the standard for excellence in life science talent development. We are building the biopharma workforce of the future in Rockville and our doors are open to Marylanders of all educational backgrounds. We are grateful to Montgomery County for their leadership in making this training center possible, and to the Moore-Miller Administration for their critical operations support since taking office.”

Life sciences is a high-paying career option for job seekers who may not have college degrees. One out of every three life sciences job openings in Maryland does not require a Bachelor’s degree, and average annual life sciences incomes are 87% higher than those of other industries in Maryland.

Maryland hosts 2,700 life sciences companies and 54,000 industry workers and, as part of the BioHealth Capital Region, is ranked the nation’s #3 biopharma cluster. Montgomery County is a life sciences leader, hosting a dense concentration of companies, research institutions, and federal agencies such as the National Institutes of Health and the Food and Drug Administration.

About BioHub Maryland

BioHub Maryland is accelerating the life sciences industry for companies and career seekers to expand the state’s global innovation advantage. An award-winning initiative of the Maryland Tech Council, the largest technology and life sciences trade association in the state, BioHub Maryland helps residents of all backgrounds pursue rewarding careers in life sciences by offering skills training, career resources, and access to 1,200+ job openings in life sciences. BioHub Maryland also helps life sciences companies at every stage grow by showcasing their career opportunities, training the next generation of life sciences talent, and providing strategic resources for raising capital. Learn more at biohubmaryland.com

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