| Latis Materials, a startup developing bio-derived carbon fiber materials and composites, won the fifth annual Dirigo Labs Pitch Competition on Thursday, May 28, claiming a $20,000 cash prize sponsored by Skowhegan Savings Bank.
The event builds on five years of strong results for the Dirigo Labs Accelerator, whose alumni have collectively raised $35.6 million in capital, generated nearly $17.4 million in sales, and served more than 18,000 customers across 126 alumni-launched products and services. Latis Materials joins a list of past winners that includes bluShift Aerospace, Croft, Finsulate USA, and Seascale.
The 2026 cohort of 12 companies worked across artificial intelligence, the bioeconomy, advanced manufacturing, healthcare, and the blue economy. Judges evaluated companies on capital strategy, team strength, potential for economic and community impact, storytelling, and innovation.
Cash prizes were distributed across three categories. Latis Materials received $20,000 as the Judges' Pitch Prize winner. SobaSparkle received $2,500 as the Cohort Choice award winner, voted by the Dirigo Labs accelerator cohort founders, and Dooryard received $2,500 for the Audience Choice Award. These prizes were provided by Skowhegan Savings Bank, which has supported the Dirigo Labs program for five consecutive years.
“We’re proud to continue our support of the Dirigo Labs Pitch Competition and the entrepreneurs who are helping drive innovation and economic growth across Maine,” said Vicki Alward, executive vice president and chief operating officer of Skowhegan Savings. “Supporting initiatives like this aligns with our commitment to strengthening our communities and investing in workforce and economic development. Congratulations to this year’s winners and to all of the talented entrepreneurs who participated in this year’s cohort. We look forward to watching each of your businesses continue to grow and make an impact across our state.”
Co-founders and twin brothers Aidan and Will Salisbury launched Latis Materials after completing mechanical engineering degrees at the University of Maine. The company uses a byproduct of paper production to create carbon fiber yarn. This process produces the strength of traditional carbon fiber for a fraction of the cost, making it an affordable lightweight option for a range of applications.
"Being part of the Dirigo Labs accelerator has been an incredibly meaningful experience for us, and I’m grateful for the community of Maine founders we’ve had the chance to learn from and build alongside,” said Aidan Salisbury, co-founder of Latis Materials. “The support from the program, judges, and the state for innovative forest products is a strong vote of confidence in both our team and the future of this industry in Maine. While the funding helps accelerate our work scaling bio-derived materials, what matters most is the belief behind it. We plan to put the funds toward equipment for our small-scale manufacturing line so we can turn our prototypes into real products."
“The 12 accelerator companies in Dirigo Labs Cohort 5.0 highlight the surging pace of innovation happening right here in downtown Waterville and across Maine,” said Garvan D. Donegan, president and CEO of the Central Maine Growth Council. “By bridging foundational sectors from the natural resources and wood products industries to information technology with cutting-edge initiatives in bio-manufacturing, biotech, artificial intelligence, and housing, our founders are actively driving the future of our state's economy. What makes this year exceptional is also the sheer breadth of our Dirigo Labs community. With 33 companies engaging with Dirigo Labs since Q1, we are supporting our largest and most diverse portfolio of founders to date, representing local, regional, and statewide entrepreneurship. This group is attracting significant capital, creating new jobs across Maine, and deploying new exports into the global economy. By providing targeted support—whether scaling tech startups or empowering local businesses—we are securing the economic future of our region.”
“Central Maine has become a place where founders choose to build and that doesn't happen by accident," said Jeff Frank, program manager of Dirigo Labs. “It happens when entrepreneurs, capital, and community decide to bet on the same place at the same time. Dirigo Labs is here to keep that momentum going, and to make sure entrepreneurs in our state never have to ask whether Maine is the right place to turn their ideas into reality.”
The 2026 program was also made possible in part by Dirigo Labs' Friends of Founders sponsors: Valley Beverage, One River CPAs, and the Center on Rural Innovation. |
