Given the ample time and 80-plus page report he had to work from, consultant Rick Hauser wasn’t short on words in a study on Brisbane Mansion. However, three words seemed to capture it best.

“It’s a gem,” he said Monday during a presentation to City Council.  “I love the history of this building, it’s a 107-year-old building. So for starters, that's impressive. 

“It’s at a key location in your community,” he said. “One thing’s clear is that Brisbane Mansion is not being put to its best use.”

Hauser, a partner of Inside Architecture in Perry who has conducted a reuse analysis on the Main Street structure, otherwise known as the current city police station, reviewed the site from top to bottom. 

After reviewing and calculating existing floor plans, construction cost estimates, various options, forensic building timelines, potential grant and other financial incentives, a zoning map, photographs, a condition assessment, and design challenge considerations, Hauser and fellow designer Larissa Reynolds presented what they believed were the two most viable options.

One option is to carve out 11 market-rate apartments, with four two-bedroom and seven one-bedroom units on the first and second floors. All of them would be light-filled with an open kitchen, dining and living concept, comfortably-sized bedrooms and ample closet space, and they strive to maintain existing partitions, opening and architectural features as much as possible, he said. 

Preserving the historic integrity of the building is key, he said, as it is currently a contributing member of the historic district and is on the National Register of Historic Places. Maintaining historic integrity will be a principal selling point, he said.

The business plan includes utilizing grant funding which means renovation plans will be scrutinized as to whether they have an adverse impact not he remaining historic fabric and defining architectural features such as existing facades, structural elements, circulation paths, interior spatial layouts and finishes. 

The second option would be a 16-room boutique hotel containing seven micro units, three deluxe units and six deluxe suites to accommodate different needs and budgets while remaining unique and welcoming. 

“When we're thinking about what we're proposing for this building, we're really thinking about what the building wants to be. Because a lot of things are all set, the location of the building, centrally located to everything basically in Batavia, there is no other kind of lodging or hotels in the city core,” Reynolds said. “The history of it, the quirkiness of it, those are the key ingredients that really make a really nice boutique hotel. A boutique hotel that’s really well managed by someone that's gonna love and showcase the history and the elements of it.”

The most challenging task for these options was to work within multiple “levels within levels” by various additions and renovations done to the building at varying stages and time periods.

Who’s going to want to come in and develop an old mansion-turned-police station? Any number of people, apparently. It’s a tempting opportunity, Hauser said, because of its age: the property qualifies for historic preservation tax credits, which can be very attractive to developers and help provide key capital up front, especially if syndicated, he said. 

New York State is also rich in funding sources, including grants such as Restore NY and Downtown Revitalization Initiative funds, he said. 

What would this all cost a prospective developer? An estimated $3.5 million to $4 million, he said, with revenue for high-end apartments reaping $164,000 a year. 

Councilman John Canale asked if any developers have expressed interest in the site at this point, and City Manager Rachael Tabelski said yes, that Batavia Development Corp. Director Tammy Hathaway has taken a few prospective developers on tours of the property.

Council President Eugene Jankowski Jr., a retired city police lieutenant, knows the building well and looks forward to its next life, he said.

“I love that old historic building. The public should be aware that we're definitely trying to repurpose it,” he said. “And at no time, we haven't even begun to discuss anything other than keeping the building there and repurposing it into something that is hopefully gonna get on the tax roll.”

The process will most likely involve a request for proposals once the city is ready to move forward, Tabelski said, and the police department has its new home at Alva Place and Bank Street.

It was an old show that made for quirky and funny scenarios, but Night Court is a newly organized and costly theme being played out in Genesee County. 

District Attorney Kevin Finnell shared with cou

nty legislators Monday how his slate of assistant district attorneys will answer the call and provide due justice for the county, no matter the time of day or evening. 

