WATERVILLE — A Waterville company will get more than $12,000 to develop a compostable bag.

Cerealus Holdings was awarded a $12,500 grant from the Maine Technology Institute to develop the bags, which will be marketed to both the industrial and consumer compost bag market.

Cerealus was one of 12 technology companies statewide to receive one of the grants. Other grants will support industries such as aquaculture, boat building and forestry.

Each of the grants must be matched by the receiving company in cash, salaries, staff time or equipment directly into the proposed project.