News

A profitable pivot (sorta) for Digital Donations

By GREGORY ZELLER // They’re thinking big at Digital Donations Inc., as in Big Data. The Melville tech manufacturer has made its bones providing “alternative fundraising solutions” for nonprofit organizations, including ATM-based and point-of-sale-centered donation options. It even founded a virtual school to train charity-group founders, directors and staffers. Now, the 2014 startup is focusing its tech on for-profit customers – not abandoning its nonprofit doctrine but adding to it, according to co-founder and President…


Feds fund NYIT ‘skeletal repair’ research

A New York Institute of Technology professor has landed a sizeable federal grant to study the bone-healing possibilities of gene-generated “skeletal repair.” The National Institutes of Health has awarded $442,000 to life sciences professor Michael Hadjiargyrou, who will use the multi-year grant to study Mustn1, a newly discovered musculoskeletal-specific gene, and “determine its role in cartilage regeneration and skeletal repair,” according to NYIT. Hadjiargyrou’s research will also shed light on a new and as yet…


Debrief: Happy landings with Daniel Preston

With the fate of Riverhead Town’s Enterprise Park at Calverton still very much in the air, Daniel Preston would like to throttle things back a bit. Half-truths and wild speculation have been part of the EPCAL story since Grumman pulled out a quarter-century ago, and CEO Preston’s Luminati Aerospace LLC, which is looking to purchase the storied property for $40 million and revive Long Island’s dormant aerospace industry, has not been spared: It’s already parted…


Strong 4Q sales lift NAPCO to record year

NAPCO Security Technologies Inc. Headquarters: Amityville Industry: Consumer durables Nasdaq: NSSC Reporting Date: Sept. 5, 2017 Reporting Quarter: 4Q FY2017 Quarter Ended: June 30, 2017 Numbers: Net sales for 4Q FY2017 were $25.7 million, up 7 percent from the same quarter last year. Earnings per diluted share for the quarter were 17 cents, off a penny from the 18 cents reported in 4Q FY2016. At the close of its fourth quarter, the company had $3.5…


Tomorrow’s health tech to shine at LICA Capital Forum

By GREGORY ZELLER // Another intriguing combination of presenters and panelists marks the next Capital Forum on the Long Island Capital Alliance’s schedule, this one focused on the lifeblood of the Island’s innovation economy. Following a June networker centered around cybersecurity startups and a March pitch-a-thon spotlighting early-stage technology firms, the latest Capital Forum returns to healthcare, a Long Island socioeconomic cornerstone that has naturally become a go-to theme for LICA and its (roughly) quarterly…


A century later, new life for old FSC power plant

More than a century since it was built and years since it’s been anything more than a memory, a vintage Farmingdale State College structure is about to be reborn. College officials will mark the completion of a $12 million renovation of Conklin Hall, a circa-1914 building that housed the college’s original heating plant, with a special ribbon-cutting ceremony Sept. 5. The refurbished Conklin Hall will serve as the new home of the FSC student government,…


Investors buying in as FalconStor hatches risky plan

By GREGORY ZELLER // Investors are doubling down on a Melville software company with a tarnished financial record and a sterling data-storage product. Texas-based private equity firm ESW Capital LLC has purchased nearly 1.4 million additional shares of FalconStor Software, according to a U.S. Securities and Exchange Commission filing disclosed Monday. The transaction, which closed Aug. 23, was made at 37 cents per share, for a total value of $511,667.08. The deal gives ESW Capital…


Global nod marks major milestone for Applied DNA

By GREGORY ZELLER // An esteemed international certification organization has stamped a ginning company tracking its cotton supplies with the help of Applied DNA Sciences. The Global Organic Textile Standard certification is another feather in the cap of the Stony Brook biotech, which has long banked on cotton and other textile-focused industries as a business-development cornerstone. The certification was awarded to Woolam Gin of Texas, an Applied DNA “ginning partner,” by Netherlands-based Control Union Certifications,…


Northwell: Blame Obamacare for CareConnect’s demise

By GREGORY ZELLER // A key component of the Northwell Health system’s core strategy to manage entire health populations is coming off the table. The health system announced late Thursday that it’s pulling the plug on its East Hills-based CareConnect Insurance Co., which has grown to cover some 125,000 customers since launching as New York State’s first provider-owned commercial insurance company in 2013. While it remains committed to “fortifying its population-health capabilities,” Northwell is “winding…


Suffolk IDA engineers deal for new national HQ

A corporate consolidation in Melville is in the works, thanks in part to the Suffolk County Industrial Development Agency. The agency on Thursday issued preliminary approval for a transaction that will help Grace Industries LLC establish a national corporate office – a $17 million company investment that will consolidate several of the civil engineering firm’s existing offices in the new Melville HQ. Grace Industries, a subsidiary of the Plainview-based civil engineering conglomerate Haugland Group, currently…


It’s green-o vino as Paumanok turns up SunPower

By GREGORY ZELLER // The sun is doing more than nourish grapes at Paumanok Vineyards. The award-winning Aquebogue vineyard is now partially powered by a 51-kilowatt solar-energy system installed by Island Park-based EmPower Solar, Long Island “master dealer” for California-based solar-energy company SunPower Corp. The system, which complies with the New York State Energy Research and Development Authority’s Remote Net Metering program, is predicted to save the vineyard more than $8,000 in its first year…


Debrief: LIU innovation chair, not in Kansas anymore

As the first person to occupy Long Island University-Post’s Vorzimer Endowed Chair in Entrepreneurship – the “charter chair,” according to the school – Dane Stangler is all about breaking new ground. The visiting (and first-time) professor, who will also help drive LIU Post’s T. Denny Sanford Institute for Innovation and Entrepreneurship, will leverage lessons gleaned during an impressive rise to nationally renowned entrepreneurship expert, including a term as VP of research at the Ewing Marion…


With Fly Sense, the bullied need not suffer in silence

By GREGORY ZELLER // A high-tech Long Island manufacturer has unveiled a next-level sensor system that can remotely detect bullying situations in schools and alert officials in real time. Digital Fly, a 2015 startup spun out of Hauppauge product-design ace Intelligent Product Solutions, has added the Fly Sense sensor system to its growing list of school-safety solutions. The cloud-based, Internet of Things-synched system is billed by the company as an “anti-bullying and vaping detector/sensor,” equipped…


At BNL and SBU’s nuclear center, the force awakens

By GREGORY ZELLER // A new force is rising in the exploration of the physical universe. Brookhaven National Laboratory and Stony Brook University on Tuesday announced the launch of the Center for Frontiers in Nuclear Science, a research hub built to explore “the least understood and strongest force behind visible matter,” according to the university. Supported by a new $5 million grant from the Simons Foundation and some $3 million in research grants awarded to…


Southside Hospital welcomes Island’s first Baby Café

Long Island has welcomed its first Baby Café. Presenting free educational resources for pregnant or breastfeeding women and a place for those women to share their experiences with other moms, a Baby Café has opened inside the Northwell Health system’s Southside Hospital in Bay Shore. Based on the precepts of the national nonprofit group Baby Café USA, the Island’s first official breastfeeding “café” – in essence, it’s more of a school – was made possible…