Funds Will Prepare the Way for Large-Scale Manufacture of Environmentally Friendly Lubricant
SPRINGDALE, Ark.--(BUSINESS WIRE)--The Office of Science in the Department of Energy (DOE) has awarded NanoMech, LLC a grant for $150,000 to demonstrate the viability of large-scale manufacturing of NanoGlide®. NanoGlide is a platform technology lubricant with unique properties that significantly reduces friction and mechanical component wear in extreme pressure conditions in applications ranging from earth movers to helicopters and automobiles. Created from nanoparticle research at the University of Arkansas under the direction of NanoMech CTO and UA professor Dr. Ajay P. Malshe, NanoMech has an exclusive license to commercialize this patent-pending technology.
“This contract will enable NanoMech to develop the capability to produce NanoGlide in commercial quantities.”
Friction is one of the major reasons for failure of vital engineering components and systems used in aerospace, military, and industrial applications. The annual cost of friction and wear-related energy and material losses is estimated to be over $700 billion - 5% to 7% of the United State’s $14 trillion gross national product.
“NanoMech has proven its NanoGlide product can reduce friction and wear in key applications thereby improving productivity and reducing cost,” said Neil Canter, a lubricant industry expert and a Contributing Editor to the industry’s widely-read Tribology and Lubrication Technology magazine. “This contract will enable NanoMech to develop the capability to produce NanoGlide in commercial quantities.”
“This grant, along with the recently announced contract with the Office of Naval Research, will allow NanoMech to accelerate the commercialization and market acceptance of this disruptive material. In addition to the jobs created from this scale-up activity, we are excited to be expanding Arkansas’ first nanomanufacturing facility with such a significant new product,” said Keith Blakely, NanoMech’s Chief Executive Officer.
When scale-up is completed, NanoMech will be able to produce these advanced lubricants and related products in a variety of forms such as an additive for oils or greases, a paste, or an aerosol spray.
Added Jim Phillips, NanoMech’s Chairman, “NanoMech continues to gain nationwide recognition for applying breakthrough technology to solving major real world problems. The grant from the Department of Energy is the latest example of NanoMech’s unique ability to address important issues with national energy and environmental implications.”
The grant is part of a Phase I Small Business Innovation Research (SBIR) award funded by the American Recovery and Reinvestment Act of 2009. If this project is successful, it could lead to a Phase II grant of up to $1 million.
About NanoMech
NanoMech, a technology company based in Springdale, Ark., is a designer and manufacturer of innovative application-specific nanoparticle additives, nanoparticle-based coatings and coating deposition systems. The company was recently recognized for “Excellence in Innovation” by the U.S. Department of Commerce. For more information, please visit www.nanomech.biz.
CEO Keith Blakely will be a keynote speaker at the Nano Renewable Energy Summit in Denver, Colorado on May 24, 2010.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6285863&lang=en
