Packaging solutions provider Sealed Air is investing $4m to expand the Kevothermal business in Albuquerque, a city located in the US state of New Mexico.
New Mexico Economic Development Cabinet Secretary Matt Geisel has announced that Kevothermal will expand its Albuquerque manufacturing operations creating about 20 new jobs.
The State of New Mexico will provide up to $300,000 for the expansion via its closing fund, dubbed LEDA. Bernalillo County will serve as the fiscal agent for the LEDA award.
Kevothermal vacuum insulation panels are utilized in packaging, stationary refrigeration, transportation refrigeration, electronics, and specialty insulation.
The panels offer protection for critical shipments like biopharmaceuticals, vaccines, tissue samples and clinical trials.
The company’s ultra-thermal insulation is claimed to reduce energy costs. The technology, which was developed in UNM’s Department of Engineering in the early 1990s, is now utilized globally.
Geisel said: “This is another prime example of how New Mexico’s economic development tools make a prominent difference for business retention and expansion – I am proud to see Kevothermal choosing to expand in Albuquerque.”
Sealed Air’s business has two manufacturing plants, located in Albuquerque, and Shropshire, UK. It also has production, distribution, R&D, sales and marketing operations in Albuquerque, New Mexico and in the UK.
Kevothermal technical director of temperature assurance Mark Connell said: “Kevothermal, a wholly owned entity of Sealed Air, has been in the Albuquerque area since 2007 and we are pleased to continue our growth and further intrench our roots here.
“We appreciate the assistance we’ve received from Albuquerque Economic Development and the State of New Mexico to make this expansion.”
Sealed Air manufactures vacuum insulation panels (VIP), under the brand name of Kevothermal. The company said these are seven to ten times better in insulating performance, compared to conventional insulation.
Shippers made with Kevothermal VIPs are smaller and lighter, enabling pharmaceutical firms to ship temperature dependent drugs over long distances and internationally, since the shipper will keep the drugs at temperature for more than five days.