FFCFC 504 Funds a Cool Manufacturer

Rini Technologies (RTI) was incorporated in 1997 and it began research on innovative thermal cooling systems for both military and commercial applications soon after. Originally housed in the University of Central Florida’s Technology Center, Daniel Rini’s company applied to FFCFC for 504 financing in April 2005 to accommodate its growth by purchasing a 12.000 square foot building located at 582 South Econ Circle in Oviedo for $1,411,000. The 504 was funded in September 2005 and the company moved to Oviedo shortly thereafter.

“This project could never have been financed without the SBA’s 40% second mortgage,” said Todd Kocourek, President and CEO of FFCFC. “Conventional lenders always require two sources of repayment on a loan this size and do not rely on projections for proof of repayment ability. It follows that without the 504, RTI would have been unable to purchase this building and would have lost the chance to grow and develop.”

Rini was recently recognized by the Metro Orlando Economic Development Commission for its original and inventive work. Currently conducting research on miniaturizing existing cooling system platforms without a significant loss of cooling capacity, these systems can be used to cool high powered lasers would have commercial, as well as military, value in the manufacturing of lasers and water chillers.

A recent article in the Orlando Business Journal reported that the U.S. Army was currently evaluating a lightweight personal cooling vest that was developed by RTI. The vest is expected to be ready for troop usage by next summer and may well help keep our soldiers cooler in desert conditions. The article, under the byline of Chris Kauffman, went on to say, “Dan Rini’s very cool company may be ready to heat up.” The device weighs no more than six pounds, runs off batteries and produces a temperature of 68 degrees F. and is about the size of a brick.

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