Posted November 9, 2017
MF Fire gets first investment from Maryland Momentum Fund
University of Maryland, College Park, startup MF Fire received the first investment form the University System of Maryland’s Maryland Momentum Fund, the system announced Thursday.
MF Fire will receive $192,500 from the momentum fund as part of an initial funding round of $1.2 million. The investment from the Maryland Momentum Fund is the first by the $25 million fund created by the Board of Regents in 2016.
“The Maryland Momentum Fund embodies our goal of maximizing resources throughout the University System of Maryland and enhancing the system’s economic value to the state,” said Robert Caret, the system’s chancellor. “I am pleased the Maryland Momentum Fund has selected as its first investment MF Fire, a cutting-edge technology that was developed by keen young minds at (the system’s) flagship campus in College Park.”
MF Fire was developed by two graduate students in the Department of Fire Protection and Engineering. Ryan Fisher and Taylor Myers developed an eco-friendly wood stove. The stove is designed to deal with strict emissions standards that have cut back on the number of wood stoves available on the market.