The State Journal
Published: August 24, 2006

Profiles in Entrepreneurship

A glance at some of the companies so far that have been supported by the $24.5 million made available through professional investment funds.

By: Pam Kasey

Since receiving investment funding the state put up through the Venture Capital Act of 2001, Vested Health, FMW Composite Systems and Augusta Systems have become familiar names. Seventeen companies so far have been supported by the $24.5 million made available through professional investment funds. Here are some of those that may soon become familiar themselves because of that support.

MetalWood Bats, Eleanor

"The sound of a wood bat solidly striking the ball is one of the greatest sounds in sport," MetalWood Bats' Web site reminds us.

MetalWood Bats manufactures and sells a baseball/softball bat that features a traditional wooden barrel and a durable aluminum handle. Billed as "the only wood bat that won't break," the metalwood bat has been certified or licensed by all sanctioned bodies from Little League up to and including the NCAA. MWB targets both domestic and international markets, in which more than 100 million baseball and softball players purchase more than five million bats each year.

New Carbon, Charleston

The Kanawha Valley particularly has a lot of chemical talent, said Bill Taylor of Mountaineer Capital.

"New Carbon is a very small company in our portfolio that is working to extract coal tar and pitches from coal without the terrible pollution that comes from a coking oven, using processes developed at (West Virginia University)," he said.

Pitch is the key ingredient in anodes consumed in the production of aluminum. New Carbon, in collaboration with the University of Kentucky, is working toward a pilot plant to prove its process and bring substantial savings to aluminum production.

Threewide Corp., Morgantown

"Threewide is a software development company that provides data organization and distribution software to the real estate industry," said Rudy Henley of venture investor Mountaineer Capital.

Threewide's ListExporter is a complete set of tools to manage and store real estate and related data and images, according to the company's Web site. ListExporter and ListSecure together minimize the unauthorized use of listing data and images and become a significant tool for enforcing licensing agreements.

"They've gained some traction around the country with their product," Henley said. "It's promising."

Integrated Software Metrics (ISM), Fairmont

ISM develops software defect prediction tools that help organizations deliver better software on time and on budget. Using ISM's Predictive tool suite, defect-prone software can be identified early in the software development cycle, allowing managers, developers or test professionals to focus their efforts and take action, resulting in the reduction of overall risk.

"Just over the past few months, ISM closed a deal where a good deal of development staff at Intuit are going to be using their product," said Greg Clutter of investor INNOVA. "That's one example of a company that's consistently growing."

Troy, Harrisville

Troy produces non-woven synthetic textile products for the automotive, apparel, shoe, filtration and commercial interior markets.

"Warm, comfortable high-pile polyester fleeces find their way into slippers, vests and snuggly cedar-filled pet beds," according to the company's Web site.

Automotive applications are particularly promising: "Product applications include seating trim, luggage compartments, molded door carpets and inserts, package trays and headliners. ... Needlepunch products presently represent less of the textile applications in automotive interiors in the United States compared to Europe and Japan.

It is expected that the domestic use of needlepunch products will increase with expanded applications."