History

January

CrossRate attends Jamfest, an event sponsored by the US Air Force where the GPS signal is "Jammed" and companies can evaluate their navigation technology in a GPS jammed environment.

CrossRate partners with Coastar Marketing to represent the CrossRate products in the Southeast US.

February

CrossRate attends the Miami International Boat Show and receives the Innovation Award Honorable Mention.

March

CrossRate attends the Maine Boat Builder's Show.

September

CrossRate moves into new offices at 32 Tandberg Trail. A short move down the road but our first real offices space.

October

CrossRate attends the National Marine Electronics Association conference at the Sanibel Harbor Resort in Florida.

November

CrossRate elects Ed McKersie to its board of directors.

CrossRate hires Dan Pagano as Director of Engineering.

CrossRate promotes Mike Leathem to Vice President of Applications Support and Service.

December

CrossRate Launches eLGPS 1110!!

February
Pravesh Asthana joins the CrossRate team.

September

CrossRate attends the 2008 National Marine Electronics Association show.

October

CrossRate attends and presents at the International Loran Association / Royal Institute of Navigation annual conference.

Zachariah Conover is elected Vice President of the International Loran Association.

John Harrington joins the CrossRate Team.

CrossRate attends the Fort Lauderdale International Boat Show and sees strong interest in the eLGPS 1110.

December

CrossRate attends the St. Petersburg Boat Show where Zachariah Conover presents on Electronic Navigation.

May
CrossRate begins work with the University of Maine to develop an integrated GPS/eLoran receiver development platform for the Federal Aviation Administration.

July
Zachariah Conover is appointed to the International Loran Association Board of Directors.

September
CrossRate partners with Enercon for development and production.

October
CrossRate presents two papers at the International Loran Association Conference. One on the commercial potential of integrated eLoran/GPS receivers and a second on the development platform developed in conjunction with the University of Maine.

CrossRate presents a paper on the eLoran/GPS development platform at the Royal Institute of Navigation conference in London.

CrossRate closes on a round of financing which includes support from the Small Enterprise Growth Fund, the Maine Technology Institute, the Finance Authority of Maine, and several angel investors.

Joseph Bauman joins the CrossRate team.

November
CrossRate graduates from the Maine Center for Enterprise Development.

Basavaraj Hiremath joins the CrossRate team.

January
Neelima Nagatu, an engineer, joins the company.

February
Maine Aerospace joins CrossRate to work on the integration of the GPS and eLoran information.

MarchCrossRate is accepted into the H-1B Technical Skills Training Program. This program provides federal reimbursement to train employees in technical skills.

August
CrossRate completes its Development Award and demonstrates its proof-of-concept prototype receiver to the Maine Technology Institute.

October
CrossRate receives its second Development Award ($397k) from the Maine Technology Institute to fund primary market research, product development, product testing.

CrossRate presents a white paper on eLoran markets and commercialization to the International Loran Association.

CrossRate relocates to the University of Southern Maine Portland Campus with the Maine Center for Enterprise Development.

January
CrossRate receives its first Seed Grant ($10k) from the Maine Technology Institute to conduct secondary market research with the Transformative Knowledge Group.

February
Mike Leathem comes on full time.

June
CrossRate receives its first Development Award ($160k) from the Maine Technology Institute to fund a proof of concept prototype.

July
Narendra Bansal, an engineer, joins the company.

October
Rohit Parakh, an engineer, joins the company.

November
CrossRate receives its second Seed Grant ($6k) to hire a law student intern to conduct an intellectual property landscape review and analysis.

January
CrossRate began as a project for President/CEO Zach Conover while he was completing the Executive MBA program at Drexel University in Philadelphia.

May
The business plan placed third in Drexel University's business plan competition and Zach was offered space in the Laurence A. Baiada Center for Entrepreneurship in Technology to start his company. Zach accepted the offer and CrossRate operated in the Drexel incubator from June 2004 until November 2004.

July
CrossRate forms as a Maine Limited Liability Corporation. Mike Leathem and Henry "Todd" Atkins begin working part-time on CrossRate.

November
Mark Loschiavo joins CrossRate as its founding Board Member.

December
CrossRate Technology relocates to Maine in December 2004 and takes up residency in the Maine Center for Enterprise Development.