Stillwater, OK, January 06, 2018 --(PR.com
)-- MITO Material Solutions has been awarded a National Science Foundation (NSF) Small Business Innovation Research (SBIR) grant for $224,988 to conduct research and development (R&D) work on a nano-additive that doubles the interlaminar toughness of composite materials utilized in aerospace, recreation, and automotive industries.
MITO is founded by Kevin and Haley Keith, who are the Vice President and President, respectively, Richard Gajan is CEO and Dr. Bhishma Sedai is the Vice President of Research and Development, and PI. The additive was developed in Oklahoma State University’s Helmerich Research Center in Tulsa by Dr. Ranji Vaidyanathan, who is the co-PI. This grant will help create two engineering positions at inception, and help MITO grow to a predicted 200 employees within five to seven years.
“The National Science Foundation supports small businesses with the most innovative, cutting-edge ideas that have the potential to become great commercial successes and make huge societal impacts,” said Barry Johnson, Director of the NSF’s Division of Industrial Innovation and Partnerships. “We hope that this seed funding will spark solutions to some of the most important challenges of our time across all areas of science and technology.”
“We’re thrilled to get this prestigious award from the National Science Foundation,” said Richard Gajan, CEO of MITO Material Solutions. “This grant will help MITO grow and commercialize as we move forward with more advanced testing. We’re very excited about the future that is ahead of us.”
Once a small business is awarded a Phase I SBIR/STTR grant (up to $225,000), it becomes eligible to apply for a Phase II grant (up to $750,000). Small businesses with Phase II grants are eligible to receive up to $500,000 in additional matching funds with qualifying third-party investment or sales.
NSF accepts Phase I proposals from small businesses twice annually in June and December. Small businesses with innovative science and technology solutions, and commercial potential are encouraged to apply. All proposals submitted to the NSF SBIR/STTR program undergo a rigorous merit-based review process.
About the National Science Foundation's Small Business Programs: The National Science Foundation (NSF) awards roughly $200 million annually to startups and small businesses through the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program, transforming scientific discovery into products and services with commercial and societal impact. The non-dilutive grants support research and development (R&D) across almost all areas of science and technology helping companies de-risk technology for commercial success. The NSF is an independent federal agency with a budget of about $7 billion that supports fundamental research and education across all fields of science and engineering.
About MITO Material Solutions, LLC: Founded in 2016, MITO Material Solutions, LLC aims to solve the composite industry’s biggest problems with nano-sized solutions. MITO Material Solutions, LLC has exclusively licensed the patented nano-particle additive from Oklahoma State University, and is currently conducting research and manufacturing in Stillwater, Oklahoma. The company expects to launch their first commercial product in late 2018, which is a nano-additive that will increase interlaminar toughness in composite parts.