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9.0. EDSR 02-12-1996
• ANOKA COUNTY CAPITAL FUND SECTION I - ANOKA COUNTY CAPITAL FUND STRATEGY AND PROCESS To encourage the growth of small compa- MI nies in Anoka County, area banks, utility MISSION '> companies,Anoka County and other stake- . ' holders have created an fund to invest in The mission of the Anoka County Capital small or emerging companies through equi- > ty or other type investments. The emphasis Fund is to stimulate in Anoka County the of this Fund will be to make investments in development of entrepreneurial ventures, the start-up, small and expanding businesses retention and expansion of existing businesses that are primarily technology-intensive or and the attraction of new business activity con- '' manufacturing-related. The Anoka County Capital Fund has estab- sistent with the character of Anoka County. 1 oil fished Investment and Technical Advisory IIi Committees comprised of individuals with expertise in private investing and business Our goals are to: development from across the Twin Cities' 1. Draw together Anoka County stake Metropolitan etm ompitte�Area. The Technical Advisory holders includingbanks, utilitye advises the Anoka County Economic Development Partnership Board companies and other investors in order II of Directors (the Fund's Manager) on the to embark on a collaborative effort to III applicants product, market potential, and improve the area's economic condition management expertise.The Investment and stimulate job creation by '' Advisory Committee analyze and make rec- strengthening its manufacturing and ommendations based on the financial technology-based industries. aspects of the investment. 411, 2. Provide a source of capital for small businesses including women and STRATEGIC INTENT minority owned businesses that are gN The strategic intent of the Fund is to: located or will locate in Anoka County. • Provide a market rate of return on ° investment appropriate to the risk; 3. Retain existing businesses and their planned expansions 11 • Create new sources and leverage 4. Generate a cash return to fund existing sources of capital; investors. • Monitor operations and provide business and technical expertise to businesses; Cultivate successful es sful businesses. n e s se s. This Fund is not loan or ar g an t pro- :::::::::::. ro- gram. Because the Fund shares the risk, Anoka County Capital Fund investments are structured so that the Fund will share in the profits that result. In most cases, if the Fund makes an investment, the Fund will participate in ownership of the company. This may involve a range of moni- `' toring activities as a means of protecting the investment including, but not limited to: Piia attending all company board of director's meetings in an advisory capacity; assisting the company in finding business experts and 1 other resources, making recommendations 1 designed to help the company succeed. POLICIES AND PROCEDURES 1111111 MATCHING REQUIREMENTS The following summarizes important Fund In order to create new sources of private policies,procedures and evaluation guide- iiiiiiiiiii investment and to leverage the Fund's lines. in resources, the Fund will strive for cash equi- ty matches. This means that the Fund, in im WIG IBLE BUSINESSES iiiiim most cases,will provide only a portion of the Eligible businesses include: rlil!ii!iii total equity needed. The matching funds ili • Small,technology-relatedmust be tied directly to the same use of manufacturers or operations iiiM funds as the Anoka County Capital Fund. • Manufacturing-related companies or :i*]:i:i:i: n ,...... operations MINIMUM/MAXIMUM INVESTMENT C lilililig The typical investment by the Fund will A company need not be "high-tech," but it must have or be developing a new '' range from$25,000 to $100,000. For needs orprocess which will give it a above$100,000 the Fund has the ability to product partner with other funds. competitive position in the marketplace. ill INELIGIBLE BUSINESSES WHAT IF YOU ARE TURNED DOWN? n The Anoka County Capital Fund will be Ineligible businesses include retail,tradi- unable to invest in every opportunity, but tional service businesses (such as restau- Milii when a project is turned down, every effort M..� rants), commercial real estate developments. will be made to outline the reasons why and r..� ANOKA COUNTY In make appropriate referrals to other sources of assistance. 0 RESIDENCY REQUIREMENTS One hundred percent of the investments iliPORTFOLIO FOCUS OH be made in companies or operations that INDUSTRY are located in or will be moving to Anoka241 County. One of the Fund's major objectives is to ga develop a balanced portfolio of successful V FUND USEScompanies. Consequently,Anoka County Appropriate uses of the fund include: Capital Fund investments will span a range howev- • Working capital associated with product '• of eligible industries. The Fund will development er seek opportunities m industries where • Commercialization Anoka County has a demonstrated economic • Marketing base from which to build. These industries • Inventory hill include medical products,precision tooling, el • Accounts receivable and food processing to name a few. In addi- • Facility expansion tion,the Fund will actively explore business- • Equipment es which are major suppliers to its larger cor- • International joint ventures porations. • Other uses deemed appropriate by Fund Management and the AN 0 KA Investment and Technical Advisory Committees C 0 UNTY I :::....•.:!:::::::::,,,„„,,::::,:.....I CAPITAL Page ....... ....... FUND ....... ...... „....;.:.::.....i....:..„.. ....... 