Contacts: Tony Hozeny, Department of Commerce, 608-267-9661
Laura Smith, Office of the Governor, 608-261-2162
MADISON—Governor Jim Doyle today announced that Xolve, Inc., Platteville, Grant County, has received the Qualified New Business Venture certification from the Department of Commerce (Commerce).
The company’s certification by Commerce makes investors in Xolve, Inc. eligible for a 25-percent tax credit on the amount they invest in the company.
“Spurring more venture capital investment is essential to the state’s economic growth,” Governor Doyle said. “By encouraging investors to make crucial investments, we are turning great ideas into viable, job-creating businesses. Today, new technology firms are starting and expanding all across Wisconsin.”
Xolve, Inc. was formed in 2008 under the name Graphene Solutions. The company recently changed its name to reflect its broader development of nanomaterials. Nanomaterials can be metals, ceramics, or composite materials that are very small in size. Xolve, Inc. develops and manufactures nanomaterials for research and original equipment manufacturer (OEM) markets. The company uses them to develop manufacturing techniques and products, including solar cells, anti-corrosion coatings and batteries. For additional information, please contact John Biondi, 608-217-6217 or visit http://www.graphenesolutions.com.
For additional information about the Qualified New Business Venture program, please visit http://www.commerce.state.wi.us/bd/BD-Act255-QNBV.html.
