Colfax-based Nanotechnology Company Challenged By U.S. Air Force to Raise $1.5 Million to Help Crowdfund Military Research
COLFAX – A local Colfax based tribology company is set to receive a $1.5 million dollar grant from the U.S. Air Force, if it can raise the matching funds in time.
TriboTEX technology has won numerous awards, and obtained funding from a variety of institutions, including the National Science Foundation, the Department of Energy, and NASA.
To date, the company has sold over 36,000 units worldwide. They have a range of products suitable for the smallest lawn mower engines to the largest semi truck engines.
TriboTEX applied for a Small Business Innovation Research program through AFWERX, in order to obtain access to the defense market. AFWERX is a United States Air Force program with the goal of fostering a culture of innovation within the service. Encompassing a number of programs supported with relatively small amounts of funding, the initiative is intended to circumvent bureaucracy and engage new entrepreneurs in Air Force programs.
The U.S. Air Force has challenged the TriboTEX team to raise up to $1.5 million for matched funding, which is necessary to scale the business operation and produce more products for military testing. TriboTEX is working with AFWERX to test TriboTEX products in military equipment. The TriboTEX team plans to raise the money necessary to fulfill their grant requirements through crowdfunding, by launching a Kickstarter campaign that went live today, for the company’s latest nanotechnology product, “TriboTEX Transmission.”
TriboTEX Transmission uses the familiar two-sided nanoparticles specifically designed for automatic transmissions. The nanoparticles reduce friction, which prevent accelerated wear, lower temperature and noise, and extend the life of the transmission. Transmissions with TriboTEX will last longer, potentially saving thousands in expensive repairs.
Currently, the Department of Defense spends millions of taxpayer dollars in maintenance costs. TriboTEX is aiming to save Americans millions by preserving equipment used by the military. “Helicopter gear boxes are limited in flight time, and longevity is critical for safety of the flight,” stressed CTO Rudenko, who says the product will work for anyone who wants to improve the functionality of their transmission, whether its a 2002 Toyota Prius or a Sikorsky UH-60 Black Hawk helicopter.