Arbor Plastic Technologies scores $250K from Michigan Pre-Seed Capital Fund

Arbor Plastic Technologies has landed a $250,000 investment from the Michigan Pre-Seed Capital Fund, money the start-up will use for development of its plastic-additive technology.”It will really jump start the company,” says Dan Caton, president of Arbor Plastic Technologies. The specialty chemical provider is developing technology its two founders discovered at an intellectual property company based in Ohio. The Sterling Heights-based firm now has four employees, a handful of independent contractors, and a few interns readying the product for commercialization.”Our technology allows (plastic manufacturers) to run their businesses better,” Caton says. “It reduces their product cycle so it directly impacts their bottom line.”The funding was secured with the help of the Macomb-OU INCubator and will help pay for Arbor Plastics Technologies’ product development through acquisition of raw material and more staff. Caton expects his company to reach $2 million in revenue and a staff of 10 within the next year.Source: Dan Caton, president of Arbor Plastic TechnologyWriter: Jon ZemkeRead more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.