NSU, E2F and Face Sign LOI for Piezoelectric Center

July 25, 2002 by Jeff Shepard

Norfolk State University (NSU, Norfolk, VA), the Enterprise and Empowerment Foundation (E²F), and the Face Companies of Norfolk (Face) have signed a letter of intent (LOI) to work together to develop a technology research and commercialization center adjacent to the NSU campus that would specialize in emerging piezoelectric technologies. Specifics of the relationship are to be negotiated.

The $100.0 million Research and Innovations to Support Empowerment (RISE) Center is to be constructed on 25 acres south of the NSU campus. The RISE Center will include facilities for academic, research and commercial activities, such as classrooms, laboratories, offices and manufacturing space. Although the RISE Center will not open until 2005, NSU, E²F and Face plan to begin work on the piezo project immediately. The new piezoelectric center is expected to form affiliations with other universities, federal labs and additional private-sector partners as these technologies mature.

"Face’s alignment with NSU and E²F is a potential big winner for all three parties,” stated Face Chairman and CEO Brad Face. “Our technologies give NSU and E²F the kind of opportunity they were looking for to take a leadership position in an important cutting-edge technology. The affiliation with NSU and E²F gives Face a chance to advance its research and business interests more efficiently and economically. This is a package of incentives that we believe can be used to attract other companies to participate as we go along."