2 DEVELOPMENT PHASE Mi INVESTMENT STRUCTURE In order to offset risks associated with any I The Anoka County Capital Fund will strut specific development phase,Anoka County 0.. ture investments to provide necessary levels Capital Fund's portfolio will attempt to ei of return,without negatively impacting a • encompass the entire spectrum of develop- company's potential. The price, ownership ment phases excluding seed investments. and exit that the Fund negotiates will be The following definitions of development iNg based on both the anticipated return poten- stages apply: tial and the perceived risk associated with Mil• Start-up Investments- Company has that investment. The Anoka County Capital prototypeFund is a longer-term investor with exit from completed development and the investment sometimes occurring market research, and seeks to begin between 5-10 years. manufacturing, marketing and sales. • Expansion Investments-Existing LEVEL OF RETURN business seeks to expand into new The Anoka County Capital fund has set a markets, add product lines, increase 11111gi. minimum portfolio objective of generating a manufacturing capacity, or apply new or level of return of not less than 15%. existing technology to new processes or products. tiN EVALUATION • Buy-outs- Management or employee Recommendations regarding specific groups seeking to acquire a going investment opportunities will be based on an concern in situations where the result extensive evaluation of: of an Anoka County Capital Fund's in • Compatibility with the Fund's investment will be to create or retain strategies, policies, and procedures • eligible employment opportunities. • Growth potential • Other-Opportunities • Management which Fund . product uniqueness Management and the Investment • Market and Technical Advisory Committees • Competition deem appropriate. • Financing requirements INVESTMENT POOLS The Fund will consider making invest ments through investment pools. An invest- ment pool is a group of individuals and orga nizations that have agreed to provide capital 11111111 for investments to be made in a given geo- graphic area. The pools will use a coordinatIiiil - ed process to discover, evaluate, mentor, and monitor investments made by the pool. The 83 purpose of regional investment pools is to improve an area's capacity and competence to deliver investment when and where it's needed. .„,.„:„„„,; m ........................ 3 .:::::.,.:.•:...:.:..,..•,....:...•....•...,...,. SECTION II - 01 • Describe the structure of the market niche for your product: share of INFORMATION FOR APPLICANTS the overall market you intend to capture illkEPARATION CHECKLIST (as a percentage), size of the market Below is a checklist of information a corn- niche, growth rate for the last 5-10 O years, projected growth rate for the pany should have when requesting financing ililIllilill next 5-10 years, historic gross and net from the Fund. Based on this information, profit margin, and sensitivity to changes the Fund will conduct a preliminary evalua- in price and costs. tion of your business opportunity. Much of the following information is included in a • • Describe the competitive environment O sound business plan. of the market number, size, If you need assistance in developing this and distribution of the companies and information,we recommend contacting a their products that will compete with local business development specialist or a your company and products. How do business advisor. they deliver their product to the customers?how do they differentiate 1. MANAGEMENT TEAM between themselves?How will you ci2 ASSESSMENT position your company and products so An attractive business opportunity has a Et that customers can differentiate you team in place with experience and compli- from the competition? M� mentary expertise. j Mil • Describe your customer: demographics, • Provide detailed resumes of location, etc. How will you Ell 0 management and a description of reach them?What are the key factors expertise available to your company they consider in making buying from members of the board of directors Iii decisions?How quickly will the and people who serve as advisors. customers receive a payback from their2-4 Highlight experience and skills relevant Mi investment (purchase) in your product? ti to your business. How do you measure this payback? • List the strengths and weaknesses of • Describe the unique features of your the management team and an product(s), unique technology, explanation of how any identified product life,value to the customer. (If weaknesses will be addressed. available,provide drawings, brochures, etc.) 2. MARKT ASSESSMENT The best opportunities typically occur in • What are the percentages of the total markets that are growing,where a market cost of the project that are the niche can be identified, and where cus- fixed costs of production, marketing, tomers have a strong need or desire for the iitill distribution, sales, and product product. development and R&D? • Describe the overall market structure: Ilii • What are the percentages of the total size, growth rate for the last 5- cost of the product that are the S10 years,projected growth rate for the iili.illiiivariable costs of production, marketing, next 5 years, historic gross and net distribution, sales, and product Pageprofit margin, and sensitivity to changesdevelopment and R&D? in price and costs. ...._. 4 • Describe the degree of control your iNg 7. ECONOMIC IMPACT company has on prices,costs, • Please provide the projected number of supplies, marketing, sales, distribution, iiiillii jobs to be retained and created plus and product development and R&D. estimated wage levels for each of the next five years. • • Describe competitive barriers your company has or can obtain over o 8. OWNERSHIP/EXIT current competitors or new competitors • Describe the investment instrument, that enter the market. price, and percent ownership you propose for the Fund. 3. FINANCIAL ASSESSMENT A good business opportunity can sustain • Describe when and how the Fund will profit margins and maintain positive cash exit from investment in your company. flow. •• Describe how you will achieve and Mail the adjacent Information Sheet and a iiiiit copy of your business plan including the above sustain these goals. information to: 4. FINANCIAL HISTORY Sii Anoka County Capital Fund AND PROJECTIONS IN c/o Anoka County Economic • Balance sheets, income statements and Development Partnership cash flow statements for the 299 Coon Rapids Boulevard, Suite 12 past three years or, if in business less Coon Rapids, Minnesota 55433-5868 than three years,from start of business. • Projected balance sheets, income IIIstatements, cash flow statements for each of the next three years, including liODD underlying assumptions. 5. SOURCES AND USES OF FUNDS • Please confirm the total amount of financing needed for your business including debt and equity,possible sources of financing, and specific uses glil of the financing. 6. CAPITAL MATCH The Fund generally requires$2 of other financing be invested for every$1 provided by the Anoka County Capital Fund. Al • Please submit information regarding MI other sources of financing for your company (i.e.,how you will raise igi the equity match). ge ........................,.....::::::.................... ......,.....::::::5 ,,,,,,::::::.:::::::...... 