IN CASE YOU MISSED IT: Merrimack’s Nanocomp Technologies Awarded $18.5 Million Defense Department Grant
In case you missed it, Merrimack based Nanocomp Technologies was awarded an $18.5 million Defense Department grant last week that will help the company expand and create New Hampshire jobs. As reported by the Nashua Telegraph, the company “is receiving the Federal money under Defense Production Act Title III. Defense Production Act Title III, managed by the Air Force, is intended ‘to create assured affordable, and commercially viable production capabilities and capacities for items essential for national defense.’”
“The Defense Department’s investment in Nanocomp Technologies is great news for New Hampshire jobs,” said Senator Jeanne Shaheen (D-NH). “The company’s ongoing expansion is a perfect example of how private-public partnerships can fuel private-sector growth and drive innovation, and I hope we see similar investments like this one in the future to help more small businesses hire and expand.”
In 2012, Senator Shaheen brought then-SBA Administrator Karen Mills to Nanocomp Technologies in Merrimack to showcase how SBA loans, the Small Business Innovation Research (SBIR) program, and DOD contracts have helped New Hampshire businesses grow and create jobs.
To read more about the grant, click here: http://www.nanocomptech.com/title3-2014.html
Nashua Telegraph: Merrimack-based Nanocomp Technologies gets $18.5M from DoD
By BRADFORD RANDALL
Staff Writer
MERRIMACK – A local company will be receiving a sizable chunk of change after the Department of Defense has decided to award $18.5 million in additional funding to Nanocomp Technologies, based in Merrimack.
Nanocomp Technologies, a developer of products made with carbon nanotubes, is receiving the Federal money under Defense Production Act Title III.
Defense Production Act Title III, managed by the Air Force, is intended “to create assured affordable, and commercially viable production capabilities and capacities for items essential for national defense.”
With the new money, Nanocomp Technologies will provide carbon nanotube yarn, sheet and tape to the Department of Defense.
In a statement released by the company last week, Nanocomp Technologies said they will be expanding their volume capacity and adding 30,000 square feet of new manufacturing space.
According to Peter Antoinette, the company’s president and CEO, the new space “will function as the country’s first low rate production facility.”
Carbon nanotubes from Nanocomp Technologies are currently used by NASA and the Department of Defense in vehicle and body armor, satellites and aircraft, as well as lightweight cables and wires.
The Merrimack company has already begun expanding their pilot facility and the next phase is expected to be operational by 2015.
Carbon nanotubes have seen popular use on aircraft in recent years, replacing copper wiring, and are used as a means to reduce plane weights and save fuel costs.
“The Company’s long term relationship with the United States Government is an example of how a public-private partnership can successfully work to bring our revolutionary technology to market for the benefit of the military, commercial users, and the nation, a release from Antoinette said.
