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Bend biz roundup

Onboard Dynamics gets $3M; Bank of Cascades cuts deal with Prime Pacific; and Mother’s expands.

The natural-gas compression tech company Onboard Dynmaics received $3 million in public and private funds to help jump-start its commercial rollout.

Less than two years after receiving money from the U.S. Department of Energy that jump-started the company, Bend-based Onboard Dynamics Inc. has secured another round of funding that will bring the company’s natural gas compression technology closer to commercial availability.

The company announced Tuesday that it secured $3 million in public and private funding. Of that total, $2.4 million will be coming from Advanced Research Projects Agency-Energy, an agency within the U.S. Department of Energy designed to advance technologies that aren’t ready for the market. The remaining money came from the Portland Seed Fund, utility and manufacturing companies and undisclosed private investors.

(READ MORE: Bend Bulletin)

Bank of Cascades plans to buy Seattle-area Prime Pacific Bank for $17.1 million.

Prime Pacific Bank, based in Snohomish County, Washington, in December reported $119.4 million in assets, $94.7 million in net loans and $104.8 million in total deposits, according to the release. The bank has four locations in Snohomish County, according to its website. Snohomish County is immediately north of King County, where Seattle is.

“This opportunity expands our commercial banking footprint in the strong Seattle market,” Terry Zink, president and CEO of Cascade Bancorp, was quoted as saying. “Prime Pacific’s solid commercial and (Small Business Administration) lending expertise is consistent with our strategy to increase our market share of commercial loans in fast-growing Northwest metropolitan markets.”

(READ MORE: Bend Bulletin)

Mother’s Juice Café will open its third location at the Oxford Hotel in downtown Bend.

The Sackins plan to open the downtown Mother’s in September in a 1,900-square-foot space formerly occupied by Luv’s Donuts. Mother’s specializes in fresh, healthy foods and cold-pressed juices. Mike Sackin said the hotel corner is a natural spot for Mother’s.

“The clientele that they bring is our clientele,” he said Tuesday.

(READ MORE: Bend Bulletin)

RELATED NEWS: Bend to consider hydro projects; Hydro Flask swells overseas operations; Bend city officials and union take collaborative approach to negotiations.

Last modified onWednesday, 27 April 2016 11:24

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