RALEIGH, N.C. (September 9, 2009) Hughes Pittman & Gupton, LLP (www.hpg.com), the largest CPA firm headquartered and staffed in the Research Triangle Park region of North Carolina, congratulates clients Innovatech Inc., and PlotWatt (formerly VisibleEnergy) for receiving more than $90,000 in grants from the North Carolina Green Business Fund. The competitive grants are a part of Governor Bev Perdue’s JobsNOW initiative.
HPG has developed a Clean Tech team to help startups and established businesses address the accounting of collaborative agreements, grants and contracts, and complex equity transactions.
Innovatech Inc. has received a $53,000 grant to fund the development technology for harvesting algae as a non-food feedstock for bio-diesel production.
PlotWatt, a cleantech startup helping consumers reduce their electricity consumption, was awarded a $40,000 development grant to refine software and expand pilot testing for its real-time energy analytics platform.
“At HPG, we recognize the importance of a green economy and are proud to support companies that are taking the lead,” says Lauren Joyce, lead for the HPG Clean Tech team. “These companies are setting an example that it is both possible and rewarding to be environmentally conscious.”
HPG offers specialized knowledge of tax incentives and grant accounting requirements. Team members participate in a number of local and national groups including the NCTA Green Council, SJF’s Renewal Energy Business Network and NC Sustainable Energy Association. This assists them in providing clients with information about local green-business networks, as well as government and private funding opportunities.
On August 7, 2009, Gov. Perdue signed House Bill 1481 to strengthen state energy policy leadership and announced 14 Green Business Fund grants. The actions are part of a three-pronged strategy to establish North Carolina as a leader in green economy jobs.
HPG is the largest CPA firm headquartered and staffed in the Research Triangle Park region of North Carolina, as ranked by the Triangle Business Journal. Furthermore, Business Leader magazine ranked HPG as the fifth most successful small business in North Carolina in 2008. HPG is able to provide national and global accounting resources to its clients through the CPAmerica firm network of 701 offices worldwide. HPG offers a wide array of business accounting, auditing, corporate tax, and management advisory services. Specialties include serving owner-managed, investor-backed technology and life science, healthcare services, real estate development, manufacturing and distribution businesses, and providing ERISA audits, family wealthcare services and Sarbanes-Oxley internal audit services. More than just an accounting firm, HPG assists clients in looking beyond the bottom line by being the right people, right value and right firm to achieve each client’s definition of success. Visit www.hpg.com.
Innovatech specializes in dynamic, self-cleaning filtration solutions. The company’s patented technology does not use media filters that clog and require replacement, and can be adapted to provide clean air/fluid, remove and capture entrained particulates, or to classify fine particles by size or shape. In response to growth opportunities for industrial automation, the company formed Solara Automation, a subsidiary which brought together Innovatech’s project management and technology development capabilities with a seasoned team of designers and engineers to design, prototype and build solutions for new manufacturing processes and equipment. For more information, visit www.solaraautomation.com.
PlotWatt, formerly named VisibleEnergy, was founded in 2008. The company was the consumer products winner in the 2008 Duke University Startup Challenge as well as a graduate of the Center for Entrepreneurial Development’s FastTrac Tech program. The company’s initial offering uses the analysis of real-time electricity data to find the sources of individual homes’ energy waste. Presently in alpha testing, PlotWatt has successfully delivered energy bill reductions in excess of 50 percent for pilot users. For additional information, visit www.plotwatt.com.