0 maiiiiiiiiiiissimiiiiiiiiiiastritistitihk isommisimaimommimma SAINT PAUL PIONEER PRESS 25 TH E SEPTEMBER 1995 BusINEss SECTION MONDAY 6 PAGES • TWIN CITIES DAVE BEAL Local man has stake in helping companies hatch Harlan Jacobs knows the tors around the world that offer the same combi- stints as successful entrepreneurs,who act quiet- meaning of creativity,if his nation. ly on their own to finance promising start-ups. Genesis business incubator in "It's absolutely unique in the Twin Cities,and They have come to play a greater role in recent Columbia Heights is any indi- 4t,f a welcome addition to the entrepreneurial world years as the more traditional sources of capital cator.And let's put the 4 here,"she says. —banks,venture capital firms,various other emphasis on the word his. Most often,business incubators are owned and financing institutions—have shied away from Jacobs owns 100 percent of ` ''y' operated by universities or other nonprofits,or the risks of small,early-stage companies. the incubator,which functionsy by developers: Jacobs and attorne Brad y Lehrman,president as a closed-end venture capi- Typically,the incubators offer shared services of Portage Capital in Bloomington,launched the tal fund in the sense that it STAFF COLUMNIST —communications facilities,secretarial services Minnesota Private Investor Enterprise network owns stakes in all seven of or links to various small-business networks— lastear.The y group consists of business angels, • the privately held companies occupying space designed to help capital-pinched entrepreneurs who have met seven times over the past year in there.And in a related venture,he has plugged hatch their companies.Hundreds of them have a banquet room at the top of the IDS Center to two of the seven—Comedicus and Ashirus popped up across the country since the late hear presentations from entrepreneurs seeking Technologies—into more than;1 million each 1970s.But Jacobs'personal stake in the comps- capital. of early-stage financing from business angels. Hies and his role in connecting them with busi- "There's a real need for support by these com- Candace Campbell,a fellow at the University ness angels sets Genesis apart from most of the panies,"says Jacobs."It's being filled by incuba- of Minnesota's Humphrey Institute and a past rest. chair of the National Business Incubator Business angels usually are older investors, Association,knows of only a handful of incuba- often retired from high-paid executive posts or BEAL coNTINUED ON 3E► .-: e.f-1:-.."-,:',i'' ,2" 4°;", ea..Avez 5 rr.-; 4 4.4r4 }met:>,,ag= �d BEAL/Business `angels' play a key role s Visual Circuits,which is devel- "It's difficult to put this in a ♦CONTINUED FROM;E oping hardware and software for bottle and take it on the road,"she personal computers. says."It's not just about being a tors and business angels." •Data Machine International, smart person with money." The Genesis incubator,which is which holds a patent for speeding Campbell calls Jacobs a good the second-largest tenant in the up data processing tran,fictions by self-promoter,but she says that's Columbia Heights Business Center reconfiguring disk drive operating part of the recipe that got Genesis at 3989 Central Ave.,could be- systems. off the ground. come the largest if it meets Ja- Jacobs,46,is a man who thinks "He's just sort of relentless," cobs'expectations. big thoughts. she says."I think he's doing the The 2-year-old incubator has He was appointed by Sen.Rod right thing." support from the Anoka County Grams to be one of Minnesota's 34 Dave Beal is senior business editor.His Economic Development Partner- delegates to the White House Con- column appears Sundays,Mondays and ship and the Anoka County Capital ference on Small Business this Fndays. Fund,a related entity backed by year. the county and a consortium of He began wiring himself into eight banks and a utility.A third the network of Twin Cities inves- group with ties to both of these tors mostly through his experience two,the Anoka County Investment as chief financial officer at Film- Club,has put money into two Gen- Tec,which was acquired in 1985 III esis companies. by Dow Chemical.He says the big Jacobs estimates that the seven gains he rang up from investments Re- companies housed at Genesis now in the stocks of FilmTec and Re- employ 30 le.One Genesis-in- covert'Engineering have given Peep him the resources to get the cen- cubated company,SurVivaLink, ter and the angels'network up and has graduated to its own site in running. Minnetonka and has 25 workers Jacobsgets his pieces of the ac- and annual sales of$1.5 million. F "It was very helpful for us,"By- tion in Genesis companies through ron Gilman,founder and CEO of swaps.He'll pay the rent,help '# with a businessplan or provide in- SurVivaLink,says of Genesis.The company was part of Genesis troductions and access to special- when the incubator started up in ists in return for equity. quarters leased from General Pat- Now he wants to take his Gene- tern Co.in Blaine. sis incubator concept around the NT International,which makes country,starting with Bemidji. le fiber-optic industrial control sys- picked that city because Jim Ben- tems and sensors,is the largest sen,a well-known bacl=er of entre- compar.,.in Genesis now. preneurial ventures,moved there The other tenants: last year to take the presidency at Harlan Jacobs a Ashirus,which develops spe- Bemidji State University.Jacobs wants to take his cialty pumps for medical devices. also is looking at St.Paul acid Genesis Incubator . r png.Comedicus,a medical device Northfield as launch sites for incu- concept around. and pharmaceutical development batons. the country,start- company. Whoa,says Candace Campbell, ing with Bernie. •Teknowledgy,a developer of who suggests that the ju'y is still interactive multimedia sales pre- out on Genesis'perform.nce in sentations. Columbia Heights.She remembers •October Systems Software,a coming across countless plans, developer of a system that gathers most of them never realized,to set medical data for physicians and up national networks of incuba- their staffs. tors. ENTREPRENEURSHIP •Our Next Don't starve the entrepreneurs Meal Ticket By Harlon Jacobs ver the years,there's one inescap- neurs in our midst as a general rule. O partnerships. Seven able fact of corporate life that .; area banks and one util- none of us has to accept,yet most a cannot afford to ignore ity company formed a of us readily do.We tolerate the financial these prospective sources of kit. .. ,; multi-bank, commu- version of the starving artist paradigm as job growth. We need to develop , 4 nity development cor- it applies to the funding of start-up corn- them as quickly as possible. To .