“It’s a CAP Court arraignment, so, during the call, they'll do any arraignment for any jurisdiction. And then our system is set up so that they will fill out a memorandum and hand it to the responsible attorney the next day together with a copy from the file,” Finnell said, answering a question about how long CAP Court lasts. “It’s supposed to be from 7:30 to 9-9:30, but I'm told, I've talked to some of the judges that they are sometimes there well past that, including up to 11 o'clock. It depends on how arraignments are scheduled and depends on the judge because some are able to process faster than others, until the work is done.”

Judges used to handle arraignments in their own municipalities until New York State more recently put CAP — Centralized Arraignment Part — Court into play, which means that judges and attorneys rotate shifts during after-hours and meet at one primary court, in this case, often at the new Courts Facility in Batavia. 

Finnell’s staff is scheduled to provide the public with representation during arraignment even when it happens past the end of the typical work day. His staff will be on a rotating, on-call schedule to take those arraignments and represent the people for cases throughout the county, but at a centralized location, and also at the new arraignment room being built as part of the new county jail facility.

A legislator asked about charges that happened during Darien Lake concerts. 

“My understanding is a lot of the Darien Lake charges are a violation of local councils, which wouldn't even make it to CAP Court, but it would certainly, if there's arrests made anywhere in the county, including Darien Lake after business hours, they're going to be part of the CAP agreement,” Finnell said. “If they’re misdemeanors, they're likely going to be appearance tickets, if they're a nonviolent felony, same thing, appearance tickets.

“We’ve tried to do it remotely. We've encouraged law enforcement to call us during the night so we can convey our recommendations,” he said. “But they're not getting to the judges in the proper way, I’ll say, in the way we like them heard, and so I think this is going to help us tremendously.”

County Manager Matt Landers proposed a salary schedule amendment to create a stipend for six of the attorneys in the DA’s office for the purpose of “arriving, showing up and participating in nighttime CAP Court and going to the new arraignment room at the new county jail. 

The funds have been budgeted for the 2024 budget for this allocation, Landers said. 

“And this was something that was requested by local law enforcement. And something that I think is overdue,” he said. “And we worked through Kevin to make sure that it was a fair, compensation to be in line with what the assistant public defenders do by writing at the same court.”

Finnell’s staff is mostly from this area, with only two exceptions, one person lives in Livingston County and the other in Greece, so they may take longer to get to court during their on-call shifts. 

“That’s why I asked how long it’s going to take them, but he said only two lived out of town, and really, it’s about a half hour away, so that’s not too bad,” Legislator Marianne Clattenburg said. “But then if somebody gets arrested in the middle of the night, they’re arraigned in the morning at the City Court, under the CAP Court. So it’s a new kind of way that the courts are really working. And it’s a new dynamic of having public defenders at arraignments at all times, and we need that balance.”

“Everything has changed so much over the last, even five years,” she said.

CAP Court stemmed from the Hurrell-Harring Court of Appeals decision of 2010-11 that granted access to defense counsel at arraignment as a fundamental right. To fulfill this legal requirement, New York Executive Law 832(4)(a) required the New York State Office of Indigent Legal Services to “develop and implement a written plan to ensure that each criminal defendant who is eligible for publicly funded legal representation is represented by counsel in person at his or her arraignment.” The eventual plan was unveiled in 2017 and was to be first implemented by April 2023. 

On Monday, the Public Service Committee approved the county’s plan of additional compensation of $15,000 each annually for night appearances of the six assistant district attorneys at $576.92 per pay period effective Nov. 20, to be prorated at $11,180 for each of the six in 2023.

The committee also approved a 3 percent increase in prosecutorial services effective Jan. 1, 2024, through Dec. 31, 2026, taking the rate from $68,917 in 2024 to $70,985 in 2025 and $73,115 in 2026.

Both measures will go to the county Legislature for a final vote. 

With 26 minutes left in the first half, Mount Academy's Chris Recinos penetrated Byron-Bergen's defense and, from close range, knocked a ball over the goal line to put the Eagles out in front of Byron-Bergen/Elba in the state championship of Class C Boys Soccer in Middletown.

