Four years ago, Liatris was created as a startup incubator company with no full-time staff. On Tuesday, the company announced plans to expand production of its innovative building material, bringing at multi-million dollar impact to the local economy and attention from the highest levels of Maryland government.
A ribbon-cutting ceremony was held at the Rockville headquarters for Liatris to celebrate the doubling of its physical lab spaces and staff.
The company manufactures an ultra-modern thermal insulation material that can be used in buildings such as housing. The industry standard for this type of product tends to be bulky and made of plastic. Liatris, which means beautiful purple flower in Latin, created inorganic material that is much thinner than normal insulation. It’s also fireproof and performs twice as well, according to Frank Yang, president and CEO of Liatris.
“The foam stuff doesn’t cut it,” said County Executive Marc Elrich. This new type of insulation will help the county’s zero emissions goal and create less expensive housing, he added.
The state of Maryland contributed $800,000 toward the company’s expansion, while Montgomery County gave $60,000 in funding. The City of Rockville offered technical support.
Liatris started with one part-time worker in a garage about five years ago. It now has 11 employees. Plans call for the addition of 15 more staff in the future and the addition of 4,000 square feet of lab space to its existing 5,000 square-foot facility. The residual effects of the company’s expansion will result in more than 100 jobs, and will generate more than $20 million in economic impact in the Rockville area over the next three years, according a statement from Governor Wes Moore, who was in attendance at the ribbon-cutting ceremony.
Maryland State Sen. Cheryl Kagan and Del. Ryan Spiegel from District 17 were also in attendance.
Governor Wes Moore places a Maryland-themed pin on the daughter of Liatris Lab CEO Frank Yang as her younger sister looks on.
