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Evansville Loan Board approves $125,000 EDA loan to Heliponics for automation equipment
Summary
The City of Evansville Loan Administration Board approved a $125,000 EDA loan to Heliponics/Anew to buy automation equipment for its C pod consumable. Approval included conditions requiring verification of capital sources, equipment sourcing, perfected security and a personal guarantee; interest-only through 2026.
The City of Evansville Loan Administration Board voted to approve a $125,000 Economic Development Administration (EDA) loan to Heliponics LLC/Anew to finance automation equipment for production of its "C pod" consumable.
Scott, the applicant, told the board he was "seeking automation equipment to scale the manufacture of our C pod consumable, which is a k cup equivalent on a recurrent residual…
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