LAKE LINDEN - Although a Lake Linden company didn't win at a business plan competition downstate, the trip down still had benefits, said the company's owner.
GreenSand Corp., which will be recycling stamp sand to produce roofing shingles, was one of 52 semifinalists competing in the Accelerate Michigan Innovation Competition. Held Wednesday and Thursday in Ypsilanti, the contest offered a $500,000 grand prize as well as smaller prizes to companies that judges felt best highlighted Michigan as a place to do business.
While judges responded most favorably to products related to the automotive industry, four outside investors showed strong interest, said GreenSand owner Domenic Popko.
"Accelerate Michigan funding would have been nice to have, but it doesn't impede us from what our mission is," he said. "We're already doing it."
Greensand owns mineral rights to an estimated 25 to 90 million tons of stamp sand on the Lake Superior shoreline near Gay. The copper from the sand helps to prevent algae and mold growth, desirable traits in shingles.
The company gave a five-minute elevator pitch about its product, in which they tried to stress that "we have a premier roofing granulate shingle for the shingle industry in this moment," Popko said.
Popko developed GreenSand along with Michigan Technological University scientists Jim Hwang and Bowen Li, as part of Tech's effort to bring university research to the marketplace. Since 2007, GreenSand has also worked with Tech professor Ralph Hodek, Michigan Tech Enterprise Corporation SmartZone program director Jonathan Leinonen, and Jim Baker, Tech's executive director of innovation and industry engagement. Popko credits Leinonen to introducing them to Accelerate Michigan.
GreenSand is now working with MJO and Tech to produce 100 tons of test shingle granulates. Shingle manufacturers typically need between two and 20 tons of material to do a large-scale test, Popko said.
Though they didn't come away with the prize, Popko said Accelerate Michigan was a positive experience.
"It's always healthy to promote your product," he said. "It's good to get feedback."