CDA Helps CT Businesses

Autotether, Inc. of Chester is a three-year-old company that has successfully patented, marketed and begun selling an innovative marine safety product.

The new system replaces traditional lanyard-style kill switches that have been a boating standard for decades. The lanyard or cord physically attaches the boats operator to the ignition system. In the event of an emergency, the lanyard would be pulled from the ignition and would disable the boats engine.

Many boaters avoid wearing traditional lanyard-style kill switches because of the great limitations to the boater’s mobility, and also because they can cause unintentional shut-downs. However, not wearing it poses serious risks. The Autotether system solves this problem by connecting the operator, and up to three additional passengers via a wireless transmitter that allows for free and comfortable movement on the boat. In the event of the operator falling overboard the system immediately shuts down the boat’s engine. If a passenger were to fall in, the system would sound an alarm warning the operator, but allowing the engine to continue running so that the passenger may be quickly rescued.

With boating season right around the corner, as well as a recent endorsement by a major insurance company, Autotether is expecting to see a dramatic increase in sales in the coming months. In anticipation of this opportunity for growth and expansion, the Connecticut Development Authority (CDA) has approved a direct loan for $250,000 to Autotether for working capital, and to add 16 additional employees.

“We are excited to see that small Connecticut businesses are developing new products and ideas, and Autotether is a wonderful example,” said Stephen Benedetto, Vice President and Lending Officer at CDA. “This innovative product will not only save lives, but will also create new job opportunities for the residents of our state.”