Eight minutes later, Alexis Mendoza blasted a penalty kick past a diving Bees keeper Martin Mac Connell to put the Eagles up 2-0.

Mendoza scored two more goals, including one on a second-half corner kick, for the hat trick. The Bees' only score was a second-half goal by forward Jack Farner.

The eventual 4-1 win was the second state title in soccer for the eight-year-old private Bruderhof Christian community high school. The Eagles won two years ago as a Class D team and were moved up into Class C, despite a student body of only 200, because of the school's perceived dominance in soccer.

While the game looked evenly matched for the first 18 minutes, the Eagles seemingly became more and more dominant, containing the Bees to their end of the field most of the rest of the way.  The Bees were not without scoring opportunities, even in the second half, but either shots were missed or were blocked.

This year, the Mount Academy girls' team won a co-champion title with a tie score in their game.

Byron-Bergen/Elba was coming off a physically and emotionally draining win against #1 seed Seton Catholic on Saturday in Goshen. That game went to double overtime, tied at 1-1, for 110 minutes of fast-paced football, followed by a best-of-five penalty kick shout that the Bees won 3-2.

The Eagles had their own emotional motivation carrying them into the final after starting midfielder Lenis Arnold suffered a compound fracture in his left in Mount Acadamy's 4-2 win in the semifinal earlier on Saturday against Waterford-Halfmoon. Arnold was on the sideline with his leg in a cast for Sunday's game.

For more photos by Howard Owens and to purchase prints, click here.

For more photos by Jennifer DiQuattro click here.

The Batavian was the only news outlet from Section V with staff at the Class C tournament games for Boys Soccer.  You can help support out local coverage by signing up for Early Access Pass.

Press Release:

Please be advised that Rochester Pipeline, Inc. will be mobilizing equipment in preparation for construction on the Bank Street Water project within the City of Batavia. 

Construction on this project is scheduled to begin the week of Nov. 13 and will include the installation of 932 linear feet of new 8-inch water main and appurtenances to replace the existing 4-inch and 6-inch water mains along Bank Street (East Main Street to Washington Street).

Traffic delays are to be expected; however, no street closures are anticipated at this time.

We apologize for any inconvenience, and thank the public for their patience and cooperation as we work to improve our community.

The Oatkan Knights won their record-setting 16th sectional title at SUNY Brockport on Saturday with a 27-14 win over Attica/Alexander in Class C.

The Blue Devils opened the scoring in the first quarter with a Joseph Parkhurst 31-yard field goal (one of two FGs for Parkhurst), but Le Roy answered quickly with a Drew Strollo four-yard run for a TD followed by the PAT from Jack Currin. Le Roy held the lead the rest of the way, with Tony Piazza scoring twice and Tommy Condidorio capping things off with a two-yard run.

The final score for AA came in the waning seconds, a 30-yard pass from Trent Woods to Sam Strzelec.

Strollo rushed for 134 yards on 23 carries.  Piazza carried 20 times for 88 yards.

On defense, Strollo had five tackles, D.J. O'Geen, five plus a sack, Piazza, four, and Connor Hegeman, four.

Attica/Alexander did not submit stats.

Batavia resident Jason Smith provided these photos of geese on a pond along Ellicott Trail, taken during his Sunday morning walk.

In its 16^th year, the Triple O Mechanical Singles Handicap Tournament at Rose Garden Bowl in Bergen continues to be a hit with bowlers throughout Western New York.

The latest edition of the popular mid-November event unfolded on Sunday with 70 participants – just two shy of the maximum number for the tournament.

“The success of the tournament speaks for itself,” said Tom Sardou, proprietor at Rose Garden Bowl and Viking Valhalla Restaurant. “We have a loyal following and a sponsor that is committed to the sport of bowling, so we hope to keep it going as long as we can.”

