Colorado Therapeutics, Solid Power expanding with moves to CTC

LOUISVILLE — Denver-based Comunale Properties has landed two tenants for its industrial/flex building at the Summit at Colorado Technology Center in Louisville, the first phase of a project built on speculation.

Colorado Therapeutics LLC will move from a building it leases from Comunale in Broomfield to 33,600 square feet, and Solid Power Inc. will move within the CTC to lease 19,200 square feet in a 62,400-square-foot building at 486 S. Pierce Ave. The moves represent expansions for both research-and-development companies.

Comunale Properties is building out the remaining 9,600 square feet as spec space, with delivery in late summer.

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Because of the interest in the development, Comunale Properties said on Tuesday that it will begin construction on the second phase of the project in June, consisting of 41,440-square-foot building divisible down to 10,400 square feet at a site one block away, on the northwest corner of Dogwood and Cherry streets in the CTC. The space is expected to be available in early 2018.

Colorado Therapeutics is a researcher, developer and manufacturer of a product used by doctors to repair soft tissue. According to a prepared statement, the product offers strength, thinness and biocompatibility in a dry form that is delivered to doctors ready to use right out of the package.

The company, which closed a $4.3 million funding round last year, was spun out of Colibri Heart Valve. Through Colorado Therapeutics, the company is expanding the technology’s application to commercial use in soft-tissue repair, reinforcement and regeneration, and will initially focus efforts on hernia repair.

Colorado Therapeutics will triple its footprint with the lease of 33,600 square feet later this year. The site will serve as the new headquarters for both Colorado Therapeutics and Colibri.

“When we received U.S. FDA clearance of our soft-tissue technology for commercial use, we knew we needed a facility that could accommodate our specific manufacturing needs, provide room to grow and be representative of a world-class medical device company,” Eric Schauble, vice president of corporate development at Colorado Therapeutics, said in a prepared statement. “At Summit at CTC we have the location, facilities and amenities that will improve our employee productivity and work environment and will allow us to attract and expand our high-caliber team to ensure we can bring our life-changing technology to market to address unmet patient needs.”

Solid Power develops next-generation rechargeable batteries for the electric-vehicle market. The batteries are free of volatile or flammable liquid components. Solid Power touts them as being “safer, less expensive, more reliable and longer lasting — and poised to be a game-changer in the electric vehicle market.”

The company was founded in 2012 based on battery technology developed at the University of Colorado Boulder. Solid Power occupies 7,000 square feet in the CTC and will be expanding to 19,200 square feet. The company expects the move to take place in July.

Summit at CTC is part of the CTC business park in Louisville. The site is home to more than 90 companies, due in part to its proximity to both Denver and Boulder labor pools.

Tyler Carner, Jeremy Kroner and Jeremy Ballenger of CBRE Industrial & Logistics Services, and CBRE’s Erik Abrahamson are leasing agents for the property.