`v` poration(CDC)for the panies.Because of this,we're losing high- that end, we need to address the express purpose of at- wage jobs that would otherwise be created problem of insufficient seed capi- tracting early-stage, and would thereby improve both the tal. To get to the root of the high-tech companies economy and the quality of life here in problem,as taxpayers and policy- Harlon Jacobs and the jobs they bring Minnesota.This is a problem that should holders,we should encourage the to Anoka County. be fixed as quickly as possible. Everyone state pension funds and insurance corn- Other metro-area communities are begin- would benefit. pany investment managers to place a Hing to consider or adopt their own ver- In 1979, I had the opportunity to be- reasonable portion of their venture capital sions of this program. This model ought come the CFO at FilmTec Corporation,a portfolio investments in vehicles that are to have the whole-hearted support of all start-up company that ultimately employed committed to making seed capital invest- public and private sector groups whose 200 people and was acquired by Dow ments here in the state of Minnesota. stated intention is the creation of living- Chemical Co. for$75 million in 1985.We At the state level,we need to modify our wage jobs here in Minnesota. need more companies like FilinTec here approach to investment in a manner which Further, we need to encourage more in Minnesota,but the barriers to entry are recognizes that the primary locus of high- prospective investors to join the ranks of •quite formidable. These barriers need to tech start-ups exist in the metro area. those business angels that can and regu- be removed,which can be done by adopt- Rather than starve that bounty of start- larly do make investments of$25,000 or ing some common sense approaches to ups in the seven county metro area, we more in early-stage companies. We need enhance capital formation and availability should encourage them to 'partner'with to eliminate those needless aspects of the for early-stage, high tech companies. outstate communities in order to avail paperwork process (and the associated It seems that there is some immutable themselves of state and private sector expense of costly federal and state securi- law of the financial universe that requires programs that are designed to develop ties laws filings) that deter or preclude all start-up companies to suffer through high-tech jobs.A start-up company in the undercapitalized entrepreneurs from seek- extended periods of undercapitalization. Twin Cities could be incubated here and ing the very capital they need. The new It's just plain wrong. I believe that Van then, once viability is achieved, it could federal program known as SCOR (Small Gogh would have painted his master- then move all or a substantial portion of Corporate Offering Registration)is not as pieces just as well had he not suffered its operations (and jobs) to that partner well-known as it should be.It represents a privation. To bring the point home to community in the outstate location. federal response and a good one to this very economic development, we should do At the federal level, we could ask the problem.At a state level,we need to make everything we can to nurture the next IRS and the Department of Labor to certain that Minnesota is as'user friendly' generation of job-creating engines.Yet we reconcile conflicting rules and regulations as possible with respect to its blue sky rules , have tolerated a system that is virtually that preclude an inventor,entrepreneur, and regulations as they interact with the dysfunctional with respect to the funding officer or board member of a start-up SCOR program. of start-up companies, save a few points company from investing from his or her Finally,in terms of our own enlightened of light here and there. own self-directed IRA into his or her own self-interest, would it upset some vast None of us has trouble with the concept company. If there were 100,000 entre- eternal plan if we helped make certain that of identifying talent on the high school preneurs with$25,000 of investable funds entrepreneurs had ready access to capital? basketball court.We accept the program of in their own IRAs,that would free-up$2.5 The answer is clearly no!In fact,we would recruiters,scholarships and other forms of billion of capital for start-ups nationwide. be helping to create more jobs and more financial support in hopes of landing a Not one penny would be spent for bu- taxpayers. Everyone would benefit. We college player with a good chance of be- reaucrats nor would one penny ever leave simply need to work hard at applying coming the next NBA all-star.Regrettably, the U.S.Treasury.With a stroke of a pen, common sense to establish a cornprehen- there is a lack of symmetry when it comes to significant capital could be mobilized and sive solution to the problem. MB&O economic development. We do not readily placed exactly where it is needed. • support programs that identify,coach and Take for instance the Anoka model Harlon Jacobs is founder and president of provide direct financial and managerial which represents the finest example of Genesis Business Centers,a high-tech business development assistance for the entrepre- successful public sector / private sector incubator program located in the metro area. 46 Minnesota Business&Opportunities/JANUARY 1996 City of � MEMORANDUM *Elk River TO•: Mayor FROM: Pat Klaers / DATE: February ', 1996 SUBJECT: "Substainable City Showcase" Attached for your information is some material regarding the Substainable City Showcase, Energy Alley and Solar Attic, Inc. Bill Rubin has provided me with this information and believes it is appropriate for the city to respond and show interest in being considered for the Substainable City Showcase. Bill has had numerous conversations and exchanged letters with Ed Palmer from Solar Attic, Inc. and believes that it would be appropriate to have Ed come and visit with the City Council about the benefits of becoming a Substainable City Showcase. Mr. Palmer is on the Substainable City Showcase committee and for more information regarding Mr. Palmer you may want to visit with Bill. If Mr. Palmer is to make a presentation to the • City Council it would have to be on February 20, 1996 in order to meet the February 