Small business a success in a struggling economy

Milford, Conn. (WTNH) -  As Connecticut businesses struggle in the midst of the recession, one Milford company was showcased today to Governor Malloy for its success despite facing challenges in a rocky economy.

Governor Dannel Malloy visited Avalence to get a close up look at how a green energy company continues to grow despite a dismal economic picture.

Gov. Malloy said, "The only thing worse than a very slow recovery, which is what we are in, is a double dip recession. Could be a reality? I think based on Repulican policy making it in Congress, it is increasingly a possibility."

Innovative design is what keeps Avalence in Milford afloat, refining the technology to capture hydrogen as fuel energy.

Deborah Moss is the Chair and Founder of Avalence. She said, "The hydrogen technology that we've been working on is 8 years old. We are at a point now that we are certifying our design. We are standardizing it so it is readily accessible for export."

Still Moss says Connecticut businesses like Avalence face challenges.

"We operate a lean company. It's very difficult for small businesses to get backing from a traditional bank. It's very difficult even to attract investment capital because the industry is emerging," said Moss.

Already this year the company has expanded, filling high paying positions.

Moss said, "The more innovative technologies are being deployed. We are going to be installing stations in Hamden and Hartford to be dedicated to powering fuel cell powered fleets."

"This whole explosion of fuel cell technology and the use of hydrogen as a fuel is exciting. Connecticut is at the forefront of that and I think it represents real opportunities for job growth in Connecticut," said Gov. Malloy.