Cranston, Rhode Island -- Cast urethane part maker Mearthane Products Corp. (MPC) of Cranston recently gained $1-million refinancing from Seed Venture Finance llc to restructure its balance sheet and provide working capital for expansion.
Seed Venture Finance worked with the Business Development Co. of Rhode Island on the transaction.
MPC custom-formulates and fabricates open-cast, thermoset polyurethane/silicone products for a wide range of applications. It specialises in materials for arduous uses such as those needing high load-bearing capacity, abrasion resistance, or resistance to cracking under repeated flexing. Other conditions the materials can deal with include the need for long service life, for a controllable coefficient of friction, or for resistance to oil, grease, chemicals, ozone and radiation.
MPC makes proprietary high-performance solid, foam and conductive urethane elastomers under the Durethane name.
Its polyurethane and silicone components and assemblies are used in business machines, industrial and military markets and in wheels for hockey skates, skate-boarding and inline skating.
According to Tom Wooters, investment manager for Seed Venture Finance, "Mearthane Products is well positioned for growth. Its innovative, high-performance products are critical to its customer's current and future success."