ACET to Break Ground on $8 Million Life Sciences and Environmental Technology Facility in Alameda
Alameda, Calif. - On June 2004, the Hon. Phillip J. Bond, Under Secretary of Commerce for Technology will deliver the keynote address when ACET breaks ground on its new, expanded life sciences and environmental technology facility on a 3.47-acre site at the former Fleet Industrial Supply Center (FISC). ACET, a unique combination of a wet laboratory based incubator and a strong, international trade program, is a small-business accelerator, shepherding bio and environmental businesses through the early phases of their development.
ACET will host a mix of representatives from the life sciences industry, overseas trade, federal, state and local government, including the BioIndustry Initiative's Russian delegation to BIO2004.
In 2002, Secretary of Commerce Don Evans flew to California to present ACET President and CEO, Sam Doctors, with a check for $6.44M, effectively launching ACET's expansion with land purchase, facility design and construction funds.
Property purchase and new building construction are funded through a $6.44M grant from the U.S. Department of Commerce Economic Development Administration (EDA) and $1.61 million of in-kind contributions from the City of Alameda.
Alameda is centrally located to the major biotechnology companies, the federal laboratories, to the major life science research facilities at the University of California, Berkeley, the University of California, San Francisco, and Stanford University. The new, 30,000 ft2 facility will create a focal point for small high technology business development in the San Francisco Bay Area.
An $8 million project, the expanded ACET facility will consist of a mix of small (420 sq ft), and medium (840 - 2500 sq ft) wet-laboratories, offices, a 125-seat auditorium, large and small conference rooms, and outdoor event space.
Upon opening in the fall of 2006, it will house domestic and foreign startup companies, an international trade program and be a venue for small conferences and in-bound trade missions.
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