When it was all said and done yesterday – following three qualifying squads and four rounds of eliminator-style finals – Doug Bates of Greece, a 33-year-old right-hander, walked away with the $700 first prize. He is the 16^th different winner since the tournament’s inception in 2008.

Bates, who entered with a 200 average, defeated Justin Wyman of Rochester in the title match by rolling 227 scratch plus 22 pins handicap for 249. Wyman posted 194, and took home $350 for his second-place finish.

The 16-player finals included three women – Caycee Bardol of Brockport, Samantha Hyde of Le Roy and Susan Costello of Rochester. Bardol and Hyde made it to the “final four” and each earned $250 for their efforts.

Seven “senior” (55-and-over) bowlers made it to the finals. They were Jimmy Doerrer of Rochester, John Lowe of Le Roy, former champion Mickey Hyde of Alexander, Pat Brick of Buffalo, Scott Gibson of Oakfield, Mark Mack of Le Roy and Don Perrault of Rochester.

Others making it to the finals were Chris Bardol of Brockport, Scott Dingman of Rochester, Kevin Gray Jr. of Warsaw and Dan Robinson of Rochester.

Lowe, Mack, Doerrer and Costello made it to the second round, winning $125 each. Those eliminated in the first round earned $80 each – doubling their money.

Title sponsor Triple O Mechanical contributed $500, and Rose Garden Bowl donated another $250 into the prize fund.

“This event has stood the test of time, and we truly appreciate all of the bowlers from throughout Western New York and beyond that enter year after year,” Sardou said. “You don’t find many tournaments with this great of a prize list for just a $40 entry fee.”

Bates, employed by Ferguson plumbing and HVAC warehousing, was the high qualifier with 782.

He said he returned to bowling on a regular basis about three years ago following neck surgery “that kind of slowed me down for a while.”

“I bowl in leagues at Domm’s (in Rochester) and have been working my way back,” he said. “My game is on the upswing now.”

His scores throughout the day proved that as he led the qualifying with a 782 three-game series (716 scratch) and followed that with scratch games of 223, 232, 244 and 227 in the finals.

Bates, Doerrer (756), Wyman (749), Lowe (742) and Samantha Hyde (740) earned the five guaranteed spots to the finals. It took 702 to make the finals, with Perrault getting in via the “super senior” incentive with 687.

Highlights of the day included 300 games by Wyman and Dingman during the qualifying round. The tournament is certified by the United States Bowling Congress so the perfect games will be added to their career achievements' list.

TRIPLE O MECHANICAL CHAMPIONS

2008 – Laurie Morgante, Bergen

2009 – Dan Robinson, Chili

2010 – Debbie Falbo, Bergen

2011 – Melanie Balduf, Bergen

2012 – Kevin Gray Sr., Warsaw

2013 – Brian Decker, Rochester

2014 – Albert D’Ambrosia, Rochester

2015 – Rob Husted, Spencerport

2016 – Chris Bardol, Brockport

2017 – John Martorella Sr., Rochester 

2018 – Jeff Dewar, Rochester

2019 – Dan Keenan, Rochester

2020 – Mickey Hyde, Le Roy

2021 – James Townsend, Batavia

2022 – Bill Neubert, Batavia

2023 – Doug Bates, Greece 

Alexis Mendoza scored a hat trick for Mount Academy to help lead his team to a 4-1 victory over Byron-Bergen/Elba in the Class C Boys Soccer Championship at Middletown High School on Sunday.

Jack Farner scored the Bees' only goal midway through the second half.

I'll drive back to Batavia before I start editing photos from the game.  It's likely we won't have photos posted until tomorrow.

After 110 minutes of football that saw only two goals, one for each side, the state's Class C semifinal came down to a best-of-five-goal shootout.

One kicker (each team rotating through five hand-picked players) against one goalie for each team.  Byron-Bergen/Elba, the #4 seed in the tournament, against Seton Catholic, the #1 seed.

The Bees coach, Ken Rogoyski, after the game, said he always regrets that a soccer game comes down to a shootout.

