April 27, 2004

WILLIAM GRIMBERG TO CHAIR ADVISORY BOARD FOR GREAT LAKES INDUSTRIAL TECHNOLOGY CENTER (GLITeC)

CLEVELAND, Ohio-William Grimberg, the Managing Partner of Consumer Innovation Partners, has agreed to chair the Advisory Board of the Battelle-managed Great Lakes Industrial Technology Center, GLITeC announced today.

"Bill brings a wealth of experience to this position, as he is intimately familiar with GLITeC and northeastern Ohio's interest in encouraging technology-based entrepreneurship," said Priscilla Diem, Executive Director of GLITeC. "He is also actively involved in the development of new products and companies."

"He has been with the Advisory Board since its inception in 1996, and he's the right candidate at the right time," Diem said. "GLITeC is expanding its technology transfer activities to create start-ups, and Bill is an excellent fit. We're proud to have him accept this position."

The Advisory Board advocates for NASA Glenn technology transfer and commercialization both within the immediate northeastern Ohio region and throughout the broader Great Lakes region.

"GLITeC, with the backing of Battelle, has the opportunity to play a significant role in building the economy of Northeast Ohio," says Grimberg. "I look forward to this chance to work with GLITeC to accelerate and strengthen those economic development efforts. Equally important is the fact that Battelle has a strong presence in Cleveland, which is important for maintaining the relationships and network that allows us to practice significant technology commercialization."

Consumer Innovation Partners, LP (CIP) is a private equity investment fund organized to create consumer products companies, a mission that is well-aligned with GLITeC's core activities. Grimberg is responsible for structuring investments and overseeing companies created by the fund and for managing the fund's operations.

Prior to founding Consumer Innovation Partners, Grimberg served as Vice President for Business Development at MCT Corporation; Chairman of the Department of Institutional Advancement at the Cleveland Clinic Foundation; Associate Director of Cleveland Tomorrow, and Director of its Technology Leadership Council; and Director of Development for the Playhouse Square Foundation.

GLITeC is NASA's Midwest Regional Technology Transfer Center. GLITeC commercializes technology that contributes significantly to economic activity and improves the quality of life in the Great Lakes region. Regional economic development, in the form of newly created jobs and products, helps assure continued regional support for NASA Glenn and its programs. In the last three years, GLITeC has returned over $44 million of economic impact to the region. As a result of GLITeC's efforts, NASA has developed numerous partnerships with many companies, including well-established large corporations, small companies, disadvantaged companies, and start-ups.

Battelle has managed GLITeC since its creation in 1992. Battelle is a global leader in science and technology. It develops and commercializes technology and manages laboratories for government and commercial customers. Headquartered in Columbus, Ohio, Battelle and the national labs it manages or co-manages have 16,000 staff members and conduct more than $3 billion in annual research and development. Battelle innovations include the development of the office copier machine (Xerox), pioneering work on the compact disc, and medical technology advancements.

For more information, visit www.battelle.org or contact Katy Delaney, Media Relations Manager, at (614) 424-5544 or delaneyk@battelle.org.