Governor Rell Announces First Investment

Through Connecticut Clean Tech Fund

            Governor M. Jodi Rell today announced that Oil Purification Systems (OPS) of Shelton will receive up to $500,000 through the Connecticut Clean Tech Fund, the first investment by the fund established last year to build a green technologies industry in the state by boosting companies that find innovative ways to conserve energy and resources, protect the environment or eliminate harmful waste.

            “The goal is very simple – create jobs in what we see as a major growth industry,” said Governor Rell, who announced the creation of the fund in November. “Projects like this will not only help increase the number of green technologies jobs in the state now, they will help ensure that Connecticut is a preferred location for new businesses tackling climate change and other global challenges.

            “Investments in companies like Oil Purification Systems dovetail neatly with the support we have provided to companies with federal stimulus money,” the Governor said. “That’s why OPS makes an outstanding first client for the Connecticut Clean Tech Fund. The fluid-cleaning technology developed by OPS is a groundbreaking solution that helps companies in a variety of industries reduce their oil consumption while contributing to a cleaner, healthier environment.”

            The fluid cleaning technology developed by OPS – including the company’s OPS-1 onboard fluid cleaning system – removes solid and liquid contaminants from engine oil, virtually eliminating the need for routine oil changes. The company has 11 employees in Connecticut, 17 in total, and is expected to create an additional seven positions in the state over the next three years as a result of the state’s investment.

            “With the support of the Connecticut Clean Tech Fund, OPS is able to develop environmentally innovative solutions and create clean technology jobs right here in Connecticut,” said Greg Slawson, the company’s chief operating officer. “We are grateful for this support and delighted that we can help Connecticut be at the cutting edge of clean tech.”

            The Clean Tech Fund is administered by Connecticut Innovations, the state’s quasi-public authority responsible for technology investing and innovation development. The fund was formed through a partnership between CI, the Department of Economic and Community Development and the Connecticut Clean Energy Fund.