Economic Development Incentive Fund Success Story

FlexEl, LLC

FlexEl, LLC is an expert developer and producer of high tech custom battery solutions for Fortune 500 companies and government agencies. FlexEl was founded in late 2008 to commercialize technology secured from the University of Maryland. In partnership with the Maryland Department of Commerce, the EDI Fund, administered by FSC First, has matched the State’s assistance each providing $250,000 in funding to leverage $9.4M in public/private investment. This collaborative investment is for the relocation and build out of a research, development & manufacturing facility at 4505 Paint Branch Parkway, College Park, MD. The company will retain its current staff of 9 and grow by an additional 38 tech jobs over the next 3 years.

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