23, 1996 submission deadline. (We can submit an application without the presentation from Mr. Palmer.) After you look at the material why don't you give me or Bill Rubin a call and let us know what your thoughts are about a presentation from Mr. Palmer and about showing interest in being a Substainable City Showcase. s:\admin\subst.doc 13065 Orono Parkway • P.O. Box 490 • Elk River, MN 55330 • (612) 441-7420 • Fax: (612) 441-7425 • • • \gq6 . • • L• • Minnesota • • Environmental Initiative February 2, 1996 • • • • 3e Briggs k Morgan••- Mayor Hank.Dutsmar] . Delta Environmental Consultants City of Elk River . Faegre&Benson 13065 Orono Parkway, Fingerhut.Corporation P.O. Box 490 - • •Heuwnd Graphic, .Elk River,MN 55330 : ' Tie McMight Fougdatiott • Northern States Power. - ' . Ot eof Envuonatenta!Assistantt':.. . PAS Incorporated k Donnelly Dear • Mayor.Duitsman • ors •o;i.to• • As you are developing your 1996/97 city agenda,please consider • •:.. . B s:.:.:. Alley;Welookingpartnering with Energy Y are for a community who is-excited about becoming•a Sustainable City.. ' Brimming-Faris Industries ,• Showcase: The Showcase will exemplify the latest technology. Denser. & from large and small companies such as Andersen'Corporation,.Honey ;ell 3M,Ener e' : Solutions International,SolarAttic and many more. • �' IBM •• Streaaad Detoerd .The.Showcase will be a demon_ stratiori site of the following energy Mcclam,el$Pullen • .renewable•ener (EERE) . 8 _ gY efficiency-and . gYprinciples: • Depamneet of A•griatlnue . of Nat Naval RCiO°10"• • •EERE investments are cost effective Muraaat Itaioo Control Agency EERE-opportu'rtities and.technologies.arethere and applicable: . Qt+adGT.*,• .. • • EERE does not mean compromising comfort,performance or quality Tee Roatand Company •••RUST& t sad infra EERE iiriproves'the environment " p, kinc. t t� ••'EF-RE keepsenergy dollars in.the community,creates value-added jobs and increases . :competitiveness.. C►ydcConstilnnts .Directors • Energy Alley, an enterprise of.-the Minnesota Environmental•Initiative,•is a collaborative wi ii;tnt urseth.coir • •eff©rt of energy efficiency and renewable energy businesses with.the mission of .. US.Directives MSA cit�ens Board • strengthening Minnesota environmentally and economically, Pau]Goudteaul+Secretary Delta Environtnenta]Consultants' Mtchad Eg rtt e • • If you wish your city to•be considered for the Sustainable city Showcase,please fill out • H anai.raplucs • - the enclosed response card and return in the envelope provided by Febru' •'16 Steve VinYour response will be an indication of initial interest,we will be Scheduling 1996: PACE Incorporated ••'Pam Graf:, •-•with prospective cities in March. We look forward.to hearing from you and.to discussing; `Northern.5tates Power' Lee Paddock . - this exciting opportunity. Office of Nc Attorney General • • tack Van de North .. tsris�s Q Atotgan Sincerely, •� sus � - -. •- • lohn Gordon • Faegre d:Benson _ •. Don Arnosti Audubon Sodety ulie•Ball Ron Nargang oeI a B• n Program J liIi1S .. P am Department of Natural Resources ii Manager Energy Specialist Ereg Erickson n$Dnersified.Corporation i TV �6f Etirironmental Assistance Diane;enseri • Clean ter•Action •• �.1 Amid wtith oy i.con 300% _ -Post•consumer P'per • 2420 Rand Tower 327 Marg .'. . ': ..•• -•. _ . Marquette Avenue South Minneapolis. MN 55902-1329.E• • • • -, • - Mail nietwrinternet corn Phone 16121334 3388 Fax(612]334.3093 • io • tom,. FFB D 1� . " . •: _ ......, . . . . .. . •.. - . . . . . • . . •. Minnesota.. . . . . . . • . .. .. • Environmental February 2,1996 Initiative : .Bmnefscbo '.•Mr.B i 11 Rubin• " . • • • ••••• 3M. City of Elk River Briggs&Morgan . 13065 Orono Parkway •_• Delta ETiental Consultants . Elk River, MN 55330. •` • - Fingerhut Corporation . Heartland Graphics Dear Mr. Rubin _ The McKnight Foundation Northern States Powe. • • • Office of Environmental Aasiatance.. As you are tannin OppceofEn Wolffnt Donnell -" g your 1996/97 conservation agenda;please consider partnering with. PACE heorpnntol •y Energy Alley. We are looking for a community that is excited about becoming a.••.• ' '- Sustainable City Showcase: This letter has been sentto you because an involved . - SponS0r ..munici al utility ty is essential to the success of the Showcase arr Bntm7 to The Showcase will exemplify the latest technology,products and services of large-and ..Btotiming Frans iadustrtes B sin a.Mdx« • small coinpanies•such as"Andersen Corporation,Honeywell;3M,•SolarAl c,Energy t • , ss • ''Solutions International and many more. -The-Showcase will be.a demonstration site of the --•�� w c««,wng: following energy"efficiency•and renewable energy'(EERE):principles; mieTertsM . .t, ••1+ERE investments are cost effective • . : � EERE'Opportunities anci'technologies are here and applicable•`. Po �co,woi t Reo, •EERE doesnotmean compromising comfort,performance or'quahty 1• lrmea I2 Pofiu 0 •.EERE improves the environment • • • • Nil,.spec,.Beardsley - • • '• EERE keeps energy dollars the community,creates value-added jobs and increases Qe•d Graphics • The Roi.lend coo pany competitiveness w« Associates • •.Energy Alley, an enterprise of the-Minnesota Environmental Initiative;is a collaborative .Woodward.ayde Iu effort of over 100 Minnesota energy,efficiency and renewable energy businesses:'Our Pirflltit-ecy • •' mission is to promote EERE,stimulate-Minnesota's economy,and improve the ant[traetti ?rat: • :' environment • • _• • . us.txre ,�es nt Weare in the process of selecting the:Sustainable City.Showcase site. Patti A Citi ens Seaera If you wi.ifryour Dena E°'''roM+«tGu consyrtitants 'city to. be considered,Please-fill out the enclosed response card.and return it,in the . • -`h'tictraerE elaton • enveloprovided:by February 23,1996.:.Your return of the response card.will be an:, Ste.•e Vanderboom -indication of initial interest;we Will be scheduling meetings with prospective cities in PACE Incorporated March. We look'forward to hearing from you and' -to'discussin this exciting Pam E ncor Northern States Power $ opportunity office of the Attorney-Genera] • • •teepaddoek :Sincerely� • _ - `jack VaniieNorth . riggs "Morgan ' • • az( - 3H susag • �If/ / • nttn Gordon Ae Ball aegrr k.dons n • ``-Joel Bums Don os Program �y •. ManagerT. • Energy.Specialist. Ron Nargang Department of:Natural Resources cc Your City Mayor. . . - n$Diversified Corporation. • E arvev Office of Environmental Assistance DianeJTenseti' .Clean Water Action • - • tan% - post•consumer paper 2420 Ran Tower•.537 Marcry etteAvenueSouth Minneapolis,MN55402-1324 EMailma�.inteinetmm'.P ne(612)33433gg Fax • • • • • • • • 0 •. - .. : . . . . .. . . ' �` J it ,_I t , tW • `.