K&K Hardware, Inc. has received $3.5 million in stimulus funds, according to the U.S. Department of Energy.
The funding comes from the Energy Department’s Loan Guarantee Program, which provides $25 million to help businesses with loans.
“Hooten’ hardware is committed to providing an affordable, high-quality, and innovative consumer-facing solution to consumers,” said Greg Hoots, chief executive officer of K&Ka Hardware, in a statement.
“We’ve developed an affordable and innovative solution for the growing number of customers who want to get more done with their devices.”
The company, which manufactures a wide range of products for desktop and mobile devices, has been growing its market share in the electronics industry.
The company was founded in 2006 and has expanded its business to include products that include laptops, tablets, smartphones, tablets and other devices.
“It is great news for our company,” said John Wetherington, CEO of KG Hardware, which is based in Lexington, Kentucky.
“The new stimulus will give us additional financing and allow us to get our manufacturing plants online and operational.
We are extremely excited about our next chapter and the future of our business.”
Hootening’s hardware is designed to be more than just a device for playing games, the company says.
It can also be used as an interface for remote control, as well as for controlling a variety of products.
The startup was created by two college students in 2010.
K&K said it plans to invest more than $10 million over the next six months to expand its manufacturing capacity and expand its distribution network.
The new funds will help Hooten’s continue to expand and develop the products and services that customers need.