A Biddeford startup that provides advanced metallurgical products for industrial uses has closed on a $500,000 minority investment from CEI Ventures Inc.
Junora Ltd. designs and builds unique manufacturing equipment, while also developing a specialized energy source needed for the manufacturing process. The equity investment will help accelerate the company’s efforts to bring new technology to rotary sputtering, a process used by the vacuum coating industry, according to a statement announcing the investment.
CEI Ventures is a financing arm of Coastal Enterprises Inc., an economic development agency based in Brunswick.
Junora currently employs 12 people and expects to grow over the next several years. The company is also engaging CEI’s Workforce Solutions group to help with training and recruitment for staffing skilled positions.
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