"No game should be decided by PKs (penalty kicks)," Rogoyski said. "Unfortunately, we need some way to see who advances."

A penalty kick is essentially a coin flip, a 50-50 chance to make a goal. There's pressure on both sides of the ball.  It's as much a mind game as it is about athleticism. The kicker and the goalie must outguess each other. If the goalie guesses wrong and jumps the wrong way, he has no shot at blocking the shot. If the kicker guesses wrong, he has little hope of putting the ball in the back of the net.

On the first two penalty kick rounds, each goalie guessed right. On the next two, the guessing game favored the kickers.

So, coming into the fifth round, both sides were even at two goals each. 

Braedyn Chambry made his kick to give the Bees a 3-2 edge.

That put the pressure on Carter Prinzi, normally a midfielder but called upon by Rogoyski to provide the keeper position with some fresh legs. Prinzi was well aware he had to outwit the opposing kicker.

He said he tried to use some body language to play mind games with the opposing kicker to hopefully get him to kick the ball where Prinzi wanted it to go.  He was committed to a side, and he wanted to convince the kicker to pick that side. 

We may never know if the trick worked, but the result was the same.  The kicker kicked to his left, and Prinzi dove to his right and got his hands on the ball, batting it away.

"(Blocking the kick) means a lot," Prinzi said. "I mean, it pushed our team to the finals. It's probably one of the best moments in sports I've ever had."

Prinzi won the game within the game, and as a result, Byron-Bergen/Elba will play Mount Academy, the Section IX champs, today (Saturday) at 11:30 at Middletown High School for the state's Class C championship in Boys Soccer.

The championship game comes after the day after a long, hard-fought, high-energy game against Seton. 

Rogoyski said his side would be ready.

"It's all about recovery," Rogoyski said. "Whoever recovers the best between now and tomorrow's game wins."

For much of the game, the Bees were defending a 1-0 lead on a goal by Jack Farner, with an assist from Colin Martin.  

"Yeah, me and Colin, we've been doing it all season, just playing with each other, and I know where he's gonna place the ball, and I just run the way I think it's gonna go, and it just works out," Farner said. 

Seton evened the score with less than 12 minutes left in regular time following a yellow card on a Bees defender within striking distance to the goal. The resulting kick sailed over the head of keeper Martin Mac Connell. 

That led to a pair of 15-minute OT periods, both ending nil-nil and setting up the penalty kick shootout.

Rogoyski credited Seton for playing a great game. 

The Bees seemed to dominate control up until Farner's goal, then Seton adjusted its tactics and began to make more incursions into Byron-Bergen's defense. The sides were evenly matched the rest of the way -- both getting their chances and both facing stout defenses when the scoring opportunities came.

"They played a good game, a great game," Rogoyski said. "They were tough. They were strong."

After such a long, tough game, Farner said he and his teammates will be ready for Sunday's 11:30 a.m. game.

"I'm feeling good," Farner said. "I'm just speechless. That (the shootout) was insane, but I feel confident that we're gonna get this win, and we're gonna come home state champs."

The Batavian was the only media outlet within Section V that had a reporter or photographer at the Class C state championship tournament in Boys Soccer. You can help support our coverage by joining Early Access Pass.

The Alexander Trojans lost the Far West Regional in Girls Volleyball on Saturday to Chautauqua Lake, three sets to one.

Set Scores:

• 25-15
• 18-25
• 26-24
• 25-16

Photos by Brennan Bezon

Last year's state champions in eight-man football, the Pembroke Dragons, took another step toward repeating the feat on Friday by beating Frewsburg in the Far West Regional, 49-20.

The Dragons are now 11-0 on the season and next play the Section 3 champion this coming Saturday.

Pembroke jumped to a 35-0 in the first quarter and didn't give up a score until the third quarter.

Tyson Totten contributed to the Dragons' 450 yards of total offense by rushing for 340 yards. He scored five touchdowns and during the first half, went over 3,000 yards rushing on the season.

