Hydrodec Inks Major Agreement – Hydrodec announced an agreement with Consolidated Edison Company of New York (Con Edison) to re-refine used transformer oil. The agreement is for a period of three years and calls for a minimum of 450,000 gallons per annum. The oil will be re-refined and converted into SUPERfine at Hydrodec’s Canton, Ohio plant. Hydrodec provides advanced oil and chemical process technology, products, and services to industrial customers. Hydrodec’s advanced oil refining process is revolutionizing the manufacture and supply of valuable oils. The process allows transformer oils to be re-refined an indefinite number of times into SUPERfine transformer oil, which has specifications equivalent to or better than that of new transformer oil. David P. Roche, a senior scientist in Con Edison’s environmental health and safety group, had this to say: “By supplying our oil to be safely refined by Hydrodec, our environmental stewardship is maximized, conserving a valuable petroleum resource and providing sustainable, high quality transformer oil to the electric industry.” To read more about the partnership between Hydrodec and Con Edison, click here.
Stark Community Foundation Invests in the NEO Capital Fund – A group of Northeast Ohio institutions have committed $16 million to the NEO Capital Fund, an investment fund that provides money to venture capital firms with a Northeast Ohio presence or focus. The NEO Capital Fund is a “fund of funds” that resembles a mutual fund and invests in a portfolio of venture capital firms. The goal is to invest in venture capital firms that, in turn, assist the region’s fledgling companies or entrepreneurs. One of the institutions is the Stark Community Foundation located in Canton, Ohio. The Stark Community Foundation is dedicated to promoting the betterment of Stark County and enhancing the quality of life for all of its citizens. In 2007, the Stark Community Foundation had total assets of $174,259,528 and total gifts to the community of $9,197,764. For the investors, the NEO Fund is a natural outgrowth of grant making; institutions can invest a portion of their endowments in a sound investment vehicle while simultaneously helping the local economy. The NEO Capital Fund is managed by an affiliate of Buckeye Venture Partners, which also manages the Ohio Capital Fund. To read more about the investors’ commitment to economic development, click here.
Canton Hosts Japanese Blockbuster “Kimono” – The Canton Museum of Art is hosting “Kimono as Art: The Landscapes of Itchiku Kubota.” Canton is one of two locations in the United States to host this exhibit. It came to Canton after a successful first stop at the San Diego Museum of Art, where it earned the honor of being voted the “best art event of 2008.” The exhibit is presented in cooperation with Arts in Stark and is sponsored by The Timken Foundation of Canton, as well as by more than 30 companies and individuals. Japanese Master Itchiku Kubota used specially made kimono as the canvas for his landscapes. Featured in the exhibit are 40 oversized silk kimonos, including the panoramic tapestry “Symphony of Light” made up of 30 kimonos. One hundred volunteers have teamed up with the museum and Arts in Stark to create an 80 event cultural celebration that is offering up everything from Japanese tea ceremonies to bonsai tree demonstrations to sumo wrestling. To read more about the exhibit and the artist, click here.
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