••...::1 J ill,,Liar I l•4! 4 3 + i..4.•,4::: t .. ..+...0 - .i r art .ai d t n,�rya I.t e x ! 1• { • r. • 4i i,hil.ml4 I ,1, t 1 :i t . • . . . . SII •'.,• • I ••• • K rrWy�ttil'k{lt[x'iis 11ji ,liiil't Fi1i�!Iy' ^ttti • -1, �C,R� 'P��+• • / .• ' . .�••' Ii*4tJti�N:t l"• - .. aua1 Y c� 4. I • • • 3•33, 3. 3!1.3 • • • 33 • • • • • • • tr.rii p; •• {r{iN i 4h , . , Ar� tI r._ kw tt ) 4J t i • 4 .aµl L M, li !11 ' SII . 1 _.... ' _ • 4' t '!i j `,p�.* 'k .ttait I , • G0i •l �kN :ry•.n ! h Yj 1 II ' i1 ta.!' " t +'LhC�til1 t I -" = t diAce1 + c• , � -xt f.aMle t4-ren33,l ,„ 1 . 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'.41-•;-.;•1,-.i. -,..-e-t:....-..-,444,.."er.. et,o;_) : , z-.--,..ratr.,7w- -.;•-•-7,-;... . '0.„'". ;4'.--,:.',q15•••-•-.2%-•- •••(•-4.'..,-.s.-,1':-,-0, --.*: --*,-•-- -•,*:. ..;,:.. • ..'• .* - . • . • •: ......" t's:: • .•.•:.-.•••.,••.•••:..'..::..•-'.••s,..,•'•'.,.7.I..:•i•...!;•„-".:•.:•'''•.',.'.'44t''i1t4*-.4•,•,-•*•'•:44a4142",O•X.1e.r.s-41",iri14•e.;44ss:6.19'.743...1sx..1ra+.i11tr:V••,••re.7?;•..•:".,.,•.„••`,•A''':•:o:;'1;se4`..1.•,,4'..•;14•:•.44.•,,'.';.:•:4•'••4.:••:;4.6.•,4,-•;,-•:3•••!•.•:::•1•••••*,;••;•;e-::•:"•:•'•:•:.•.•••:•.,:•:-:••4••.!`*•.•-.•.••.'•'`-••-..•.:. '"t%••-•.•.•..7..:4.,.4...e..•:•!•*,•••-•••••••'•4.:•4.•••• •. ' • ALLEY : * " . .n ; ;•:• •yi . •-: . 4 . ' •• ' . ... 5.:A444•:.:-.:.• ,: . - ...•.2• ... •• •• •• • • • • . • • •-•• • • Our Vi• • •ion Energy Alley was •••• • • •:-. s . , established•to promote. . • •-• • • .. ..gif-.4..1..1,1.-.4-:.,:,:4,.,,-.7.-;43:.?..-..?„..,..2..,..•1. ..,•:,...•-••.. -.q: .:.,••-t.....,.t•-.....-. ;• .•. _ - . . . • -• -. - .• : Minnesota will be recognized as a Minnesota s energy efficiency • •• . • . . . • • .. :'• -..• •-.--world.:.center for energy efficiency and - and renewable energy .:. •:•..,•• ••• 2..1:7,-,--i,,-.-,-.4..,,,„•:,..;...,..,• .- -.. ... ... • . . . .. .,..„.......,.........-,...:•...,---len4e-Wible-energy (EERE). . .- • : • . (EERE).in. citiStry...': .... •-•••••••• , -'44);;44..."`r•?• 4 ..it,”,:;44.•:•Y:.•'..,••::,._-:•-7....... .•. .....:. -•••.. .: •,•.. . •• . . . .. • • • -• •:•..• IheAggit4* ki4414,t::•f•ESZ•;:',..:::•••i.;:...;*::':'""::•:::::,•'•:. •':'•"..:1•-•.1.*: • ' • • •• • • • ., • . . . •. ,.. • • .. . , •. . • • . . • • . . . . . . . :. Our Mission . • ' • Through.education - • • • • . .. • •' •"-:--::* ----AA-d--------/------- •• - --- • • - . - • • marketing and promotion, .I :'-: •I --• . - ••••ap.,,:-.4...74....1.47:w.•:...:-::-........-,,....-..-•• . .•• .• ... . .... . . - • • . . . .. • • • .-. . . . . -"` •‘ • rAte....;k:•::1*.---:::.!;-•:;;"-&-- --..•--• -• . . . • • • :. : - . • - • • • . Energy Alley will ini.....;.•-:-.' ;-•-'..c‘',-,-.16'r-lii1-4:To:-f-sifellgtheli Minnesota -• • • -.... .-. ,...3,..”....,...:v...,.:.:4••••,..,-...-.: •.• • . • .. • •• • • .. •• - • . `IF . n:virontnentally•and economically... . strengthen the economy an -, . • • ......--.--.,... tgi,„±_ify:44,---...:a-_-;.. -.icif...,-.-:,....-,7•.,--..,.. .--.:- --,.., ;-.. : • " -.: ..-- • - .-.• ..• : • ',.:•- •,...,-,-.,....k.-T..,..-<,„-::,.,•,........,, ....•.......„.,... . ..._ .. ....,.. ..,.... .. .... . - . improve the environment.. - •. ---- . - • • • - • --2,....,-,..„:. ,..-::,.2.., -.,•-,:lt;...:.:::*;',..`,'.:::.,:..`::Our Goals . . • • ,. .......;.,,,. ::-.:......,..-_,.-•:: -- ......„: -- - • -.,. Energy Alley-will :.• . ..*. f .. . ... .4441.•4i.ci„,..,... „ .,,,...44..„..,:„ . ..,---„•: .-• •, • -.,.,..• -.:-.. ••• . - • • • • ..• . .::. • ,.,..t.t.r. m...-;;Ip...!;;,,,tv ,..q...... -4-,,, ,:.::' '.,-.,.-__ .•• - . . '':...•..-:: ' 4,r4:ifsfali"h'i IV:NI i n n te i o.-t a f a-;leadership in -.• . . • • l'.inform. EERE industry • •• - ••.• . -. - - •-•?•;-/It.i.- --r!!....- esigning and implementing • ;members of new : •• • ..• . tec - ••••• •-.. . -energy conservation and • . - • - . . .hnologies, regulations,: • , . . • • - :renewable energy solutions. .... . . ., •. • •• - • financing options and • • - • • • • . .. - ..J-.-....:•:::•,:•:.......••- - • •• . ' • - • • . - . .. - - . • .. .- ...-.7f,--!,•.---,:.•:-..Improve the environment . . - market opportunities. : •. - : . --,..„.,,.....::.•.,... • - - 1.4-,--3-7,::',...:-••••---.. -•• , •• : --.. - '-•-••;.::: •••,....-. ..and•$timulate the economy. . • - . • • - • . _ • • . • . • ••. • t- -. .:- .- •••..:..:;e::.:i-.:-......,..-•••••••... • . • • • Energy Allej7 will :•• • . . . :..;::Increase market share for Minnesota • - . ..,. .?•:::,:f.•:.EEREconipanies•bk-proin. oting their demonstrate that using EERE • • . . . . •-,•••••:. ••;••••• ' :•.•-• • :- products.an.a services andis the number one energy choice.. ••• •• .4.c:..:,...... , . . . . . .• • . • - • . - -..-. -.•• 'attracting new businesses to Minnesota.. . - . .for Minnesota. • : ... . . . . • •• .. • . . • . . .. • . . • • ... . . -.- - • • . . .. ... • . . • . . • • • - • . - ... • . . . . • •• . • .• . . • . • . • • . .. . • . • • • • Energy Alley1gyeyT' ojecus CommitteeSteering . .:.,,: ,a' iro r '..A.,.....- ,�r•'t.c • • John Gordon„ Chair • tr,"`:• -- M£1 Board of Directors and Faegre y�..�,.i,7., a F egre&Benson • . .SustainableY pF, _ , �;�f,� �CZty S LaZt1'C•ase... Steve Dess • wil "u'filiie:xlie most:a v Minnesota Renewable Energy • danced:technologies in. society nerg resoutee-management The-Sustainable•City_ ' Bob bilks •• • •demonstrate howl products and services -• • �o•• ••,lnc: . »•can address environmental concerns•and-create '' • John Dunlop 'oca-jobSi ;-, -M=me ,i Minnesota Alternative Energies ti �.j � M+y ,:c ,. K David.Grnmsrud L 's u' • t. ,, •.s. �, �F r- .. •Minnesota Building.Research•Center.'. . Success Story Energy :Tour.:.% .. ,. � � ' Anne Hunt,' St:Paul Neighborhood Energy Consortium twill offer tours of;EERE:success stories around the: state Interestedparties.within.Minnesota and del- • Steve jolinsori•;' ' ' •- : • 1.egations from other.states()mations will choose from . • 1vlinneggsco , axmenu of.EERB•.-tour sites exemplifying.new and: ' Mike Koenig • innovative applications - Andersen Corpora• • tion. •+ I rF...'-,k..Pr l +tii{s t -.N • Kevin Lawless ,. .•••••:• ":-.,;44!:-.17•11:••-o.;...:-. • •• Notfhem States Power. ', -n ,� irectofi o . • :it , .`.M ••• :f • Garan Mannion . . 