reXorce Thermionics, a tenant in the Akron Global Business Accelerator, just received a $5M deal with an European investor.

According to the article in the Beacon Journal, reXorce plans to use the money to hire up to 12 new engineers and locate a new base of operations.  While the Akron location has been “incredibly supportive in handling their growth” it simply isn’t big enough to handle the demonstrations systems reXorce plans to build.

reXorce is not looking for a new building however.   Their plan is to locate an old, unused building and renovate it into an advanced energy showcase.

COO Phil Brennan, as quoted in the article:

We are surrounded by resources we misuse.  The cost in energy to tear down a building and put up a new one is irresponsible. We’d rather bring an old building back to life.

Wait - an advanced energy company in Northeast Ohio gets a $5M investment and they not only want to stay in the region, but are socially responsible too?

NEOinc sure knows how to pick ‘em!

(Thanks to Paula Schleis, Beacon Journal business writer, for her continued focus entrepreneurial activity in the Akron area.  We need a few more Paula’s around the region!)