Fullback Caleb Felski had 99 yards rushing and a touchdown. He also had an 80-yard kick return for a touchdown.

Defensively the Dragons were led by end Jayden Bridge with 12 tackles and a sack. Octavius Martin had 11 tackles, while Tyson Totten added eight. 

Submitted info and photos.

The Byron-Bergen/Elba Bees will play for a state championship in Boys Soccer on Sunday in Middletown after winning a double overtime match that was decided by a shootout against Seton Catholic.

Jack Farner, with an assist from Colin Martin, scored the only goal for the Bees in the first half and the Bees held Seton scoreless until just 11 minutes left in the match.

Regular time was followed by two 15-minute overtime periods that could have been decided by a "golden goal" (the first team to score wins).

The OT periods were followed by a five-shot shootout with Carter Prinzi stepping into the goal. Each of the first two shots by both teams was blocked by each goalie, then each team made their next two goals. Jesus Aragon made the fifth attempt for the Bees, giving Prinzi the opportunity to make the game-winning save.

Sunday's game begins at 11:30 a.m. at Middletown High School against Mount Academy from Section IX.

More photos and coverage coming this evening.

The Batavian is providing exclusive coverage of the Class C Boys Soccer State Championship matches. You can help support our coverage by joining Early Access Pass.

Uncertain about its ability to raise more investment capital, Plug Power, currently building a hydrogen fuel cell plant in WNY STAMP informed the Security and Exchange Commission in a filing on Friday that it may not have the ability to remain a "going concern" over the next 12 months.

The Latham-based company started selling public stock in 1999 and has never reported a profit, which is not unusual for early-stage start-ups. 

The company is working on several options to raise more capital, such as "various financing solutions from third parties with a particular focus on corporate level debt solutions, investment tax credit related project financings and loan guarantee programs, and/or large scale hydrogen generation infrastructure project financing."

The net losses for Plug Power in the third quarter were $0.47 per share for the third quarter, steeper than the $0.30-per-share loss expected by analysts. 

In the filing, the company emphasizes the uncertainty of the effort. 

"Those plans are not final and are subject to market and other conditions not within the Company’s control," the company stated in the filing. "As such, there can be no assurance that the Company will be successful in obtaining sufficient funding. Accordingly, management has concluded under the accounting standards that these plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern.

News of the weaker-than-expected earnings report and the liquity problems drove Plug Power's stock price down from $5.93 per share to $3.53 per share.

Plug Power's chief financial officer, Paul Middleton, according to Yahoo Finance, characterized the wording of SEC filing as language required by standard accounting principles but the company remains confident about its future.

"It's a lot more conservative obviously than what we feel like," Middleton added. "But I have a $5 billion balance sheet that's unlevered. I mean, I really don't have any debt. So, we still are extremely confident about the range of parties and solutions that we're working with."

The Company’s working capital was $1.3 billion as of Sept. 30, In addition, the company has available-for-sale securities and equity securities of $388.8 million and $67.8 million, respectively.

The company stated that it "expects to generate operating losses for the foreseeable future as it continues to devote significant resources to expand its current production and manufacturing capacity, construct hydrogen plants, and fund the acquisition of additional inventory to deliver our end-products and related services."

CEO said in an earnings call that the third quarter was difficult.

"Over the past several months, there have been enormous challenges associated with the availability of hydrogen, primarily due to downed plants, including our Tennessee facility, and temporary plant outages across the entire hydrogen network," he said.

According to reports in early October, Plug Power is considered a strong contender for a portion of $7 billion in federal grants for alternative energy projects. In 2019, the federal government committed $4 million to the company.

Plug Power is building a $290 million fuel cell plant at STAMP in the Town of Alabama. The company is being (most of the funding is contingent on completion of the project) financially backed by the Genesee County Economic Development Center and New York State.

A GCEDC official did not immediately respond to a request for comment on the SEC filing.