'al Serve aS c1 marlietin g tool for Minnesota energy Minnesflta Environmental Initiative g• ' efficitrncy and,renewable energy businesses., The Alfred Marcus ' • . Vdirectones`w3A be available to'purchasers.of-EERE. Llniversity:of7vlinnesvia "'"products and•services domestically.and internation-. • • Jack Nightingale • " '�.z..zw a, ,. ,�> e • David Ostlie ' `"' • Energy Performance Systems . BFC `Center:: • .. -'t;4'14 Pw w„mx ag 3'e v.� Dan Ray. . w l be -. - �, ,� n.ino•rmation-iesource center to be used•by . ' The McKnight Foundation: �.&emergu gitEhR,companies a d •` } :s entrepreneurs .to Norma Swanson• r'amprave'their'produets arid`expand their markets • • •Ai• r for Life: ' •• , .- a x , ✓:: E 7'-rs-,4ke-4,,,Ayri. 0 /R'z4 w{lir ..:y j nergyey:Sponsors:�tl�.R � . Energy Breakfast Briefings... Andersen Corporation " . will:provide a.forum for Ecopreneurs (environmen- ' • P - :Honeywell .. . ttalentrepreneurs)and other industryrofessionals P : , Minnegasco .,. ..ztto network discuss:current technologies and inno=;` -. Northern States Power• nations•-and present their products or services"to:- The McKnight P industry`peers: • • g oundatio •n z� : • For more information please.contact � 4 r, z Julie Ball,Program Manager,g ` e nnual Minnesot • ri� �r� K a SEIZE Conference.. or Joel Burns,Energy 5pectatzst at: :1.. .,iwill'provide'Minnesota`EERE'"professionals with- Minnesota Environmental Initiative ir dustry info mation:tolead,ma• nage,and innovate. < '- . 2420 Rand Tower. tiw. • 527 Marquette•Avenue South • v)q .. Y•• Minneapolis,MN 55402-1324 Phone: (612) 334-3388 Fax: (612).334-3093 4"14."411•11P...."...'"' ''..".."4."."111.11.1110.1411141114.1106141.69"0111.40.10111111111111111101.1.111104.1110.41111411110111011111111011110104004111041111.140111"1"14"- ": 10 .26, 14 --(/ 1.12-1 wv Today's business Re • lona! news irrthat uses hOt attic air West acquisition an West Publishing Co. id Morthan it has passed a procedural heat poolsplans IPO dle in its : to bid to acquire Infos • c tion America,an Atlanta-based Elk Rivers SOlarAttic hopes t0 raise as formation services company. much as $1 .5 million at 50 cents a share The federal waiting period un • the Hart Scott Rodino Antitr By Dee DePass And since venture capital firms did Improvements Act of l 976 expi Staff Writer not express interest or wanted 70 Friday,el whichcing vat way dor Elk River-based SolarAttic Inc., percentangeof the for their trouble, in x-ll deal in privately held W company would acquire Information al which makes devices that use hot said that an IPO was seen as the �a for $32 a mare in a deal vale attic air to heat swimmingat about million. water, is going.public and poolecapt option to raising expansion al. • writing the transaction itself. The passing of the deadline mea The Securities and Exchange Corn- that the Justice Department d After eight years in business, the mission approvedegnot request further information •: company hopes to raise from tember anhe state of Minnesota O in $750,000 to $1.5 million by selling approved it this month. The firm i between 1.5 million and 3 million has survived to date with the hel 5 ! WA C�shares of common stock at 50 cents of sales and local private investors.p Five riv fal airlines announced Mo o folio Ma share during an initial public • offering that will be advertised in Proceeds will to be used to fund west Airlines' fare the Elk River Star News. Three ads Proceeds marketingprograms, day that they would meet Ne f. ' are scheduled to begin Wednesday, expand engineering and manufac- cuts for late ft P g ms, hire staff and and early winter domestic travel. • "Many people in the Elk River turing facilities. On Sunday, Northwest announce areaarea have shown an investment in- The firm's assembly room is travel in in our unique solar l- housed Palmer's garage fare cuts ofh up to continental percent £c togyer over the last un six solar said of hous e his the cadaine we Unite g g with of- States and Canada between No, Palmer, SolarAttic's founder, pres- 12 and Jan. 14. ident and CEO and former quality The final product, which sits in an And on• Monday, director of Control Data Corp. attic and is the size of a two-drawer United • "They've watched us. These ads. filing. cabinet, has been sold to 71 Airlines Delta Air Liner ' are one way we can inform them customers in 22 states. Units cost w Airlines, USAir, America • and TWA all said the • all at once of our plans." between $1,764 and $1,999, with- counts. . (TWA a Northwest's differ Large underwriting houses signaled out installation. announced a ♦ disinterest in handling SolarAttic's SolarAttic plans to use the same ent set of fare cuts on Sunday.) transaction because of the low technology to develop a domestic be bought share Tickets under the lower fares mus price, said Vice President water heater. A by Friday. Fares an s Bill Fred eli. Underwriters were shown in August, prototype was non-refundable and other restric more inclined to handle offeringsI it . tions apply. starting at 55 a share,he said. f , . • news- National i [ 10 n : .n."--.-"""-L______:_- • • • • • , • • ti:a: • • / . • • ;ary --• s . ;I n I far attic tnc: is selling . • • wn ,t.! stock . •Solar Attic Inc. has launched to expand engineering and _ its self-underwritten initial Pte- manufacturin -:"/' L ,. he offering (IPC) of company gcapabilities:The P Y . offering will be made directly .,. . ; stock with a series of three ad-. from the issuer „ �-'` vertisements in the:Elk River means of a ros and only by .i.'1::':;::. .' --.'•- Star News. P pectus: Solar Attic Inc. . . mole The public offering is for 1.5manufactures -.-fproprietary and patented.solar million shares minimum and 3 heating devices that use the so- r million shares maximum of the lar energy ' ;, contained in hot attic ':41 --:r company's common stock priced air.• • , •. ..:: : �:; --=•; at 50 cents per share.',.s�. ��•� � ;. . ._ :.i..:.. , • k: •EdPalmer,presidentand CEO The eliminatesCompany's s technology . ofSolarAtticInc.;saidthatthese roof-mounted solar coll dctor advertisements give interested panels, is used to heat residen- f` t people in the community an tial swimming Pools and 'pro- 3 .... ing to the grand the company, owning part of vide almer.y heat for homes said Palmer. -' " 'y' ... . . • "Many people in the Elk River Solar Attic is develo • . . . , area have shown an investment mestic hot water P a do- 'j` ry interestin our unique system,based que solartech- on the same principle of using ` =iation. The store nology over the last six years." ane "` energy contained in hot attic ne-to-one counsel- Solar Attic's-Inc.•SB-1 regis- air. 3mers about their tration statement for an IPC of Based in Elk River,Solar Atti• c es water testing, the company's common stock has been in business for eight I.- became effective Oct. 6. rs. ts '! heaters are•al- • Proceeds from the initial offer- eady serving lcustomers in in 22 ing will be used primarily to states, said Palmer,. • ;fund marketing Programs and Ded by - You don't need Homeowners Insurance, • but you do need protection. . tP. ,., Doug Johnson, Agent ...../t.A.I Yv1--vvi"" ' : . inning 4 _: State Farm's extensive ;key game! • < - • a.u �`�y' • k � �•i. coverage a affordable rates . a; 3 oarAftic, Inc. eiO°°°°°°°°°°°°°°# 1554895tlh Circle ITE,Elk River,MN 55330 (612)441-3440 Fax(612)441-7174 For Immediate Release: Contacts: Mar..1,1995 Jim Kantorowicz (612) 441-3440 Ed Palmer (612) 441-3440 • SolarAttic Announces New Ventilation Technology/Patent Plans Elk River, Minn. (Mar. 1, 1995) -- SolarAttic, Inc. announced today that it has developed a revolutionary new ventilation technology. The company plans to apply for a U.S. Patent by August. Edward G. Palmer, the company's founder, and U of M Professor Ephraim M. Sparrow invented the new technology. They originally • conceived the technology as a method of enhancing attic heat collection. However, it has now expanded into a revolutionary new approach to the ventilation of attics. Ed Palmer, SolarAttic's President and CEO, said: "Visualize a circular duct, at the attic's peak, with holes in it. The holes begin small at one end of the duct and get progressively bigger as you go down the length of the duct. At the other end, the duct is capped or sealed. This new duct allows uniform collection of air, heat and moisture along its entire length. It is flexible and easily adapts to odd shaped attics. The company an P Y can design it for any length, size or ventilation application. When attached to any of the company's attic-based heat exchange systems, heat transfer becomes more efficient. As an alternative, the duct attaches to a simple fan and exhaust port, with temperature and humidity controls. This creates a new ventilation product. The duct then becomes an efficient means of ventilating the attic from within the structure itself. The company calls this new product the 'SolarAttic Ridge Ventilator.' • — MORE -- SOLAR Without PANELSTM 4) .SolarAttic, Inc. 15548 95th Circle NE,Elk River,MN 55330 (612)441-3440 Fax(612)441-7174 For Immediate Release: Contacts: Mar..1, 1995 Jim Kantorowicz (612) 441-3440 Ed Palmer (612) 441-3440 SolarAttic Announces New Ventilation Technology/Patent Plans Elk River, Minn. (Mar. 1, 1995) -- SolarAttic, Inc. announced today that it has developed a revolutionary new ventilation technology. The company plans to apply p for a U.S. Patent by August. Edward G. Palmer, the company's founder, and U of M Professor Ephraim M. Sparrow invented the new technology. They originally 41111 conceived the technology as a method of enhancing attic heat collection. However, it has now expanded into a revolutionary new approach to the ventilation of attics. Ed Palmer, SolarAttic's President and CEO, said: "Visualize a circular duct, at the _ attic's peak, with holes in it. The holes begin small at one end of the duct and get progressively bigger as you go down the length of the duct. At the other end, the duct is capped or sealed. This new duct allows uniform collection of air, heat and moisture along its entire length. It is flexible and easily adapts to odd shaped attics. The company can design it for any length, size or ventilation application. When attached to any of the company's attic-based heat exchange systems, heat transfer becomes more efficient. As an alternative, the duct attaches to a simple fan and exhaust port, with temperature and humidity controls. This creates a new ventilation product. The duct then becomes an efficient means of ventilating the attic from within the structure itself. The company calls this new product the 'SolarAttic Ridge Ventilator.' • — MORE -- SOLAR Without PANELSTM • SolarAttc, Inc. 15548 95th Circle NE,Elk River,MN 55330 NEWS For Immediate Release:Nov. 14, 1994 Contacts Bill Fredell (612)441-3440,922-3895 or Ed Palmer(612)441-3440 SolarAttic Technology Advances with U of M Design of Heat Collection Tube Elk River,Minn. (Nov. 14, 1994) -- SolarAttic, Inc., a manufacturer of devices that use hot attic air to heat water, space and swimming pools, announced that the University of Minnesota has designed an enhancement to make SolarAttic technology more efficient in collecting solar energy from hot attic air. The enhancement,called a"porous wall duct,"is a flexible,perforated tube which is installed all along the underside of an attic's ridge where attic temperatures are the highest. The tube connects at one end to the intake side of a SolarAttic heat exchanger. The heat exchanger's fan pulls hot air through specially-sized holes in the duct to provide a uniform supply of the hottest air directly into the heat exchanger. The"porous wall duct"takes advantage of the theory that the warmer the air going into the heat exchanger,the more heat energy there is to be extracted. The design was tested initially in the summer of • 1994. Preliminary results show that by using the"porous wall duct,"air temperatures on the intake side of the heat exchanger were significantly higher than temperatures with uncontrolled air intake. Ed Palmer, SolarAttic's President and CEO, said, "The porous wall duct is an important addition to our heat-exchange technology. It gives us total control over the solar energy inside attic spaces; it's a big development." In addition to providing more heat energy, the porous wall duct allows SolarAttic's technology to perform more efficiently in homes that have large attics or attics with unusual shapes or multiple cavities. SolarAttic plans to begin marketing the porous wall duct sometime in 1995, following further testing and product refinements. University of Minnesota Professor Ephraim M. Sparrow directed the development of the design and initial testing of the porous wall duct through the Small Business Program at the University's Center for Interfacial Engineering, a program which assists small companies in technical research and development. Based in Elk River, Minn.,SolarAttic, Inc. manufactures and markets a growing line of solar energy products that use solar-generated, hot attic air in place of traditional solar collection panels. • SOLAR Without PANELSTM