Here is the full paragraph of a key statement in the filing:

These conditions and events raise substantial doubt about the Company’s ability to continue as a going concern. In accordance with Accounting Standards Update ("ASU") No. 2014-15, “Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (Subtopic 205-40),” management has evaluated whether there are conditions and events, considered in the aggregate, that raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date of the condensed consolidated financial statements are issued and has determined that the Company’s ability to continue as a going concern is dependent on its ability to raise additional capital. To alleviate the conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern, management is currently evaluating several different options to enhance the Company’s liquidity position, including the sale of securities, the incurrence of debt, or other financing alternatives. The Company’s plan includes various financing solutions from third parties with a particular focus on corporate-level debt solutions, investment tax credit-related project financings and loan guarantee programs, and/or large-scale hydrogen generation infrastructure project financing. Those plans are not final and are subject to market and other conditions not within the Company’s control. As such, there can be no assurance that the Company will be successful in obtaining sufficient funding. Accordingly, management has concluded under the accounting.

Press Release:

Graham Corporation ("Graham” or the “Company”), a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the defense, space, energy, and process industries, announced today that it has acquired P3 Technologies, LLC (“P3”), a custom turbomachinery engineering, product development and manufacturing business for the space, new energy and medical markets.

Based in Jupiter, Florida, P3 has established a strong reputation in the development of state-of-the-art rotating machinery including pumps, compressors, and turbines and are specialists in high-speed rotors and cryogenic pumps. With an experienced team of highly skilled gas-turbine engineers, P3’s development process results in innovative solutions to complex technical challenges.

Daniel J. Thoren, President and CEO, commented, “This is an excellent demonstration of the acquisition element of our growth strategy. P3 is an ideal bolt on business and brings highly complementary technology that enhances and expands our turbomachinery solutions. Our Barber Nichols’ team will provide the experience and know-how for addressing the anticipated rapid growth to support P3’s growing backlog and its funnel of opportunities. Importantly, P3 also is bringing unique intellectual property that we believe we can leverage to expand the market potential of the business. We are excited about our future opportunities and welcome P3 to the Graham team.”

High Value Add Technology

P3 has a strong intellectual property portfolio including the patented Multi-Channel Diffuser (“MCD”) and Self-Contained Actuating Magnetic Pump (“SCAMP”). These products provide a product family platform that can be leveraged across many applications and industries.

The MCD is revolutionary diffuser technology that improves the efficiency of pumps and compressors by increasing pressure recovery up to 20% and measurably increasing operating range. The MCD can be used in new designs or retrofit applications and can work with any pump or compressor that utilizes a centrifugal impeller.

SCAMP is a family of positive displacement pumps for low flow, high pressure cryogenic applications compatible with oxygen, hydrogen, methane and nitrogen.

P3 also has developed a family of turbopumps ranging in thrust from 5 thousand to 200 thousand pounds. The turbopumps are designed using state-of-the-art flow path design enabled by additive manufacturing to provide higher performance at competitive prices.

In addition, P3 has created robust turbomachinery development tools which enable efficient design iteration cycles reducing lead times to product launches for customers.

Solid Financial Performance; Transaction Terms 

P3’s annual revenue is expected to be approximately $6.0 million in fiscal 2023 with gross and adjusted EBITDA margins that are consistent with Graham’s fiscal 2027 goal of low- to mid-teen adjusted EBITDA margins. Backlog at October 31, 2023 was approximately $8 million. We believe P3 has a pipeline with significant upside potential.

A stock and cash transaction, P3 was acquired from its sole owner who, along with P3’s leadership team, will remain with the Company. The acquisition price has not been disclosed at this time. However, the stock element of the purchase price is valued at $2 million and the number of shares of Company’s common stock issued as part thereof was determined using a stock price of $15.92, which represents the average closing price for the Company’s common stock for the 10 trading days ending on November 3, 2023.

Accompanying Slides

Graham has posted slides that accompany this release on its investor relations website.